In times past, owning luxury products from brands like Burberry and Versace was seen as a symbol of ultra-rich status. However, today, members of the upper class are showcasing their wealth in more creative ways, sometimes unrelated to public consumption.
According to an article published on December 3 by Fortune’s website, privacy, leisure activities, novelty items, and self-expression have become the new standards for measuring wealth. It’s no longer about the ability to buy certain items with money, but about having the means to escape a hectic lifestyle.
Eugene Healey, a brand strategy consultant and TikTok content creator with over 115,000 followers on the platform, delves into his theories in a video. One of his points is that privacy and disconnecting from the online world are becoming symbols of identity.
Healey explains in the video that as more people get caught in endless scrolling cycles, going offline becomes a way to flaunt capital. Knowing all the trendy restaurants and brands without relying on online searches demonstrates a genuine connection to wealth. They don’t need to hunt for the best cocktail bar; their income level naturally allows them entry into such places.
“Being offline for an extended period is the new way to flaunt,” Healey stated in a video released in January.
Another marker of the 1% super-rich is their ability to choose how to spend their leisure time. The leisurely lifestyles of the upper class starkly contrast with those of many middle-class individuals. Healey notes that the carefree lifestyle signifies that the wealthy do not face the economic pressures that others typically do.
Academics have also weighed in on this phenomenon. Silvia Bellezza, an associate professor at Columbia Business School, found that leisure activities can reflect one’s social status. In a 2023 study, she discovered a correlation between active or passive leisure activities and the display of wealth. How one chooses to spend their free time is closely tied to their social image.
Bellezza found that even during off-work hours, the wealthy often “devote energy to pursuing health, happiness, and personal development.” This could include playing pickleball at a country club, reading books on entrepreneurship and self-help, or baking fresh preservative-free bread.
Super-rich individuals are becoming less enthusiastic about luxury brands. A report released by Bain & Company in 2024 showed that between 2022 and 2024, 50 million luxury consumers exited the market. Brands like Dior, Estée Lauder, Louis Vuitton, and Burberry have suffered as consumers grow tired of expensive products they consider lacking in creativity.
“Since 2019, luxury prices have significantly increased, yet innovation, service, quality, or the allure luxury brands should have has not correspondingly improved,” luxury retail-focused stock analyst Marie Driscoll told Fortune in 2024. “This situation is particularly severe this year (2024).”
Bellezza predicts that new clothing items that emphasize buyer self-expression or sustainably embody values will become the new “must-haves.” Purchasing a Prada bag or Jimmy Choo pumps does not showcase a consumer’s personal taste anymore. With knockoffs readily available and clothing designs becoming less innovative, self-expression is likely to be the next trend.
Embracing this trend, Burberry has launched a personalized customization center focusing on imprinting customers’ initials on luxury items; and Louis Vuitton recently started introducing designs more colorful than their classic brown leather styles.
The article concludes by noting that in the past, symbols of status for the 1% wealthy were often associated with appearances. However, as beauty, skincare, cosmetic procedures, and fashion become common, and with counterfeit products readily available, new signs of success are increasingly manifested in behavior. As luxury brands fail to sustain the attention of the rich, more and more affluent individuals are turning to more abstract alternative ways to signify success.