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GLOBAL 2016: For millennials, luxury is all about experience

Luxury means vastly different things for millennials, compared to prior generations. It’s all about the experience. Many are giving up the big house or the fancy car for a life-defining experience that can be shared with family and friends. Or even with people they don’t know on social media. And when they do purchase a luxury item, that too is all about the experience and the ability to share it. If it can’t be shared, then it didn’t happen.
Jim Joseph
President of the Americas
Cohn & Wolfe