×
75 948
Fashion Jobs
ATHLETA
Ecom Marketing Manager, Loyalty & Promotions
Permanent · San Francisco
MACY'S
Asset Protection Detective, Sunrise - Standard Part Time
Permanent · Massapequa
MACY'S
Beauty Account Coordinator - Shiseido, Fashion Valley - Full Time
Permanent · San Diego
MACY'S
Asset Protection Officer, West Virginia - Part Time (2840)
Permanent · Martinsburg
MACY'S
Asset Protection Detective, Herald Square - Full Time
Permanent · New York
MACY'S
Asset Protection Detective, Woodlands Mall - Full Time
Permanent · The Woodlands
MACY'S
Asset Protection Detective, st Clair Square - Full Time
Permanent · Fairview Heights
MARC JACOB'S
Stock Supervisor
Permanent · San Diego
MARC JACOB'S
Sales Supervisor
Permanent · Tulalip Bay
TAPESTRY
sr. Director, Digital Lifecycle Marketing
Permanent · New York
TAPESTRY
Manager, Distribution Operations
Permanent · North Las Vegas
OLD NAVY
Assistant Manager, Customer Operations - Jordan Creek tc
Permanent · West Des Moines
OLD NAVY
Assistant Manager, Customer Operations - Rushmore Crossing
Permanent · Rapid City
URBN
Anthropologie Digital Project Manager
Permanent · PHILADELPHIA
URBN
Free People Assistant Visual Manager
Permanent · PARAMUS
URBN
Free People Assistant Visual Manager
Permanent · BURLINGTON
MACY'S
Asset Protection Detective, Boca Raton Town Center - Full Time
Permanent · Boca Raton
MACY'S
Asset Protection Detective, Herald Square - Full Time
Permanent · New York
PRIMARK
Visual Merchandising Manager - Crossgates
Permanent · ALBANY
PRIMARK
Visual Merchandising Manager - City Point
Permanent · NEW YORK
PRIMARK
Visual Merchandising Manager - Roosevelt Field
Permanent · GARDEN CITY
PRIMARK
Talent Acquisition Manager - Volume Recruitment
Permanent · BOSTON
Published
Mar 20, 2016
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Millennials are buying luxury goods

Published
Mar 20, 2016

A new UBS study on millennial spending reveals that the largest upcoming generation in the workforce still will spend on luxury items.


Baby Banner bag - Baby Banner bag, Baby Banner bag  ,500 at Burberry.


In the recent Evidence Lab study on European luxury goods, UBS learned that millennials will spend on brand name European luxury items such as expensive purses.

“There are some signs from our survey that the U.S. millennials are perhaps more positive on European luxury, a bit more brand loyal and spend a bit more than older consumers,” said Helen Brand, luxury goods analyst at UBS in London.

This is noteworthy for a generation that is known for being strapped with student loans and not being particularly involved in the housing market, a traditional indicator of economic strength for a generation.

Marketwatch reported Brand explaining in her report, “Key going forward is whether the U.S. millennial consumer is more open to luxury spending. Encouraging is that the U.S. millennial consumer tells us that they spend more on luxury than 35+ consumers and feel markedly more optimistic about their personal financial outlook.”

The report also found that spending by US consumers was outpaced by Chinese millennials who spend even more on luxury, often online and through the grey market which can potentially negatively impact brand value.

“Having a strong online presence is important to presenting the right brand image to millennials,” Brand said in the report. “Companies advanced here, such as Burberry but also Gucci and Louis Vuitton, are well placed to win,” Brand noted.

Marketwatch reports Burberry sales are up 13% YTD, Louis Vuitton is up 7%, and Goldman Sachs is forecasting European luxury goods sector sales up 20% for 2016.

Copyright © 2022 FashionNetwork.com All rights reserved.