What is luxury and what would Germans use a jackpot win for?

Luxury: "costly, extravagant, exceeding the normal scope of living, not necessary, pursued only for pleasure; splendor, lavish opulence". Is this definition from the dictionary still valid today? Looking at the data from a recent EuroJackpot study, it can be questioned, at least from a social perspective. For Germans, personal freedom and extraordinary experiences are now much stronger status symbols than bling-bling and ostentatious consumption.

Let's imagine for a moment that we're holding the golden ticket in our hands: the numbers add up, the account fills up with a dizzying sum - and now? Sports cars, villas with golden taps, champagne showers? Certainly the plan for some people, but not for the majority of Germans: Not a chance! At least that's what the results of a new EuroJackpot study suggest. This time, the question was asked what Germans understand by luxury. It was also asked what they would afford if they had a lot of money. This confirmed a trend that was already apparent in the last two lottery surveys: Opulence and lavishness are not at all the order of the day.

It is therefore not surprising that the latest survey also points in this direction: luxury is no longer about what shines, but about what lasts. A carefree life, family and special experiences are very popular. Once again, most people would spend money on a special vacation. The term "dematerialization of luxury" is doing the rounds - but what does that mean? Let's take a closer look at the results.

Peace of mind and once-in-a-lifetime experiences instead of ostentation and splendor

The new EuroJackpot study was conducted by Trendbüro and Bonsai Research. As part of this, 1,500 respondents over the age of 18 revealed their wishes - and they show a clear direction: the definition of luxury is increasingly shifting from the classic idea of ownership to special experiences. For Germans, financial freedom, time for themselves and with family and friends are far more important than ostentatious self-expression.

Incidentally, we recently asked ourselves whether it is possible to hit the lottery jackpot with certainty.

Money that doesn't have to shine - but changes lives

In the past, having a big car on your doorstep or a penthouse in the city was considered the height of luxury, but today things are very different: In the EuroJackpot study, 73 percent of respondents said they dream of a carefree life, 69 percent simply want to spend money without having to constantly squint at price tags - and 53 percent define luxury in terms of unforgettable experiences.

The fact that 45% even consider it a status symbol to be able to be generous to family and friends shows a surprising development: money is no longer primarily used to purchase objects, but for shared moments.

In October 2024, we reported on a very personal statement by a new lottery millionaire from Lower Franconia.

"Once in a Lifetime" instead of "Look what I've got"

The question of what Germans would do with a big jackpot win is particularly exciting The answer: they would invest - not in castles or private jets, but in memories and time. 62 percent said they would treat themselves to an extraordinary vacation, 48 percent would work less and 45 percent would prioritize more time off.

"The spectacular events and concerts by top stars last summer quickly come to mind," explains Bodo Kemper, EuroJackpot spokesperson, in the relevant press release. "People really celebrate these events and invest their savings for a few hours to enjoy once-in-a-lifetime experiences."

But what exactly does that mean? There are many facets to unforgettable experiences

• The trip of a lifetime - such as an aurora tour in Norway, a road trip through the USA or a stay on a private island in the Caribbean.
• Spectacular events - exclusive VIP tickets for the Oscars, a night in first class on the way to Tokyo or a dinner in an underwater restaurant.
• Pure adrenaline - a space flight with Blue Origin, a dive to the wreck of the Titanic or an ascent of Mount Everest.
• Emotional highlights - a meet-and-greet with your favorite artist, a role as an extra in a blockbuster or cheering on your favorite team at the Champions League final, right on the sidelines.
  
  

From the splendor of things to the radiance of moments: Why luxury is often seen differently today

What is behind the "dematerialization of luxury"? Why are more and more people longing for immaterial values instead of material GUTS?

There are actually a lot of theories about this, some of them quite complex, which we can of course hardly cover comprehensively here. However, as this development is quite interesting and relevant to society, we would like to take a closer look at it.

The longing for real closeness in an individualized world

The EuroJackpot press release quotes trend researcher Peter Wippermann: "Our increasingly individualized society is fostering a longing for genuine closeness. The feeling of belonging and the quality of our interpersonal relationships have become true luxury goods."

At a time when digital interactions are often replacing face-to-face conversations, authentic interpersonal relationships are gaining in value. The feeling of truly belonging and cultivating deep connections is becoming the new status symbol.

Digital worlds and the new definition of prestige

On the other hand, advancing digitalization has led to classic luxury goods becoming less important. In a world where likes and followers often count for more than the latest designer piece, the focus is shifting.

Prestige and affiliation are no longer primarily defined by personal material assets that come to the fore in real-life encounters, but by digital narratives and one's own online presence. This development is leading to a decoupling of status and physical possessions. Instead, what counts are individually filtered experiences and personal stories that are shared (often online).

"New luxury": more being than having

The term "new luxury" aptly describes this change. It is no longer about what you own, but about who you are and what experiences you share. People are looking for time, security, relationships and a qualitatively fulfilling life.

The focus is on inner values and quiet enjoyment, which are not defined by the price of a product. According to this development, luxury has little to do with material things. Once again, the importance of immaterial experiences is emphasized.

Post-pandemic hedonism: rediscovering the pleasure of life

And then there are the experiences of recent years: global crises and the pandemic have changed the value system of many people. A "post-pandemic hedonism" has emerged, as the EuroJackpot press release puts it, in which the enjoyment of the moment and the pursuit of meaningful experiences have come to the fore.

People today prioritize personal well-being, interpersonal relationships, freedom and a fulfilling life. They realize that material abundance can only provide them with such values to a very limited extent.

Also interesting when it comes to the lottery: the German Lotto and Totoblock recently reported impressive record figures in its annual review for 2024.

Source of the image: Screenshot from https://www.westlotto.de/magazin/spiel/eurojackpot-2024-studie-luxusverstaendnis.html

Central text sources: https://www.westlotto.de/magazin/spiel/eurojackpot-2024-studie-luxusverstaendnis.html, https://www.zukunftsinstitut.de/zukunftsthemen/der-niedergang-des-luxus, https://www.handelsblatt.com/meinung/kolumnen/konsum-der-luxus-von-heute-ist-ein-alptraum-fuer-die-luxus-industrie-02/100101883.html, https://www.bsi.ag/cases/52-case-studie-marke-montblanc-prestige-ohne-publikum-die-neue-intimitaet-von-luxus---wie-status-sich-in-resonanz-verwandelt.html