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bain20media20pack_the_millennial_state_of_mind.pdf
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🔗 Source: bain.com
📊 Size: 831 KB
📄 Pages: 7 pages
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Summary

The luxury industry has entered a "new normal" with lower growth, requiring brands to refocus on customer needs, particularly millennials, who will represent 40% of the global personal luxury goods market by 2025. A "millennial state of mind" characterized by uneasiness, urgency, and uniqueness is influencing consumer behavior across generations. Digital interactions are changing the approach to luxury, with 70% of purchases influenced by online interactions, and online and monobrand stores expected to become the largest channels for luxury sales by 2025, each accounting for 25%. However, physical stores will still play a critical role, with 75% of purchases occurring in-store by 2025.

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Description

The luxury industry has entered a "new normal" with lower growth, requiring brands to refocus on customer needs, particularly millennials, who will represent...

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  • File Format: PDF
  • File Size: 831 KB
  • Pages: 7
  • Language: EN
  • Total Downloads: 67
  • Last Updated: 1 week ago

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