- In luxury, Gen Z are going to make up 60% of luxury sales in a matter of five or so years. The luxury category has changed significantly. There are people who drink wine that don’t necessarily care about the terroir but are happy to spend $950 on a bottle to celebrate their wedding anniversary.
“So we have to ensure we are embracing what we call the ‘new world luxury’. We need to engage with them in a new way, it’s all about being surprising, disruptive, culture-led which is so different to where we have been.”
Value Drivers
sell and market to different demographic
Pain
- marketing tactics haven’t changed in years
- bottles of wine have a short customer experience e.g. buy and drink
- difficult to market products to gen z
Outcome
- marketing channel for gen z
- purchasing decision for gen z
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Samuel Polgar