Moneyed millennials redefine luxury

The Future. As millennials age into higher income brackets, the generation’s appetite for luxury has changed. Gone is the exclusive focus on experiences and sneakers; if wealthier millennials’ spending habits are any indication, the demand for cars, cosmetics, and gadgets may not be going away anytime soon.

Playing house
Affluent millennials are building homes similar to those of previous generations.

• It turns out millennials like stuff after all, including fancy hand soaps, kitchen appliances, coffee machines, and bougie baby cots.
• Calming “spa bathrooms” and immaculate laundry rooms are also priorities.
• Electric cars’ record popularity also suggests high home ownership rates, since they can only recharge at expensive power stations that must be installed in a home and are often unavailable to renters.

Like father, like sort of
It’s not all the same. Millennials spend more on luxury pet goods, possibly because they’re having kids later than their parents and need to vent the parental instinct. Millennial women are also getting more plastic surgery, perhaps thanks to influencer icons like the Kardashians.

So when you become your parents, at least you won’t look like them.