Aug 13 / Dr. Daniel Langer

Luxury Unfiltered: Opting for access over ownership, the next generation is redefining luxury

The latest episode of my Future of Luxury podcast, recorded inside a $45 million Brentwood estate, features a conversation with two expert guests turned toward the future.
I spoke with luxury real estate agent Shelton Wilder of Shelton Wilder Group and Julie Faupel, the CEO of Realm. We discussed not just the future of real estate, but the future of luxury itself.
It became clear that the next generation of affluent clients is playing by a different set of rules.
In response to new U.S. auto tariffs, Ferrari announced it will raise prices by up to 10% on certain models after April 1, while keeping prices unchanged for models imported before that date. Image: Getty Images
In response to new U.S. auto tariffs, Ferrari announced it will raise prices by up to 10% on certain models after April 1, while keeping prices unchanged for models imported before that date. Image: Getty Images

Ownership rights lose relevance 

For decades, luxury was about owning the right objects.
Think of a Mercedes-Benz in the driveway, a Rolex on the wrist, or a Birkin in the wardrobe. These were the signals that told the world you had arrived.
Today, those markers still exist, but their meaning is changing. Younger buyers, especially Gen Z, grew up with social media from early childhood.

Many have been living in public, documenting experiences and curating personal brands since they were old enough to hold a smartphone. That changes everything.

When life is lived “in a feed,” when people share everything they do in real-time, every experience becomes content. A kitchen is not just for cooking; it becomes a TikTok backdrop.

A pool is not just for swimming; it is a canvas for a perfectly framed shot that communicates the lifestyle one wants to be associated with.
Even the most private spaces are now designed with an awareness of how they will appear in photos and videos.

That shift is visible in some of the ultra-luxury properties Shelton represents. Staging is no longer just about making a home look attractive in person. It is about making every corner Instagrammable.

Drone shots, curated art and carefully chosen florals become essential storytelling tools. But the generational shift goes deeper than aesthetics.

The new luxury is not only about what you own. Instead, for many it is about where you can go and who you can be with.

Access has become a form of currency.

Accessing luxury

During our discussion, Mr. Wilder told a story about a private dinner she attended for ultra-high-net-worth entrepreneurs and creators. The guest list was invitation-only.

The experiences, like tasting rare caviar without using utensils, were designed to be unlike anything else. Everyone there had the means to buy the finest objects.

What they valued most was being part of something few others could enter. Ms. Faupel added that this mirrors what she sees across her global network of elite real estate professionals.

The most successful events are those that combine rarity with connection. Clients want to be introduced to people who share their values, inspire their ambitions and make them feel part of a community.

This is why access resonates so deeply with younger buyers. It offers a sense of belonging in a world where belonging is curated, shared and amplified.

It is not enough to have the best seat at the table. More importantly, you need to be at the table where something unique is happening.
For luxury brands, this presents both a challenge and an opportunity. The challenge is that you can no longer rely solely on heritage or product scarcity to attract the next generation.

The opportunity is that you can design experiences and communities that create a deeper bond than any product alone. The Brentwood estate we sat in could be seen as the ultimate symbol of ownership, with 21,000 square feet of space, two and a half acres of land and parking for 40 cars.

But even here, the true appeal for the right buyer is what it enables: hosting multi-generational gatherings, bringing together friends from around the world and creating spaces where family traditions can take root.

Younger buyers see ownership as a platform for experiences. A property is valuable not only for its square footage, but for the memories it can hold and the moments it can share.

The same principle applies across luxury categories. A watch, a yacht or a private jet are all valuable to this segment of clients because of the access they grant to people, places and experiences.

Call to action

The brands that will lead in the next decade will not simply sell ownership. They will need to offer entry into something bigger.
They will need to cultivate communities, orchestrate unforgettable moments and make their clients feel like insiders in a story worth telling. The change is already visible in my daily work: requests for insights and master classes in building client communities are never as much in demand as now.
My call to action for luxury managers: shift your focus from simply selling products to developing holistic client strategies that include curating access.

Ask what doors you can open for your clients that they cannot open themselves. Create experiences they will talk about long after they have forgotten the purchase.
In the eyes of the next generation, access is the new status symbol. Are you ready?
https://www.equiteintelligence.com

Luxury Unfiltered is a weekly column by Daniel Langer. He is the CEO of Équité, a global luxury strategy and creative brand activation firm, where he is the advisor to some of the most iconic luxury brands. He is recognized as a global top-five luxury key opinion leader. He serves as the executive professor of luxury strategy and pricing at Pepperdine University in Malibu and as a professor of luxury at New York University, New York. Dr. Langer has authored best-selling books on luxury management in English and Chinese and is a respected global keynote speaker.

Dr. Langer conducts masterclass management training on various luxury topics around the world. As a luxury expert featured on Bloomberg TV, Financial Times, The New York Times, Forbes, The Economist and others, Mr. Langer holds an MBA and a Ph.D. in luxury management and has received education from Harvard Business School. Follow him on LinkedIn and Instagram, and listen to his Future of Luxury Podcast.