We’re broke, we’re unemployed, we owe student loans, we’re living off our parents, we have degrees in things like English and Philosophy, we’re unprecedentedly narcissistic, and as if we couldn’t get any more charming, all the money we do have we spend on luxury goods: welcome to Generation Y, bitches! The millennial epoch, composed of those born between 1980 and 2000, is the fastest-growing demographic of those who purchase luxury goods. Consumers of this generation increased spending on premium fashion and services by 33 percent in 2011, and while boomers remain the foremost buyers of luxury items at 50 percent, millennials have altered their habits drastically in the past year alone. Keep reading »
