LUXONOMY Report: Profile of the New Post-2030 Luxury Consumer

president LUXONOMY™ Group

The luxury sector is undergoing a profound transformation leading up to 2030. The next generations of ultra-premium consumers will be more plentiful, younger, and culturally diverse than ever, with values and purchasing behaviors markedly different from those of past decades. Projections show sustained growth of the global luxury market (goods and experiences) to around €2.5 trillion by 2030, driven by a generational shift and the addition of new consumers from emerging markets. This report – grounded in quantitative forecasts and academic and market sources – provides an in-depth analysis of the defining characteristics and key trends of the new post-2030 luxury consumer. It covers seven essential areas: from their demographic profile and shopping habits to ethical priorities, cultural differences, sustainability demands, adaptation to the post-digital context, and changes across various luxury sectors. Together, these insights offer a comprehensive predictive view of luxury in the coming decade.

1: Introduction

1.1. Report Objectives
1.2. Methodology and Sources
1.3. Contextualizing the Post-2030 Luxury Market

2: Ultra-Premium Consumer Profile

2.1. Key Demographic Characteristics
2.2. Geographic Distribution and Emerging Markets
2.3. Generational Segmentation: Z, Millennials, Alpha, and Silver Generation
2.4. Socioeconomic and Cultural Factors Shaping the Ultra-Premium Consumer

3: Consumer Shopping Habits and Behaviors

3.1. Physical vs. Digital Consumption Trends
3.2. Impact of AI-Powered Advisory Services
3.3. Immersive Experiences and Metaverse Shopping Trends
3.4. Luxury Spending Frequency and Patterns
3.5. The Role of Social Media and Digital Platforms in Decision Making

4: Ethical Priorities and Emerging Values

4.1. Sustainability and Environmental Commitment
4.2. Inclusion, Diversity, and Cultural Representation
4.3. Traceability and Supply Chain Transparency
4.4. Circular Economy and the Rise of Luxury Resale Markets
4.5. Committed Brands: Case Studies

5: Sector Preferences in the Luxury Market

5.1. Luxury Fashion and Accessories
5.2. Ultra-Premium and Sustainable Automotive Sector
5.3. Exclusive Travel and Personalized Experiences
5.4. Health, Wellness, and Longevity as New Luxury Frontiers
5.5. Art, Culture, and One-of-a-Kind Experiences

6: Post-Digital and Technological Context

6.1. Digital Transformation and Technological Convergence in Luxury
6.2. Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (XR)
6.3. Blockchain, NFTs, and Digital Assets in Luxury
6.4. Big Data and Machine Learning for Hyper-Personalization

7: Customer Acquisition and Loyalty Strategies

7.1. Innovative Digital and Omnichannel Marketing Strategies
7.2. Exclusive Membership and Loyalty Programs
7.3. Hyper-Personalized Experiences as Competitive Advantage
7.4. Strategic Collaborations and Brand Partnerships

8: Challenges and Opportunities in a Post-2030 Environment

8.1. Adapting to Global and Local Sustainability Regulations
8.2. Privacy and Data Protection Challenges
8.3. Crisis Management in a Highly Ethically Sensitive Market
8.4. Emerging Opportunities: Disruptive Markets, Sectors, and Trends

Conclusions

9.1. Key Findings and Strategic Recommendations
9.2. Future Outlook for Luxury Brands
9.3. Agenda 2040: Anticipating the Next Decade of Luxury Consumers

1. General Characteristics of the Post-2030 Ultra-Premium Consumer

General demographic profile (age, location, income, education): The new post-2030 luxury consumer skews younger than in the past. By 2030, Millennials (Gen Y) and Gen Z, together with the emerging Gen Alpha, are expected to dominate the luxury client base – accounting for roughly 80% of global luxury purchases. In particular, Gen Z and Alpha’s spending is projected to grow three times faster than older generations, reaching one-third of the market by 2030. This means the average age of ultra-premium consumers will drop, with many important buyers in their 30s and 40s. The generational shift is already clear: the “younger generation” aged 25–35 now makes up ~40% of luxury customers and one-third of sales, and this share will continue rising as these cohorts gain greater purchasing power. Regarding geography, the luxury landscape is becoming more global and increasingly centered on Asia. Emerging regions will bring tens of millions of new luxury consumers: according to Bain, markets like Latin America, the Middle East, India, and Africa could add over 50 million upper-middle-class luxury consumers by 2030, helping offset slower growth in China or even North America. Even so, Asia-Pacific will lead – China is poised to overtake the US as the largest market for personal luxury goods by 2030. Indeed, Asia will host the majority of the world’s wealthy: an HSBC report forecasts Asia could have about 150 million millionaires by 2030 (more than half of the world total), reflecting rapid wealth creation in China and India. North America and Europe will still have significant affluent populations (50 and 70 million millionaires respectively), but their relative weight will decline compared to Asia. The Middle East also stands out for its high concentration of wealth in the Gulf; countries like the UAE and Saudi Arabia are seeing young affluent elites emerge (boosted by initiatives like Vision 2030), which will help double the region’s luxury market value by 2030. In terms of income and socio-economic level, we are essentially talking about consumers in the top echelons of global wealth. The number of ultra-high-net-worth individuals (UHNWIs) is rising each year, expanding the “ultra-premium” client base. Although they account for <1% of luxury customers, these ultra-rich individuals generate about 23% of the market’s total value, underscoring their role as a key engine of long-term growth. By 2030, there could be nearly 275 million millionaires worldwide (up from ~156 million in 2021), signaling a significant broadening of the affluent segment that can afford luxury. A large share of this segment will be highly educated: typically they hold advanced degrees and many have studied or lived abroad, giving them a cosmopolitan outlook. In fact, it’s common for these consumers to speak multiple languages and view themselves as “global citizens”, fluidly moving between major world cities for business and leisure. Another noteworthy demographic trend is the gradual rise of wealthy women: women’s share of the UHNWI segment grew from ~6.5% in 2010 to about 10.9% in 2022, driven by a combination of wealth transfer and a growing (though still small) number of self-made female moguls. By 2030 we will see more women making major luxury purchases, spurring product and marketing approaches that reflect gender diversity.