Millennial consumers seek high-end trinkets with sentimental value
Implications - Millennials are delaying adulthood, achieving adulthood milestones at a later rate than any other generation. The money they are saving by avoiding things like homeownership is spent growing their key values of individuality and memorable experience; as they grow older and attain more disposable income, however, their tastes become more sophisticated. This has caused growth within the high-end nostalgia market.
Workshop Question - How does your brand or product accommodate the changing values of the modern consumer?
Trend Themes
1. High-end Nostalgia Market - The growth of high-end nostalgia market is driven by millennial consumers who are delaying adulthood and are seeking memorable experiences and individuality.
2. Nostalgia-based Product Line - Collaborations with nostalgic themes like Disney's Beauty and the Beast provides opportunities for lifestyle and personal product line with unique collectibles.
3. Upscale Nostalgic Fashion Accessories - Upscale brands can modify inexpensive iconic items from the past to create high-end products like adult mood rings, backpacks, and other stylish and nostalgia-inducing accessories.
Industry Implications
1. Luxury Goods - The high-end nostalgia market brings growth opportunities for luxury goods companies as millennials prefer sophisticated and unique experiences as they attain more disposable income.
2. Fashion and Apparel - Product collaborations inspired by nostalgic themes like Disney have created a significant market growth opportunity for the fashion and apparel industry to cater to millennial consumers who value memorable experiences and individuality.
3. Hospitality and Travel - The success of establishments with enchanting and themed offerings like Fairy Tale Hotels and Adult Summer Camps creates growth prospects for the hospitality and travel industry, especially those catering to nostalgic millennials.
8 Featured, 72 Examples:
462,845 Total Clicks
Date Range:
May 11 — Jun 17
Trending:
Warm
Consumer Insight Topics:
