INCREASED PURCHASING FROM CHINESE CONSUMERS
USE OF DIGITAL CHANNELS IN PURCHASE
INFLUENCE OF YOUNGER CONSUMERS
- By 2025, new generations will affect the growth of the luxury industry.
- Generations Y and Z will represent an estimated 55% of the 2025 luxury market and the two generations will contribute an estimated 130% of market growth between now and then. This will offset the decline in sales among older generations.
- Luxury car brands should thus plan to target younger consumers in their marketing efforts in the coming years because these consumers will influence sales within the luxury industry.
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