The luxurious taste of the millennials

Thursday, 26. April 2018
So-called millennials include anyone that was born after 1980 and entered the world of work around the year 2000. Significant changes in all areas of living have appeared with Generation Y. What does our future look like? How will we live, travel and dress ourselves?

Slow fashion – new awareness for fashion

Even in the exclusive fashion industry, a new trend has developed in response to the mass production of goods. While greater amounts of clothing than ever are produced for labels every year, ambitious luxury designers are demonstrating a new concept that seems to be catching on gradually. This concerns long-lasting clothing, made with care. Both the materials and the processing are of a high-quality and have a short production chain. The conscious handling of fashion ensures that people are buying less, but spending the same amount of money.

 

Travelling – experience comes first

Gathering individual travel experience is higher popular with the younger generation. Being able to show off beautiful photos on Facebook, Instagram and other social media has become a central focus. Producing good content that generates a lot of likes is often a primary factor when choosing a travel destination. It is no longer as important to have a big car or own your own home, as with the previous generation. A significant portion of people's incomes is invested in exciting experiences: festival visits, city trips, etc. Digital natives are able to compare offers from anywhere and at any time; and prefer to book their trips by themselves. A package holiday rarely comes into question.

 

Housing – Home ownership is still a high priority

Even in the property industry, new kinds of behaviour and trends are developing: millennials live differently. The concept of so-called co-living is becoming ever more significant. Housing units are already furnished and require the communal use of kitchens and bathrooms. Luxury home-sharing in cities such as London and San Francisco or on Bali works based on a similar principle. Since the work-life balance has become the focus of millennials' interests, a high level of mobility is also in demand. The closeness of popular cities can be compensated for through these style of living. 

As flexibility plays an important role, many millennials first choose to rent an apartment. The benefit of not entering into any major commitments gives them a feeling of independence. And material security remains in demand and desirable. With young families, the issues of care and living, for example, play a primary role. Sustainable investments with a view of value appreciation are rather popular. The dream of home ownership is also widespread among millennials.

 

Gadgets and status symbols ‐ understatement is now in

Status symbols are no longer what they once were. Wearing expensive and conspicuous clothing and jewellery to show off your own wealth is out. Distinguishing simple postmen from high-ranking managers is no longer so easy in private life. A racing bike instead of the stylish Cabrio – status symbols are no longer so garish and shining today, but rather therefore individual and subtle. A further example of modern status symbols is the so-called dress watches. The analogue wrist watches can be used in a variety of ways through the discreetly elegant appearance and go with both the daily business look in leisure and vintage outfits. 

 

Autor: Magdalena Griesner

Rucksacktouristin die gerade den Gipfel erreicht hat. Wohnsharing: Frau begrüßt Paar in ihrer Wohnung
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