Young parents with more than $5,000 in disposable income are the future of luxury shopping, study finds [Business Insider]
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Source: Business Insider
Future luxury shoppers are young parents with disposable income and an optimistic outlook. Respondents said they're more likely to pay for luxury goods in 2024 compared to 2021. Young parents are becoming the face of luxury in America. A report published this month by YouGov , a market research company, explored Americans' hunger for luxury goods and brands. The research and data analytics firm pulled data from its YouGov Profiles — which include more than 27 million global panel members — and its YouGov Brand Index. "Luxury demand continues to skyrocket despite inflationary fluctuations," the SVP at YouGov America, Chris Melchiorre, said in a statement. "As more Americans purchase or consider purchasing luxury goods, luxury brands need a holistic understanding of their evolving and broadening customer segments." In fact, the report found that more respondents in 2024 will likely buy a luxury good in the next 12 months than in 2021. While most of the report discussed luxu
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