'Precocious' teens are set to become the biggest buyers of luxury goods by 2030 as the demographic of shoppers in the sector get younger and wealthier.
According to the latest Bain & Company–Altagamma Luxury Study, Gen Y — those born between 1982 and 1994, also known as millennials — and Gen Z — those born from the mid-90s to the mid-00s — accounted for the entire growth of the market in 2022.
