Generations Y, Z, and Alpha will become the biggest buyers of luxury goods by 2030, a new study shows

• Gen Y and Z accounted for all of the luxury market's growth in 2022, per a Bain & Company report.
• Younger generations are set to become the largest buyers of luxury goods by 2030, the report says.
• Gen Z's and Gen Alpha's spending is set to grow three times faster than other generations through 2030.

Generation Y, Z, and Alpha consumers are not afraid to splurge when it comes to luxury — and their luxury bills are only expected to get bigger.