A new study from Volvo and Harris Poll has revealed major shifts in Americans’ perceptions of the luxury market and changing attitude towards possessions. While having a lot of “stuff” was once seen as a signal of wealth and status, Americans are now overwhelmingly looking to declutter and simplify their lives – particularly in their vehicles. Please detail the full report here.
The study, Volvo Reports: Decluttering the State of Luxury, explored a compelling shift in Americans’ perceptions of luxury. While extravagance, brand name and price are thought of as key drivers, more than two-thirds (68%) of those polled now believe that “less is more” when it comes to modern luxury, and a whopping 85% are actively looking to reduce the clutter of their lives. Some additional relevant findings are included below.
- 68% of Americans believe when it comes to modern luxury, less is more.
- 88% feel modern luxury should be both beautiful and highly functional
- The space Americans most want to upgrade to luxury status is their car (27%)
- Surpassing kitchens (25%), bedrooms (19%), wardrobes (13%)
- The vehicle features most associated with modern luxury include interior design (62%), in-vehicle technology (56%), exceeding traditional elements like brand name (56%) and price (54%)
- 61% agree that Scandinavian design is a sign of modern luxury
- Compared to 10 years ago, modern luxury is… more inclusive and transparent (64%), minimalistic (63%)
- Top 3 traits of a modern luxury or service; quality (70%), authenticity (39%), personalization (35%)
- 82% of Americans believe people have too much stuff; 84% of vehicle owners feel this way.
- 91% of Americans feel better when their homes and vehicles are decluttered and simplified
- 62% of parents wish to declutter their cars more than other spaces; compared to 37% of non-parents
Volvo’s design philosophy aligns strongly with these changing perceptions of the luxury space – borne from its Scandinavian design roots to create a comfortable driving experience free from excess and crafted to suit the needs of drivers and passengers. Whether interior design, technology or storage, Volvo seeks to find the ideal balance between functionality and luxury in every vehicle.