How Rich Millennials Are Changing the Meaning of Luxury. Part II.
Welcome back to my series on how rich millennials are redefining luxury with their 10 new status symbols. In the first part, I explained how they are choosing quality over quantity, authenticity over imitation, and sustainability over wastefulness. In this part, I will continue to explore their preferences and values, and how they are reflected in their consumption choices. Here are the next 3 status symbols that rich millennials are embracing:
4. Wellness Retreats
Travel is another important aspect of luxury for rich millennials. But they are not looking for the typical tourist attractions or crowded resorts. They are looking for wellness retreats that can offer them relaxation, rejuvenation, and transformation.
Wellness retreats are destinations that focus on the physical, mental, and spiritual well-being of their guests. They offer activities such as yoga, meditation, spa treatments, hiking, and detox programs. They also provide healthy and organic food, comfortable and eco-friendly accommodations, and personalized guidance.
Some of the most popular wellness retreats among rich millennials are:
- The Miraval Arizona Resort & Spa, which is located in the Sonoran Desert and offers a holistic approach to wellness.
- The Ananda in the Himalayas, which is situated in the foothills of the Himalayas and offers a blend of Ayurveda, yoga, and meditation.
- The Six Senses Douro Valley, which is set in a 19th-century manor house in Portugal and offers a range of therapies, workshops, and activities.
5. Sustainable Fashion
Fashion is another way that rich millennials express their identity and style. But they are not interested in fast fashion or mass-produced clothing. They are interested in sustainable fashion that is ethically made, environmentally friendly, and socially responsible.
Sustainable fashion is clothing that is made from natural, organic, or recycled materials, that minimizes waste and pollution, and that supports fair labor practices and human rights. It also reflects the values and aesthetics of the millennial generation, such as diversity, inclusivity, and authenticity.
Some of the most notable sustainable fashion brands among rich millennials are:
- Reformation, which makes stylish and feminine clothing from recycled fabrics and renewable materials.
- Everlane, which makes minimalist and timeless clothing from high-quality materials and transparent pricing.
- Patagonia, which makes durable and functional clothing from organic cotton and recycled polyester.
6. Plant-Based Food
Food is another essential part of luxury for rich millennials. But they are not satisfied with the conventional meat-based diet. They are opting for plant-based food that is healthier, tastier, and more ethical.
Plant-based food is food that is made from plants or plant-derived ingredients, such as fruits, vegetables, grains, nuts, seeds, legumes, and fungi. It excludes animal products such as meat, dairy, eggs, and honey. It also avoids artificial additives, preservatives, and GMOs.
Plant-based food offers rich millennials many benefits, such as lower cholesterol, blood pressure, and inflammation levels; higher energy, immunity, and mood; and reduced risk of chronic diseases, such as diabetes, heart disease, and cancer.
Some of the most popular plant-based food options among rich millennials are:
- Beyond Meat, which makes plant-based meat alternatives that look, cook, and taste like real meat.
- Oatly, which makes plant-based dairy alternatives that are made from oats and are creamy and delicious.
- Impossible Foods, which makes plant-based meat alternatives that are made from soy and have a meaty texture and flavor.
Summary
In this part, I have shown you how rich millennials are redefining luxury with these 3 new status symbols:
- Wellness Retreats
- Sustainable Fashion
- Plant-Based Food
These status symbols demonstrate how rich millennials are prioritizing their health, happiness, and harmony with nature. They are looking for experiences and products that can enhance their well-being, express their style, and support their ethics. They are not satisfied with the conventional or the superficial. They are seeking the holistic and the meaningful.
I hope you enjoyed this part and learned something new. In the next part, I will reveal the final 4 status symbols that rich millennials are adopting to redefine luxury. They are:
- Online Education
- High-Tech Baby Cots
- Personalized Jewelry
- Philanthropy
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Disclaimer: The links in this article are not sponsored or endorsed by any of the brands or organizations mentioned. They are provided for informational purposes only and based on my own research. The opinions expressed in this article are my own and do not necessarily reflect those of the brands or organizations mentioned. Please do your own research before making any purchase or donation decisions. Thank you for reading.🙏
