AUSTIN, Texas--(BUSINESS WIRE)--Some classic luxury brands are starting to capture favoritism among the USA’s growing wealthy Millennial consumer segment according to a consumer research study conducted by MVI Marketing LLC (MVI) in November 2017.
Rolex, Jimmy Choo and Tiffany are showing the strongest leadership positions in their respective product categories (Watches, Shoes, Jewelry).
“In this study we asked wealthy, younger, male and female consumers in the USA, to pick their luxury brand favorites in key product categories,” stated Liz Chatelain, President of MVI.
Product categories researched in this study included: Fashion (apparel), Shoes, Handbags, Jewelry, Watches, Hotels, Automobiles and Eyewear.
“While some categories had clear outlier favorites, the majority including Fashion (apparel), Handbags, Automobiles, Hotels and Eyewear are all white spaces looking for brand leadership,” continued Chatelain. “It’s a significant opportunity for brands to penetrate this growing wealthy consumer segment that will drive purchasing power for the next 30 years.”
The research study and report titled Luxury Brand Favorites of Millennials is among the first designed to capture a benchmark understanding of the brands achieving penetration with this emerging consumer segment.
MVI conducted this research online from 20-22 November 2017 with 978 male and female respondents, 25-40 years of age, $80,000 household income and higher.
With this study and report MVI has launched LuxConsumer, a new research service assisting luxury brands to better understand and communicate with younger luxury consumers.
The full report is available at MVIMarketing.com.
