U.S. Survey: Tiffany Among Well-Off Millennials’ Favorite Luxury Brands

December

2017

A survey of well-to-do Millennials in the United States found that Tiffany & Co was its favorite brand in the jewelry sector, according to a consumer research study conducted by MVI Marketing LLC (MVI).

In the jewelry, watches and shoes sectors, Tiffany, Rolex and Jimmy Choo showed the strongest leadership positions, respectively.

“In this study we asked wealthy, younger, male and female consumers in the USA, to pick their luxury brand favorites in key product categories,” said Liz Chatelain, President of MVI.

The product categories researched overall in the survey were jewelry, fashion (clothing), shoes, handbags, watches, hotels, automobiles and eyewear.

“While some categories had clear outlier favorites, the majority including fashion (apparel), handbags, automobiles, hotels and eyewear are all white spaces looking for brand leadership,” continued Chatelain. “It’s a significant opportunity for brands to penetrate this growing wealthy, consumer segment that will drive purchasing power for the next 30 years.”

The research study and report entitled: Luxury Brand Favorites of Millennials is among the first designed to capture a benchmark understanding of the brands achieving penetration with this emerging consumer segment, MVI said in a statement.

MVI conducted the research online from November 20-22, with 978 male and female respondents aged 25-40, and with household income of $80,000 and higher.

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