Next-Gen Luxury & Rise of Gen Z’s Influence

Challenges facing the luxury industry are many, from continued travel restrictions impacting the shopping tourism market across the globe to shifts in consumer buying patterns and expectations. However, 2021 also offers new opportunities for this sector, including Gen Z’s growing interest in high-end products, an affluent consumer impatiently waiting to return to spending, and the growth of luxury resale.

The biggest trend is luxury’s embrace of digital retailing. While luxury brands have traditionally been reluctant to sell their goods online, in a COVID-rocked world many designer fashion houses, jewelers and other top-tier purveyors are embracing online to survive in this new retail reality.

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About the Contributor

Tyler Higgins

About the Contributor

Tyler has robust experience leading multi-year sourcing initiatives within Higher Education, Retail, Consumer Products, Transportation and Energy, achieving over $250M in strategic profitability improvement. He has over 10 years of sourcing experience and developing strategic solutions regarding innovation, automation, process improvements, and strategic programs integral in generating substantial strategic profitability improvement. He has completed projects in a multitude of sourcing categories including temporary labor, most facilities (material and services) areas, IT hardware and software, scientific supplies, supply chain/transportation, outsourcing and human resource benefits. Tyler holds a Bachelor of Science degree in Environmental Economics from the University of California, Berkeley, and is a published author in Internet Retailer.
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