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Millennials Making It Luxe to Be More Ethical & Environmentally-Aware

SEPTEMBER 04, 2017 Millennial Marketing Insight from HypeLife Brands: "Millennials Making It Luxe to Be More Ethical & Environmentally-Aware"

"For these shoppers, sustainability matters in where they spend their money, and they look for markers of social and environmental awareness from the companies they support."

Source: What are you buying when you pay $5 for a cup of organic, single-origin, fair-trade coffee? Or a locally produced, sustainably sourced linen tunic? Or a Tesla Model X electric SUV? A delicious, attractive, or well-engineered product, of course. But luxury goods are rarely just about the product. People do want good design and craftsmanship, and high quality ingredients and materials. But they pay a premium for something more than that. Often it’s the subtle conveyance of good taste, access, and wealth. And increasingly, that high status is suggested in the language of conscious consumerism: “organic,” “sustainable,” “ethical.” The luxury industry is waking up fast to this reality, and responding with a slew of products and services geared to what the sociologist Elizabeth Currid-Halkett has called the “aspirational class”— those who “earnestly buy organic, carry NPR tote bags, and breast-feed their babies.”...[read the full article at]

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