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Jewellers will need to find the right balance between offline and online sales where exceptional customer service matters, and consumers will be better informed about what they are buying than ever before.
Millennials and Gen Z are driving the new acceptance movement, ‘Im-perfect’, embracing unusual imperfections and rejecting the social media obsessed, highly edited life the majority of their generation lead. Unfinished seams, studded accessories and piercings are juxtaposed with feminine dresses and smart tailoring, offering an ‘anything goes’ life mantra that so suits these gender fluid generations.
The Midult consumer continues to flourish, aged between 35-55, they form part of Gen X, which increasingly has huge spending power. This group are fueling the future of the luxury industry, as they choose to spend money on items that exude a juxtaposition of fauve fantasy, bold colours and classical culture. A truly global consumer, Midults are redefining their identities in countries all over the world.
The Ethical Vision movement is at the epicentre of urban culture and is steadily reaching mainstream fashion, accessories and beauty markets via influential tastemakers, musicians, festivals and increased media coverage. In response to this movement, luxury accessories come to life through tribal décor and alternative ethical, heritage concepts. The Ethnical Modernist consumer is most prevalent in key cities across the world where the largest numbers of migrants reside.
The Retro Futurist consumer is living in a past-present future, where surreal technology like VR and AR exist within a world where the past is still so important and prevalent. This consumer group holds their family history near and dear to their hearts, allowing notes of Futurist Glam, with a 1950’s/60’s flavour, to infiltrate their physical persona.
As gender roles become more flexible, a new generation of forward-looking men is emerging. Stale stereotypes alienate open-minded, self-accepting Millennials and Gen Z, while Gen X are the ones truly embracing the modern man. This new-found, genderless masculinity is opening up new realms for this new consumer group. They’re increasingly open, fluid, curious, exploring the world through new eyes.