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The Impact of Generation Z on the Luxury Market: Rethinking the Status and Values of Luxury for the New Generation of Consumers

In: The Evolution of Luxury Brands, Volume II

Author

Listed:
  • Daria Batamirova

    (University of Nicosia)

  • Alkis Thrassou

    (School of Business, University of Nicosia)

Abstract

This research explores Generation Z’s (Gen Z) transformative impact on the luxury market, examining their values, behaviors, and preferences that redefine traditional luxury. Using a Systematic Literature Review (SLR) and Critical Discourse Analysis (CDA), it synthesizes insights from academic and industry sources, identifying themes such as sustainability, digital engagement, and identity-driven consumption. CDA reveals how media and industry narratives frame Gen Z as disruptors, emphasizing sustainability, inclusivity, digitalization, and experiential consumption. The study highlights how luxury brands must innovate through strategies like digital influencers, augmented reality, ethical branding as well as meaningful and relatable communication to align with Gen Z’s values. Combining systematic analysis of academic and business sources with CDA of industry discourse, this research offers actionable recommendations for luxury brands to remain relevant in a rapidly evolving market.

Suggested Citation

  • Daria Batamirova & Alkis Thrassou, 2025. "The Impact of Generation Z on the Luxury Market: Rethinking the Status and Values of Luxury for the New Generation of Consumers," Palgrave Studies in Cross-disciplinary Business Research, In Association with EuroMed Academy of Business, in: Alkis Thrassou & Demetris Vrontis & Leonidas Efthymiou & Yaakov Weber & S. M. Riad Shams & Evangelos (ed.), The Evolution of Luxury Brands, Volume II, chapter 0, pages 33-64, Palgrave Macmillan.
    • Handle: RePEc:pal:pscchp:978-3-031-96680-4_2
    DOI: 10.1007/978-3-031-96680-4_2
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