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Luxury of Time: A Generational Perspective...
Luxury of Time: A Generational Perspective
Money is fungible; almost anyone can get more of it if they work longer, harder, smarter. Time, on the other hand, is fixed. No one, no matter how much money he or she has, can get one second more of it. That's why how one spends his or her money is far more important than how one spends his or her time. Time is the ultimate luxury because it is the only truly limited resource one has.
While time is the ultimate luxury for everyone, how people perceive time is relative. For a luxury marketer, the number one variable in how the target customer perceives time is age. Young people have a much different time perspective than those who are older.
In today's luxury market, an examination of the three adult generations -- Millennials, GenXers, and Baby Boomers -- provides marketers with insight into how to use time to reach the target audience.
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