You’d be surprised, or not if you found out that Gen Zs would rather spend their money on experiences rather than material things. The luxury market shifting was not on anyone’s bingo card but neither was the Covid-19 pandemic which caused the total global luxury market to shrink by 20–22% to and losing approximately $1.15 trillion, returning to levels seen in 2015. And while the market is still recovering, the young generation have their priorities set and would rather spend on real estate, luxury cars, private jets and collectibles.