A new dimension of luxury: Are TikTok and Gen Z responsible for the boom in the European market?
Despite the global slowdown in the luxury goods sector, Europe is showing growth. In 2024, the value of the market in the region increased by 3% and reached almost €110 billion. What is behind this paradox?
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00:00Millennials in Gen Z no longer want perfect campaigns or smooth messages.
00:05They expect authenticity, relationships and values.
00:08And platforms like TikTok are becoming the voice of the new consumer.
00:12The new generation of consumers is moving away from an idealized world. They are not looking for perfect images and prefer authenticity.
00:35A great example of this communication is Mark Burberry, who communicates in the classic communication channels in a very prestigious way.
00:44However, on TikTok, she used among other actors from The Crown series and created a communication that was based on the angielspotryment of honey.
00:58Such brands are able to dispense with excessive perfectionism and rely on dialogue to win true audience engagement.
01:05The Polish market is no exception. Brands such as Hylak and Inglot are effectively using the potential of TikTok.
01:1260% of users of TikTok have declared that they have received a purchase of services or products, in regard to the trend or content they saw on TikTok.
01:25This form of communication translates into real purchasing decisions.
01:29About 50 million consumers in 2024, so it is a clear sign for brands and businesses that they have to change the way of communication with the consumer,
01:41which puts it on quality, which puts it on social responsibility and wants that the brand, which they buy, also represents its value.
01:49Luxury is not losing its meaning. It is rather changing its form. Today it is not just about the product, but also the values that the brand represents.
