New York - Apple bested Rolex, Coach and BMW as the top luxury brand in a recent poll of wealthy young consumers.

Forty-five percent cited Apple without prompting, followed by the luxury wristwatch, handbag and automotive brands, which were top-of-mind for 30 percent of respondents each.

The survey, conducted by the Luxury Institute, targeted high net-worth respondents aged 35 years and younger. The market research firm found that this segment, dubbed "wealthy millennials," defines luxury more by experiential factors than by brand heritage or prestige.

"The good news for luxury firms is that these tech-savvy shoppers want to interact with them, not only in stores but also online and on mobile devices," said CEO Milton Pedraza. "This builds richer experiences and deeper relationships."
Release Date: 
2011-06-08 17:48:09
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Abstract Web: 
New York - Apple bested Rolex, Coach and BMW as the top luxury brand in a recent poll of wealthy young consumers.
Article Type: 
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