The age of enjoying luxury goods is getting younger and younger.

In 2030, it is predicted that the MZ generation (those born in the early 1980s and early 2010s) and the alpha generation (those born after 2011) will be reborn as big hands who consume 80% of the world's luxury goods.

In the luxury industry, the alpha generation, from today's infants to elementary school students, is seen as the main customer group of the future.

Elementary school students now, 'big hands' to feed the luxury industry in 17 years

According to CNBC on the 17th (local time), the consulting firm Bay & Company released a report saying, "By 2030, the MZ generation and younger generations will account for 80% of global high-end fashion brand sales."

At the same time, it was predicted that the proportion of consumption by Generation Z (those born in the mid-1990s to early 2010s) and the Alpha generation, currently under the age of 13, would be about one-third of the total by 2030.

While the craze for luxury items has been continuing in recent years centered on the MZ generation, the growth of the luxury goods industry last year also had a great impact on the purchasing power of the MZ generation.

Bay & Company revealed that Generation Z's first purchase age is about 15 years old, which is 3 to 5 years earlier than the Millennial (M) generation (those born in the mid-1980s to the mid-1990s).

It is because the consumption of luxury goods has become easier than before as SNS spreads along with the increase in the wealthy and online sales channels have become established in everyday life.

As such, the economic recession is a different story for the luxury industry.

Despite a sharp rise in prices, a rise in interest rates, and an economic downturn, sales in the luxury goods industry last year were unaffected, and rather, global sales increased by 22% year-on-year to reach 353 billion euros (approximately KRW 471 trillion), Bay & Company said. said.

Koreans, luxury goods consumption per capita 'World's No. 1'

Meanwhile, a survey showed that Koreans consumed the most luxury goods per capita in the world last year.

Investment Bank (IB) Morgan Stanley estimated that Koreans' luxury consumption in 2022 will increase by 24% from 2021 to $ 16.8 billion, which is about 20.9 trillion won in our money.

If you hit it per person, it's 325 dollars, or about 404,000 won.

This is much more than $55 in China (about 68,000 won) and $ 280 (about 348,000 won) in the United States.

As the fever for luxury goods in Korea spreads around the MZ generation, love calls from the luxury goods industry for K-pop idols are continuing.

BTS Jimin was recently selected as a global ambassador for the French luxury brand Dior, and in addition to Jimin, Blackpink Jisoo and singer/actress Suzy are active as the face of Dior.

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Chanel's representative ambassador is Blackpink's Jenny, another member Rosé is Saint Laurent, and Lisa is working as an ambassador for Celine.

In addition, Hyein, a member of New Jeans, which debuted less than a year ago, was selected as the new ambassador for Louis Vuitton, and another member, Daniel, for Burberry.

An official from the fashion industry said, "As the major consumers of luxury goods are moving to the MZ generation, they seem to be using popular K-pop idols as models to build a trendy and young-Korean brand image." The same phenomenon will continue.”

(Photo = Screen capture from Bloomberg website)