Millennials and Gen Zs a driving force in the luxury goods market, says report

By 2026, Millennials and Gen Zs are expected to account for 75% of luxury goods shoppers. Photo: AFP

By 2026, Millennials and Gen Zs are expected to account for 75% of luxury goods shoppers. This striking evolution is reshaping the luxury landscape, driven by younger, higher-spending, more demanding consumers.

It also brings new trends to the forefront, such as the resale and rental of luxury goods.