NEW YORK, Jan 25 — We knew that Generations Y and Z had become prime targets for the major luxury labels, but a study reveals that even more than the older generations, buyers from these generations have taken a major turn towards purchasing luxury items in the past year. And these younger consumers bring new expectations to these brands, especially in terms of new technologies and sustainability.
With the pandemic, luxury brands have understood the importance of accelerating their transition to digital. Something that has become essential given that their customers are increasingly composed of members of younger generations.
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