Highsnobiety & BCG Research Report 2023

Research report by Highsnobiety and BCG presenting a March 2023 pulse check of luxury consumers. It argues 'The New Luxury', where cultural participation, community, and experiences trump pure possession, is reshaping demand, supported by two surveys (total n≈9,262 across US/UK/FR/DE) and a 566-person Cultural Pioneers panel. Gen Z/Millennials are set to drive roughly 75% of personal luxury by 2026 and the true-luxury market is estimated at €550–560 billion, with China as the leading growth driver.