As the luxury industry faces a complex economic climate, it is also undergoing a major transformation in the way wealthy consumers shop. Younger buyers, in particular, are shifting their focus from status to meaning and emotion, embracing what researchers call “de-linearized luxury”—immersive experiences beyond traditional retail channels. This evolving dynamic is a central finding of “New Desires, Luxury De-Structuring,” a study conducted by marketing data firm Kantar Insights and research group Altiant.

Conducted in 2025 across France, China, the United States, and the United Arab Emirates, the survey drew on Altiant’s LuxuryOpinions® panel, polling 600 affluent men and women—half under the age of 35—who rank among the top 10% to 1% income brackets in their respective countries.

The first major takeaway is that experience reigns supreme. “Luxury is no longer just about status or legacy; it’s about living an experience here and now,” the study notes. The research particularly highlights young High Net Worth Individuals (HNWIs), referred to as “Affluents,” who are “seeking intense experiences, both physical and digital, with a real obsession for sensation,” the researchers explain.

Skyrocketing prices, greenwashing, aggressive marketing, ethical concerns, and a lack of transparency have all pushed consumers away from traditional high-end goods. A growing fatigue with conventional luxury is setting in—a trend also noted by consulting firm Bain & Company. The traditional “desire-purchase-possession” model is losing its appeal.

Instead, today’s younger consumers are chasing experiences. They are drawn more to travel, wellness, and quality living than to owning luxury products. “This sensory luxury is about breaking down barriers—it’s a wider embrace of pleasure, well-being and living in the moment,” the study explains.

“It’s not that young Affluents are abandoning luxury—they’re calling for a deeper transformation. They are questioning meaning, seeking emotional connection, looking for innovation, and expecting brands to reinvent themselves,” said Françoise Hernaez, head of luxury at Kantar Insights France.

The fall of ownership as a symbol

The trend has only accelerated since the COVID-19 crisis. According to the study, 43% of respondents plan to spend more on spas, 40% on hotels, and 37% on fine dining. Even more telling, 84% said they view “luxury first and foremost as an incredible in-store experience.”

“Brands that create immersive experiences—whether physical-digital hybrids, sensory experiences, or story-driven interactions—and build bridges across sectors like fashion, beauty, and hospitality will come out ahead,” said Cécile Lejeune, president of Kantar Insights France. “Younger consumers crave rich, immersive content—from runway videos and artisan craftsmanship to information about sustainable practices.”

Another major break from the past is the devaluation of ownership as the ultimate goal. Even wealthy young consumers are moving beyond traditional luxury pathways, embracing more fluid and personalized ways to engage with luxury, such as buying and sharing high-end goods.

Shared ownership is a rising trend among younger consumers, alongside secondhand purchases, rentals, “dupes” (affordable alternatives to luxury goods made by rival brands), and co-luxing—buying luxury products as a group to share. “Today, luxury is something you live, not just something you own,” the researchers note.

The study found that 28% of respondents buy secondhand (41% in China), 20% rent luxury items, and 17% practice co-luxing with friends. “These new habits, pioneered by younger consumers, are influencing older generations too—a clear sign that traditional ideas of luxury are being fundamentally redefined,” said Anne-Lise Toursel, managing director of Kantar Insights France.

A hunger for innovation and fresh ideas

After years of minimalist, low-key luxury dominating the scene, a growing shift toward highly personalized luxury is underway, driven by a mosaic of desires and motivations. This change is fueling strong demand for innovation and novelty, particularly in China and the United States.

The study maps different consumer profiles based on purchasing motivations: “Cultural explorers” lead the group (25%), followed by “festive charismatics” (20%), “ambitious prestige seekers” (18%), and “authentic advocates.” This rich diversity of aspirations allows brands to connect more deeply, moving beyond outdated Gen Z stereotypes.

The evolving landscape challenges luxury houses to move away from rigid segmentation and create more flexible, customized experiences.

Consumers are also increasingly willing to hold brands accountable, particularly regarding social and environmental responsibility. On sustainability alone, 67% of young Affluents say they would “punish” a brand that fails to meet environmental standards.

To win over next-generation consumers, luxury brands must rethink their strategies from the ground up—embracing transparency, creativity, and agility to stay relevant.