by Carrie Cummings
Millennials are buying luxury brands, but they don’t perceive themselves as frivolous.
Multicultural millennials make up nearly half of the demographic. And new research from Buzz Marketing Group sheds light on media, tech and shopping trends coming from this segment. “When it comes to loyalty, multicultural millennials give as much as they get,” said Buzz Marketing Group CEO and founder Tina Wells. “They know what they like, and aren’t shy about sharing that information with their friends and contacts.
“And they are not in the dark about their own influence. They don’t want anyone talking down to them. They are buying luxury brands just as much as anyone else—and they know it. But don’t mistake this for being frivolous. Only 24 percent buy luxury items that they cannot afford, even though they would like to own them anyway.”
