Luxury means something different for everyone. What does luxury mean for the over 50s? What defines a luxury item? In the spring of 2018 Roularta Research launched a survey on this theme among readers of Knack/Le Vif Weekend, Nest, Plus Magazine and Trends Style. 3177 respondents older than 55 shared their opinion.
For the over 55s, luxury mainly means quality (36%) and indulgence (29%). The older, the more important quality is. According to baby boomers, craftsmanship (80%), attention to detail (80%) and indestructible quality (76%) distinguish luxury objects from ordinary objects.
1 out of 4 over 55s feels attracted to luxury brands and products. The vast majority of them admit that luxury brands are inevitably more expensive and according to 1 out of 2 respondents the purchase of luxury products is therefore a real investment. They also like to make an investment themselves. Over the past 5 years, they have mainly bought clothing (36%), trips (27%) or shoes (24%) from a luxury brand or in a luxury version. Nevertheless, they don’t buy without thinking: more than 1 out of 3 over 55s only buy luxury after careful consideration. Value for money (96%) and reputation (80%) play an important role in this decision-making process.
Source: Roularta Research, Luxury survey 2018