Luxury brands struggle to attract Internet generation

Thanks for some good news.

Luxury brands struggle to attract Internet generation

Not really, ask Tokyo governor Masuzoe about internet generation's buying power.

Millennials are not 'skeptical' about items costing thousands of dollars, it is that they don't have the money to buy them.......

I'd assume it's also because people rather see/touch the real expensive brand item instead of buying it online in a chance to get ripped off.

Young people don't have money and they are not out to impress other people anyway. They don't need expensive clothes to prove their self esteme.

Still, brands such as Tiffany face a problem: some young people see them as “old-world luxury” items that don’t jibe with >>their Internet Age values and lifestyles, according to Neil Saunders of Conlumino retail research company.

Cheap crap splashed with huge advertising budget will sell better than expensive quality product nowadays, the young are slowly loosing the sense of "quality" because they can't access it because of the spam and noise in the internet, the mainstream thought is "it is not great but it is free/cheap so that is ok", a kind of race to the bottom.

and a sharing economy in which owning things like cars is seen as almost unhip.

Not sure who would think like this about the necessity of a car except for hipsters....

“They might buy one piece; if it’s very special, it’s very valuable, has a memory of a trip somewhere,” Quinlan said.

And this won't happen when you sell the same boring stuff everywhere.

I think I'm with the millennials on this one. The stuff the 'luxury' brands are trying to sell has no appeal for young people. The styles are either aimed at the monied section of the population - i.e., the oldies - and are frankly frumpy and not worth the price, or go too far the other way, past fashionable into frankly weird and not worth the price. The 'good' jewellery tends to be way over the top, with diamonds encrusted so thickly that the end result is gauche and not at all pretty.

It isn't a question of quality so much as one of style.

And cars? No one in a big city needs a car. It costs more to park a car than it does to run one.

As an ex manager for Harrods London the mark up is 250% up so just like most people i stay away.

And this won't happen when you sell the same boring stuff everywhere.

Good point! Every luxury strip mall in the world looks basically the same, with the same brands all over. Furthermore, Luxury brands have lost their appeal. Replicas are much cheaper but similar in quality and people realize what a rip-off luxury brands are.