Gen-Z Luxe: How This New Generation Is Changing the Future of Luxury and Status

Generation-Z, born between the years 2000 and 2015, is already changing the branding landscape and challenging brands to elevate their experiences. To better understand and design for these more pragmatic, discerning consumers, we will uncover shifts in consumer attitudes, values, lifestyles and behaviors that relate to the future of luxury, premium and status guided by the Gen-Z consumers and drill down to actionable insights and implications for your brand.

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Objectives

  • Extract key insights in the differences between Gen-Y and Gen-Z consumers.
  • Uncover shifts in consumer attitudes and values relating to the future of luxury and premium.
  • Create implications and activation ideas for specific categories (TBD by co-funders).

Why?

The landscape of premium is changing. Just as Millennials redefined the conceptualization of premium and status through their unique lens of values and ideals, the next generation of consumers—Gen-Z—is now doing the same. In the year 2020, Gen-Z will make up a quarter of the US population and will account for 40% of all consumers. This huge shift in spending power will be readily apparent in the premium and luxury spaces where these new adults will soon be entering for the first time. To support your brand in activating on these shifts, our team will illuminate defining principles of the Gen-Z consumer as well as differences between Gen-Y and Gen-Z values to extract key insights. Using techniques such as social-media datascraping and opinion analysis, our team will identify how Gen-Z consumers are interacting with luxury/premium brands and how they view the idea of status. This work will then be translated to key insights and principles for winning with these consumers and informing future trends and implications.

Methodology

1. Qualitative Trend Research
2. Social-Media Datascraping and Opinion Analysis
3. One-Day Research Session with Premium Gen-Z Consumers

Project Design

Design Rationale:

Our trends analysts are experts in analyzing the current and future landscape through qualitative research on key publications, articles, reports, blogs and podcasts. Coupled with analysis on over 5 million social media posts, our analysts extract candid insights from consumers, verbatims rarely heard in focus groups. Our team will refine the insights with a day of research with Gen-Z consumers to co-create their vision of the future of premium, luxury and status.

Project Research Target

Geography: US Only; Approximates national population distribution

Deliverables

Reporting: Summary Report

Presentation: Web-based

Additional Deliverables:

• 30-page PDF that includes key insights of the Gen-Z consumer, comparison of Gen-Y vs. Gen-Z, summary of social-media datascraping, and 5–7 emerging trends with relevant timing and implications.
• Each co-funder will receive access to a video-conference of our team presenting the final presentation.

Funding Timeline (once project is approved): 45 days

Timing: 8 weeks from funding to delivery of final report

Supplier

Company: LPK

Previous Projects: 1

Rating: Supplier has not been rated

Supplier's Qualifications:

LPK is an international brand design agency with expertise in trends, insights, strategy and innovation. With a global presence in both Western Europe and Asia, our offices work seamlessly together to deliver extraordinary work to our clients. We offer end-to-end solutions across all touchpoints of the branding spectrum.
To date, we have engaged with clients on the topic of Gen-Z in categories from beauty and feminine care to eyewear and pet to bring insights and implications that help our clients determine their future strategies and pipelines to meet the desires of this next generation of consumers. This look into Gen-Z will take our implicit knowledge and expertise in demographic and socio-cultural trends and drill it down to actionable ways your brand can respond successfully.

Incentives

• The first five co-funders will receive a 30-min phone conversation at the beginning of the project to outline any key challenges or questions they would like answered in the final deliverable. As part of this customization, each of these first five will receive up to 3 proprietary questions about their brand, category or specific project. This connection to your brand can also come to life as one page of thought-starters specific to your brand or challenge.
• Every co-funder who purchases two or more shares can help define specific questions answered in the Gen-Z consumer research session.

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