This is a news story, published by MSN, that relates primarily to American Express news.
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younger generationFortune
•82% Informative
Millennials and Gen Z are shaking up what status symbols for their age group looks like.
Instead young consumers are coveting second -hand handbags and expensive food shops.
American Express cards have long been associated with wealth courtesy of annual fees and travel perks.
Gen Z and millennials accounted for 75% of new consumer platinum and consumer gold accounts in 2023 .
The "true status" the younger generation is hunting for is attention.
83% of Gen Z has shopped secondhand, with 34% saying they only buy from thrift shops.
85% of secondhand shoppers said they wanted to save money, 42% said it was more sustainable and 17% wanted to give back to communities.
Gen Z and millennials are also toting their status symbols around on their shoulders.
"This should open opportunities for innovation with new products and services. It will also enable companies to engage with their customers in a more meaningful way." This story was originally featured on Fortune.com .
VR Score
82
Informative language
80
Neutral language
44
Article tone
informal
Language
English
Language complexity
50
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
10
Affiliate links
no affiliate links