For decades, the luxury industry revolved around a familiar acronym: HNWIs—High-Net-Worth Individuals. They shaped the very definition of luxury: exclusivity, scarcity, heritage, and craftsmanship reserved for an elite few.
But in 2025, that circle is widening, and the rules are changing. Today’s luxury consumers may not all have generational wealth, but they possess something even more powerful: influence, access, and values.
Generation X, in particular, is redefining what luxury means, forcing brands to rethink long-standing strategies. They’re not chasing logos; they’re seeking meaning. They want to understand how a brand makes its products, why it exists, and what it stands for. Sustainability, inclusivity, and social impact aren’t “nice to have”; they’re expectations.
New research from Publicis Luxe and OpinionWay, spanning the United States, UAE, France and China, warns that luxury brands may miss a multi-billion-dollar opportunity as 45–60-year-olds enter their peak spending years. These consumers prioritize autonomy, fulfillment, and experiences over traditional status symbols. The study reveals that more than half of Gen Xers in the US, UAE and France buy luxury items for personal pleasure, not social recognition, challenging decades of marketing built around exclusivity and conspicuous consumption.
This shift comes at a critical time. As mortgages are paid off and children become financially independent, Gen X is gaining control of a significant share of household wealth. Yet, while traditional luxury marketing has long emphasized visibility, Gen X consumers around the world demonstrate markedly different preferences to previous generations– prioritizing a sense of “satisfaction and accomplishment” and discretion.
Unlike Baby Boomers, Gen X sees luxury as deeply personal and experiential. Over 70 percent of respondents in France and the US associate luxury with freedoms such as travel and quality time, while fewer than 10 percent view luxury goods as an investment. Across regions, most consumers define luxury simply as “being able to do what you want.”
Brand loyalty is also weakening because only 1 in 10 respondents said they purchase luxury out of brand allegiance. Function now outweighs aesthetics in every country surveyed, except France.
Regional nuances remain distinct. US consumers value long-term functionality, while nine in 10 respondents in China and the UAE are willing to pay more for environmentally responsible luxury.
In the Emirates, 85 percent see luxury as a path to upward mobility, while nearly half of French consumers prefer discreet, understated purchases. In China, over a third consider innovation “essential,” compared to far fewer in France or the United States.
To understand the broader picture, another major study—The New Lines of Luxury by Frog (Capgemini Invent —shows this shift is not limited to Gen X. Surveying 6,472 affluent consumers worldwide, the report reveals that luxury now extends far beyond products. It encompasses financial services, travel, wellness, and lifestyle experiences. Today’s affluent consumer expects personalization, cultural relevance, emotional meaning, and enduring value.
As luxury continues to evolve into lifestyle and emotional value, consumer preferences are shifting accordingly. The Frog report highlights that affluent individuals today prioritize experiences over ownership, with a growing desire for everyday enchantment — moments that are meaningful, memorable, and personal.
Among all luxury categories surveyed, Travel & Hospitality stands out as the top choice for high-net-worth individuals across genders, regions, and generations. This strong preference does not always reflect global travel but illustrates a broader appreciation for immersive, well-curated experiences — even those close to home.
Now, as Gen X enters its peak spending decade, brands that recognize this shift stand to capture a demographic with both the means and the motivation to invest in premium experiences, and which has nothing to prove.
Those that fail to adapt risk losing a generation of high-value customers who view aging as a period of possibility, freedom, and self-expression, in other words, the ultimate luxury experience.
