Final part: How Rich Millennials Are Changing the Meaning of Luxury. Part III.
This is the third and final installment of my series on the 10 new status symbols of rich millennials. In case you missed them, here are the links:
- Part I: How rich millennials value quality, authenticity, and sustainability over quantity, imitation, and wastefulness.
- Part II: How rich millennials prioritize wellness, fashion, and food that enhance their well-being, style, and ethics.
In this part, I will reveal the last 4 status symbols that define luxury for rich millennials.
7. Online Education
Education is another key aspect of luxury for rich millennials. But they are not interested in the traditional classroom setting or the rigid curriculum. They are interested in online education that is flexible, accessible, and personalized.
Online education is education that is delivered through the internet, using platforms such as websites, apps, podcasts, videos, and webinars. It allows learners to access a variety of courses, topics, and levels at their own pace, time, and place. It also enables learners to interact with instructors, peers, and experts from around the world.
Online education offers rich millennials many advantages, such as convenience, affordability, and diversity. It also helps them to acquire new skills, knowledge, and credentials that can enhance their personal and professional growth.
Some of the most popular online education platforms among rich millennials are:
- Coursera, which offers courses, certificates, and degrees from top universities and companies in various fields.
- MasterClass, which offers classes from celebrities and experts in various domains, such as cooking, writing, music, and business.
- Skillshare, which offers classes from creative professionals in various topics, such as design, photography, marketing, and entrepreneurship.
8. High-Tech Baby Cots
As rich millennials start to have kids, they are also looking for ways to make parenting easier and more enjoyable. One of the items that they are splurging on is high-tech baby cots that can soothe, monitor, and entertain their babies.
High-tech baby cots are cots that are equipped with features such as motion sensors, cameras, speakers, lights, and screens. They can detect the baby’s movements, sounds, and emotions, and respond accordingly. They can also play music, stories, and videos, and show the baby’s stats and alerts.
High-tech baby cots offer rich millennials convenience, peace of mind, and fun. They also help them to create a safe, comfortable, and stimulating environment for their babies.
Some of the most innovative high-tech baby cots among rich millennials are:
- The Snoo Smart Sleeper, which can rock, shush, and swaddle the baby to sleep.
- The Nanit Plus Smart Baby Monitor, which can track the baby’s sleep patterns, breathing, and temperature.
- The 4moms mamaRoo Sleep Bassinet, which can mimic the motions of a car ride, a kangaroo, a tree swing, and more.
9. Personalized Jewelry
Jewelry is another way that rich millennials express their individuality and style. But they are not interested in the mass-produced or generic pieces. They are interested in personalized jewelry that is unique, meaningful, and customized.
Personalized jewelry is jewelry that is made to order according to the customer’s specifications, such as size, shape, color, material, design, and engraving. It can also incorporate elements such as names, initials, dates, symbols, and photos.
Personalized jewelry offers rich millennials a way to celebrate their identity, relationships, and milestones. It also helps them to create a lasting impression and a memorable gift.
Some of the most popular personalized jewelry options among rich millennials are:
- Mejuri, which offers fine jewelry that can be engraved with letters or numbers.
- AUrate, which offers ethical and sustainable jewelry that can be customized with gemstones and diamonds.
- BaubleBar, which offers trendy and affordable jewelry that can be personalized with charms and beads.
10. Philanthropy
Finally, one of the most noble ways that rich millennials are redefining luxury is by giving back to society. They are not just hoarding their wealth, but sharing it with causes that they care about. They are not just donating money, but also time, skills, and influence.
Philanthropy is the act of supporting charitable organizations or initiatives that aim to improve the lives of others or the world at large. It can involve giving funds, goods, services, or expertise, as well as raising awareness, advocating, or volunteering.
Philanthropy offers rich millennials a sense of purpose, fulfillment, and impact. It also helps them to make a positive difference and leave a legacy.
Some of the most inspiring examples of philanthropy among rich millennials are:
- Mark Zuckerberg, who co-founded the Chan Zuckerberg Initiative with his wife Priscilla Chan, which focuses on education, health, and justice.
- Emma Watson, who is a UN Women goodwill ambassador and a champion of gender equality and education.
- Malala Yousafzai, who founded the Malala Fund with her father Ziauddin Yousafzai, which supports girls’ education and empowerment.
Conclusion
These status symbols illustrate how rich millennials invest in their growth, family, identity, and impact. They seek platforms and products that help them learn new skills, knowledge, and credentials, provide a safe, comfortable, and stimulating environment for their babies, celebrate their identity, relationships, and milestones, and give back to society and the world.
They are not only consumers of luxury, but also creators of it. They are using their wealth, influence, and creativity to shape the future of luxury and the world. They are setting new standards and trends for luxury that will inspire and challenge the generations to come.
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