Who are the premium customers of tomorrow? How do companies reach them, influence them and retain them? Millennials are already an influential and growing part of the premium consumer market but will shortly be the dominant segment. We surveyed 1000 millennials from the US, UK, Italy and China to understand what influences their premium buying habits and what this could mean for companies seeking to succeed in premium markets and engage with millennials. The findings show that this critical group of premium product consumers present entirely new challenges for brand companies in terms of communication and customer retention.

1. Bling it on
What makes a millennial spend more?

2. Luxury spending is
focussed on the self.
In our survey respondents
from all four geographies
were most likely to say that
they bought luxury to
please themselves,
not to impress others or
to do what influencers
or celebrities said they
should do.
19.7%
I like to treat myself
18.0%
They are of high quality
What are the main reasons you are willing to spend
money on high-end fashion or luxury items?
Bling it on | What makes a millennial spend more?
2

3. Millennials hear messages
from multiple channels
simultaneously.
Millennials inclined to
purchase luxury say
they find information from
traditional sources such as
magazines, through to
videos, websites and
blogs.
How do you find out about the latest
high-end fashion or luxury item trends?
20.5%
Social media
14.4%
Fashion magazines
15.1%
A brand’s website
Bling it on | What makes a millennial spend more?
3

4. Millennial luxury buying
is not routine; the pattern
of regular buying is giving
way to a much more
fragmented and
impulsive set of buying
behaviours.
When do you tend to consider purchasing
a high-end fashion or luxury item?
20.5%
For a particular occasion
(e.g. wedding, party, etc)
18.5%
When I want to treat myself
Bling it on | What makes a millennial spend more?
4

5. More than half of all
millennials surveyed still
like to buy in store, but
the reasons for this are
different.
25.6%
Can touch/feel the products
24.2%
Can try products
What do you think are the main benefits of shopping in store
when you're looking to buy high end fashion or luxury items?
Bling it on | What makes a millennial spend more?
5

6. Quality is king – it’s the
single most important
attractor to a brand.
What ONE thing most draws you to a luxury brand?
39.1%Quality products
Bling it on | What makes a millennial spend more?
6

7. In early 2017 Deloitte
commissioned a research
study of millennial
consumers in four key
markets, the US, UK,
Italy and China.
1,005
Total respondents
across
geographies
230+
Average
respondents
per geography
c. 30%
Spenders on
luxury products
20–30
years
Average age of
respondents
Bling it on | What makes a millennial spend more?
7

8. This publication has been written in general terms and we recommend that you obtain professional advice before acting or
refraining from action on any of the contents of this publication. Deloitte LLP accepts no liability for any loss occasioned to
any person acting or refraining from action as a result of any material in this publication.
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