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Decoding Luxury Desires of Gen-X – The Next Wealthy Heirs

Shilpa Dhamija

By Shilpa Dhamija05 décembre 2024

Gen-X is set to be the biggest beneficiary of the €28.6 trillion inheritance to be passed down over the next decade and will also surpass Baby Boomers as the top luxury spenders in 2025. Luxury Tribune decodes Gen-X’s luxury buying behaviour and how it may spend its inheritance

The main recipients of this wealth will primarily be the Generation-X, born between the mid-1960s and the early 1980s (Shutterstock)

€28.6 T

Inheritance to be received mainly by Gen-X over the next decade

45%

Share of transferable wealth held by UHNWIs

+44%

Gen-X's share of additional hotel spending compared to baby boomers

Over the next decade, more than a million wealthy individuals (with net worths exceeding €4.6 million or $5 million), are expected to transfer around €28.6 trillion to their heirs. The main recipients of this wealth will primarily be the Generation-X (born between the mid-1960s and the early 1980s). While Millennials and Gen-Z will also receive some of this wealth, their share will be much smaller than what Gen-X will inherit directly from its preceding generation, according to Altrata research.

Gen-x tends to be discreet about its luxury purchases as opposed to the younger generation that like to flaunt its big buys on social media

Maeen Shaban, Director of Research and Analytics at Altrata

In addition to inheriting generational wealth, Gen-X is currently at the height of its earning power, according to World Data Lab (WDL). While Baby Boomers and Gen-X spent nearly the same on luxury in 2024, Gen-X is expected to surpass Baby Boomers as the top luxury spenders in 2025.
Meanwhile, Millennials (born early 1980s to late 1990s) and Gen-Z (born late 1990s–2012) are projected to inherit family wealth only by 2045, according to Altagamma data. But when Gen-Z eventually inherits, it is expected to become the wealthiest generation in history.
While Gen-Z is projected to become the largest and wealthiest group of luxury consumers, "the reality is that it will take time for them to reach that level, whereas Gen X will accumulate wealth sooner," says Maeen Shaban, Director of Research and Analytics at Altrata. Although different generations may have varying preferences, what is constantly in demand is “trust and that is something brands should always focus on building," he suggests.

Exploring Gen-X luxury buying behaviour

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