New York, New York – BMW and Ferrari topped the list of preferred brands for “Gen Y” men in a new international study that looked at the next generation of prestige consumers.
The study, done by New York-based L2, surveyed 450 Gen Y high-earning men and women from 45 countries and measured brands in six industry categories.
“Gen Y goodwill is arguably the closest thing to a crystal ball for predicting a brand’s long-term prospects,” said Scott Galloway, an associate professor of marketing who founded the study. “Just as Boomers drove the luxury sector for the last 20 years, brands that resonate with Gen Y, whose purchasing power will surpass that of Boomers by 2017, will be the new icons of prestige.”
Cars dominated among men surveyed, taking eight of the top ten slots, while German cars also appealed to women.
Among men, the top ten brands across all categories, in order, were BMW, Ferrari, Porsche, Lamborghini, Audi, Aston Martin, Four Seasons, Mercedes-Benz, Ralph Lauren, and Ritz-Carlton.
Among women, the top ten were Chanel, Ritz-Carlton, Four Seasons, Marc Jacobs, Cartier, BMW, Mercedes-Benz, W Hotels, Prada, and Audi.