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For over a century, luxury has been a mirror reflecting society’s aspirations, anxieties and self‑image.
In the late 19th Century, during the US’s so‑called Gilded Age, the surface shimmered with gold; yet beneath it lay inequality, corruption and a relentless hunger for status. The name itself was a warning: gilded, not golden. A thin veneer masking something far less flattering.
In many ways, the past two decades of luxury consumption have echoed that same gilded impulse. Flashy logos, monogrammed everything and the unmistakable grammar of conspicuous consumption – a phrase coined by economist Thorstein Veblen in reference to the public display of wealth as a form of social signalling.
Luxury fashion houses built empires on this logic, plastering their initials across handbags, sneakers and even water bottles. The message was clear: “If you’ve got it, flaunt it.”
But something has shifted. Many of today’s luxury consumers – whether newly affluent or simply more mature in taste – have begun to reject the bling. They are turning away from the ostentatious and towards something quieter, deeper and infinitely more meaningful. The codes of luxury, once again, are being rewritten.
In these less-than-Roaring 20s, luxury consumers are no longer satisfied with loud branding or the paradox of mass‑market “exclusivity”. They want craftsmanship, sensual materials and objects that whisper rather than shout. They also demand personalisation, customisation and, above all, authentic exclusivity – not the kind that can be bought off a shelf, but the kind that feels earned, intimate and rare. This shift is not merely aesthetic; it is philosophical.
The new luxury mindset aligns with Coco Chanel’s enduring observation: “Luxury is the opposite of vulgarity.” Where once logos served as social armour, now they feel gauche. Where once the goal was visibility, now it is discernment. The typical consumer wants to be perceived as old money, even if they are decidedly “new”. They want to signal taste, not wealth; knowledge, not noise (much more on luxury and status signalling here).
This is luxury as a cultural code, not merely a commodity.
Joseph Pine and James Gilmore’s seminal concept of the Experience Economy has never felt more relevant. The new luxury consumer is buying memories, transformations and identity.
This drives them towards investing in:
For the most evolved consumer, Pine and Gilmore’s next frontier – the so-called Transformative Economy – is the true destination. Here, luxury is not about what you own or even what you experience, but who you become. It aligns seamlessly with Maslow’s highest tier: self‑actualisation. In this way, luxury becomes intertwined with our life’s journey.
While older consumers may be maturing into this new sensibility, Generation Z is picking up and running with it. Now an important luxury customer segment in its own right, this new generation – digitally native, globally connected and socially conscious – demands that luxury brands stand for something beyond beauty.
They seek:
For Gen Z, luxury is not a badge of superiority; it must reflect their values. They are willing to spend, but only when the brand’s ethics match their own. This is a profound shift and one that will reshape the industry for decades.
Much has been written about the slowdown in Chinese luxury spending, but the industry’s gaze has already shifted to India, a market whose relationship with luxury stretches back millennia. Maharajas, artisans and centuries of craftsmanship have created a cultural foundation to which luxury is intrinsic.
India’s rapidly expanding class of high‑net‑worth individuals is attracting the attention of luxury fashion, automotive and jewellery brands. Yet this market presents a challenge: flashy branding and bling do not resonate with a culture that has long valued refinement, heritage and artistry.
To succeed in India, brands must understand that the cultural codes of luxury must be interpreted, not imported.
Geographically distant from the traditional luxury capitals, Perth in Western Australia has emerged as an unexpected powerhouse. With one of the world’s highest concentrations of centi-millionaires and self-made millionaires, Perth’s wealth is understated but no less substantial.
While global luxury fashion brands have established a presence there – and can certainly sustain it – the real appetite lies elsewhere, in the form of:
A striking example of this new luxury ethos is Crown Towers Perth, the only hotel in Australia to hold a Forbes Travel Guide five-star rating. It does not rely on fake gold, theatrical staging or the clichés of “traditional luxury”. Instead, it offers something far more compelling: simplicity, elegance and an unwavering commitment to service excellence. This is luxury without pretence, perfectly aligned with the new consumer.
Even in New York, where luxury hotels once competed to emulate Europe’s grand dames, the trailblazers today are those that offer intimacy rather than spectacle. Their lobbies feel like private members’ clubs, not bustling public spaces. Their receptions are discreet, their service anticipatory.
Walk in unannounced and you may be gently asked: “Do you have a reservation?” or “Are you a member?” This is not exclusion for exclusion’s sake. It is the creation of boundaries; the invisible velvet rope that signals privacy, privilege and belonging. It is luxury as a curated community, away from the crowds.
To conclude, I very much feel that luxury is entering a new era, one that rejects the superficiality of the Gilded Age and the excesses of logo-driven consumption. While some may cling to the fool’s gold and cut glass of decades past (perhaps the last Baby Boomers still sporting their fake tans?), the market has moved on as new generations have taken prominence.
The new luxury consumer is:
They understand that true luxury is not about being seen, it is about being understood. This is why I feel strongly that in our world today bling is not just outdated; it is irrelevant. The future belongs to brands, destinations and experiences that offer depth, craftsmanship, meaning and exclusivity that cannot be mass-produced.
Luxury, once again, is becoming what it was always meant to be: A celebration of the exceptional, not the excessive.
For over a century, luxury has been a mirror reflecting society’s aspirations, anxieties and self‑image.
In the late 19th Century, during the US’s so‑called Gilded Age, the surface shimmered with gold; yet beneath it lay inequality, corruption and a relentless hunger for status. The name itself was a warning: gilded, not golden. A thin veneer masking something far less flattering.
In many ways, the past two decades of luxury consumption have echoed that same gilded impulse. Flashy logos, monogrammed everything and the unmistakable grammar of conspicuous consumption – a phrase coined by economist Thorstein Veblen in reference to the public display of wealth as a form of social signalling.
Luxury fashion houses built empires on this logic, plastering their initials across handbags, sneakers and even water bottles. The message was clear: “If you’ve got it, flaunt it.”
But something has shifted. Many of today’s luxury consumers – whether newly affluent or simply more mature in taste – have begun to reject the bling. They are turning away from the ostentatious and towards something quieter, deeper and infinitely more meaningful. The codes of luxury, once again, are being rewritten.
In these less-than-Roaring 20s, luxury consumers are no longer satisfied with loud branding or the paradox of mass‑market “exclusivity”. They want craftsmanship, sensual materials and objects that whisper rather than shout. They also demand personalisation, customisation and, above all, authentic exclusivity – not the kind that can be bought off a shelf, but the kind that feels earned, intimate and rare. This shift is not merely aesthetic; it is philosophical.
The new luxury mindset aligns with Coco Chanel’s enduring observation: “Luxury is the opposite of vulgarity.” Where once logos served as social armour, now they feel gauche. Where once the goal was visibility, now it is discernment. The typical consumer wants to be perceived as old money, even if they are decidedly “new”. They want to signal taste, not wealth; knowledge, not noise (much more on luxury and status signalling here).
This is luxury as a cultural code, not merely a commodity.
Joseph Pine and James Gilmore’s seminal concept of the Experience Economy has never felt more relevant. The new luxury consumer is buying memories, transformations and identity.
This drives them towards investing in:
For the most evolved consumer, Pine and Gilmore’s next frontier – the so-called Transformative Economy – is the true destination. Here, luxury is not about what you own or even what you experience, but who you become. It aligns seamlessly with Maslow’s highest tier: self‑actualisation. In this way, luxury becomes intertwined with our life’s journey.
While older consumers may be maturing into this new sensibility, Generation Z is picking up and running with it. Now an important luxury customer segment in its own right, this new generation – digitally native, globally connected and socially conscious – demands that luxury brands stand for something beyond beauty.
They seek:
For Gen Z, luxury is not a badge of superiority; it must reflect their values. They are willing to spend, but only when the brand’s ethics match their own. This is a profound shift and one that will reshape the industry for decades.
Much has been written about the slowdown in Chinese luxury spending, but the industry’s gaze has already shifted to India, a market whose relationship with luxury stretches back millennia. Maharajas, artisans and centuries of craftsmanship have created a cultural foundation to which luxury is intrinsic.
India’s rapidly expanding class of high‑net‑worth individuals is attracting the attention of luxury fashion, automotive and jewellery brands. Yet this market presents a challenge: flashy branding and bling do not resonate with a culture that has long valued refinement, heritage and artistry.
To succeed in India, brands must understand that the cultural codes of luxury must be interpreted, not imported.
Geographically distant from the traditional luxury capitals, Perth in Western Australia has emerged as an unexpected powerhouse. With one of the world’s highest concentrations of centi-millionaires and self-made millionaires, Perth’s wealth is understated but no less substantial.
While global luxury fashion brands have established a presence there – and can certainly sustain it – the real appetite lies elsewhere, in the form of:
A striking example of this new luxury ethos is Crown Towers Perth, the only hotel in Australia to hold a Forbes Travel Guide five-star rating. It does not rely on fake gold, theatrical staging or the clichés of “traditional luxury”. Instead, it offers something far more compelling: simplicity, elegance and an unwavering commitment to service excellence. This is luxury without pretence, perfectly aligned with the new consumer.
Even in New York, where luxury hotels once competed to emulate Europe’s grand dames, the trailblazers today are those that offer intimacy rather than spectacle. Their lobbies feel like private members’ clubs, not bustling public spaces. Their receptions are discreet, their service anticipatory.
Walk in unannounced and you may be gently asked: “Do you have a reservation?” or “Are you a member?” This is not exclusion for exclusion’s sake. It is the creation of boundaries; the invisible velvet rope that signals privacy, privilege and belonging. It is luxury as a curated community, away from the crowds.
To conclude, I very much feel that luxury is entering a new era, one that rejects the superficiality of the Gilded Age and the excesses of logo-driven consumption. While some may cling to the fool’s gold and cut glass of decades past (perhaps the last Baby Boomers still sporting their fake tans?), the market has moved on as new generations have taken prominence.
The new luxury consumer is:
They understand that true luxury is not about being seen, it is about being understood. This is why I feel strongly that in our world today bling is not just outdated; it is irrelevant. The future belongs to brands, destinations and experiences that offer depth, craftsmanship, meaning and exclusivity that cannot be mass-produced.
Luxury, once again, is becoming what it was always meant to be: A celebration of the exceptional, not the excessive.
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It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution
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