10 Trends and Symbols of Wealth for Millennials, from Cars, to Coffee Machines, to Ways to Vacation. Every generation has its symbols and trends to show wealth and luxury. Likewise, the millennial generation has many differences compared to previous generations.

The wealthy millennial generation is approaching their 40s and starting to take life seriously. Some start families or buy houses, and this gives them the impression of luxury.

In the past, millennials have been known to splurge on personalized experiences, brands that match their values, and luxury clothing like shoes and shirts.

Now that they are grown up, millennials are spending more on their homes, children and pets.

Here are 10 new trends and status symbols for the affluent millennial generation.

1. Like to pamper their pets

Launching Insider, millennials pamper their pets with food and luxury goods.

Instead of buying regular pet food from Pedigree or Purina, this generation prefers premium brands like. Rachael Ray Nutrish or Simpsons Premium, which offer organic and gluten-free food.

Some pets get high-end grooming, with owners shelling out as much as $12,000 for a miniature “playhouse” and splurging on luxury clothing and accessories, including a $600. Moncler puffer jacket, $80 Ugg boots, a $152 designer bag holder, and a $1,100 bowl. Hermés wooden dog.

Some pet owners have started making “barkuterie” boards — charcuterie board-inspired snacks — for their dogs, with an assortment of biscuits and other treats.

Kristen Boesel, a former lifestyle and leisure analyst at market research firm Mintel, told. Insider that millennials are spending a lot of money on pet products because they have children later.

2. Opting for electric vehicles over luxury cars

Wealthy millennials — especially men — have embraced electric vehicles more than any other generation. That’s disclosed in data from consumer analytics firm J.D. power.

The hefty price tag makes these cars the ultimate status symbol. According to a recent analysis from Consumer Reports, most of the new electric cars are luxury models that cost more than USD 61,000, which is USD 12,000 more than the industry average.

Tesla’s cheapest EV, the Model 3, has a starting price of USD 40,240. The most expensive electric cars, Model S and Model X, can cost up to USD 108,500.

But there’s another reason why this purchase is such a big financial commitment. While public charging stations can be used, it is more convenient to charge these vehicles at home overnight. Some models may require special charging which may be expensive to install and most likely not an option for renters, which makes the product even more exclusive.

3. Make the laundry room more Instagramable

Some millennials buy homes and design every room with painstaking detail. Even the utility and laundry rooms become focal points for high-end designs.

The hashtags #laundry room and #utility laundry room have 1.5 billion and 1.6 billion views on TikTok, respectively, while “luxe laundry” was one of the most searched terms on Pinterest in 2022.

“This is almost the most attractive room in the house for some people.” Emma Sims-Hilditch, an interior designer and co-founder of Neptune Furniture, told The Telegraph. “Function is great, but aesthetics are also important. It’s almost like a competition — who has the most beautiful function room?”

Many rooms look sophisticated, with marble countertops, polished appliances, painted cupboards, paneled or wallpapered walls, and expensive soaps on the sinks.

4. Splashing on expensive hand soap

Now that they own a home, they can assert perfect control over every inch of their living space down to the type of soap next to the sink.

Trendy Australian skincare brand Aesop has cornered this side of the market with its USD 40 vegan and hand soaps often seen in hotels and restaurants. Wealthy millennials bring Aesop home to show they’re willing to splash out on the tiniest details.

L’Oreal announced plans to buy the brand for USD 2.5 billion in April. At the time, Nicolas Hieronimus, CEO of L’Oreal, described its products as “an extraordinary combination of urbanity, hedonism, and undeniable luxury,” All the things that appeal to affluent millennials.

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5. Spending thousands of dollars on kitchen equipment

High-end glass front refrigerators that have graced the homes of celebs, including Kim Kardashian and Kris Jenner. These refrigerators usually feature neatly arranged rows of fruit, vegetables and drinks. “It’s mostly aesthetic, especially at the luxury price point,” says McClaran.

“Most of our customers don’t want to follow the Joneses. They’re looking for something no one has seen before.” This stove, called La Grande Cuisine 2000, was designed by L’Atelier Paris Haute Design.

Other excesses include installing not one, but two dishwashers, both for convenience and to show wealth.

6. Have an expensive coffee machine in their kitchen

The Starbucks generation used coffee machines to satisfy their coffee addiction at home.

The Time author Harriet Walker says the machine is now considered an investment among British millennials as the cost of a cup of coffee has soared.

Some of the most basic coffee machines cost around $400, according to a recent Insider review, while you can expect to pay as much as $6,000 for a fancier version.

“Like watches and handbags, coffee machines are now an investment item, so it’s best to choose one that looks good.” Walker wrote.

7. Revive the travel agency.

Bill Gates once predicted that the launch of online travel site Expedia would spell the end for travel agency travel, but the wealthy, luxury-loving millennial has proven him wrong.

A Flywire survey from 2022 found that 96% of responding Gen Z and millennials between the ages of 18 to 44 who consider themselves luxury travelers are more likely to use a travel agent.

The survey says that 90% of respondents in this demographic say travel agents and consultants are “the only way to have a truly luxurious experience.”

And this service is not cheap. According to Barron’s, Fischer Travel charges a $150,000 membership fee and a $25,000 annual fee for travel and lifestyle services.

8. Doing Botox

Older millennials are approaching their 40s and have seen celebrities and influencers approaching their age like Kim Kardashian get Botox and other cosmetic procedures to combat aging.

The American Society of Plastic Surgeons found that nearly 30% of plastic surgeons saw business double post-pandemic – mostly from women ages 31 to 45 seeking procedures such as Botox, fillers, non-invasive fat reduction, and nonsurgical skin tightening.

Ryan Neinstein, a plastic surgeon, told The Society that millennials’ desire to perform such procedures is rooted in health culture. “They eat well. They exercise. And plastic surgery is part of the health cycle.”

9. Build a spa at home

The hashtag #spa bathroom on Instagram and TikTok showcases perfectly curated images and videos of the neutral-toned rooms matched with plush armchairs, rugs and plants complete with oversized circular bathtubs.

Interior designer Ariel Okin told Refinery 29 that “creating a zen, zen-like vibe has become the cornerstone of the bathroom.”

“There’s something so personal and special about that time in the morning before work or the evening before a date or event when you’re getting ready for what lies ahead, and the bathroom is basically the vehicle for those moments,” she says.

10. Spending money on high-tech beds to help their babies sleep

Older millennials are starting to have kids and want only the best products for them, including a $1,700 smart crib that can automatically rock in response to a baby’s cries.

The Snoo is a high-tech crib created by husband and wife co-founders of Happiest Baby, Nina Montée Karp and Harvey Karp. Celebrities including Jessica Biel, Scarlett Johansson, Gigi Hadid and Beyoncé have endorsed the product.

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now, major companies from JPMorgan to Snap are also offering the product to employees as part of their parental benefit plans in 2023.