I just read an article by Julie Halpert, entitled Young, Broke, and Spending on Luxury. In it, she looks at the spending habits of millenials, those born between 1980- 2000. “When we look at the luxury market, millennials are the growth engine going forward,” says Jason Dorsey, a millennials expert and the chief strategy officer for The Center for Generational Kinetics. He said brands represent a lifestyle and with every move tracked through social media, luxury goods provide a strong visual representation “that either I’ve made it or I want to tell you I’ve made it,” he says.
Do images like these represent the “good life” or “foolish spending”?
For women, it leads me back to my question posed in a previous post, whose lifestyle are you funding, yours or hers? I’d love to hear your feedback…
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