On Friday 29thMarch, we held our inaugural Modern Affluence Summit at Bloomberg HQ with our event partners KEKO, Vice & Bloomberg Media.
The morning summit was set out to provide a unique set of insights into the modern affluent consumer and how this audience is spending their disposable income. As global wealth continues to grow year on year, and over 67% of that wealth is ’self-made’ or ‘entrepreneurial’ wealth, this new consumer expects brands to invest in their shared future – from concerns for global footprints, to a focus on personal growth, self-love and mindfulness.
The key theme that ran throughout the summit, was the need for BRAVE behaviour and how product integrity, brand behaviour and business practices is vital to the modern affluence audience.
Modern Affluence Summit Agenda
One of the highlights of the summit was listening to entrepreneur Dominic McVey talk passionately about the ethics of business and the integrity of supply chain. He shared some very interesting facts;
- More than half of Gen Z and millennial consumers said they were likely to boycott brands that don’t reflect their values and beliefs.
- 70% of young consumers surveyed by Accenture believe that refusing to buy from brands or criticizing them on social media can make a difference in how companies act.
- Gen Z and millennial generations – particularly feel a strong affiliation to retailers that subscribe to a larger purpose, according to the study of more than 2,000 UK consumers.
- More than six in ten younger consumers closely consider a company’s ethical values and authenticity before buying their products, research found.
After the Modern Affluence Summit, we invited all of the speakers, supporters and guests to join us at KYM’s restaurant in the Bloomberg Arcade for a complimentary Adoreum Club Lunch. The lunch was a great opportunity for all of our guests to network and discuss the content from the morning summit.
We would like to take the opportunity to thank all of our speakers, panel members and supporters for participating in our first MAS summit event and to Wheely for kindly providing complimentary journeys for all of our guests to and from the event.
To find out more about the event and more details on all the speakers please click here – https://www.modernaffluence.comand follow @modernaffluencesummit on Instagram.
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