Chris Sanderson, co-founder of The Future Laboratory, said: “This report highlights how – even in times of volatility and economic uncertainty – an enthusiastically resilient HNW investor is emerging – looking for alternative asset opportunities. Turns out the trend in terms of exploration, in its favor deploying emerging business sectors and the rise of new digital platforms to their best advantage.”
The report highlights three major alternative assets. Vin-Vestments, a technology platform-driven investment in Champion Vine by Cult Wine Investments, has seen a 23% increase in US investors, with New York clients investing an average of US$221,000.
“The pandemic has really accelerated the digital transformation of wine as a product and now as a safe bet asset,” said Tom Gearing, co-founder and CEO of Cult Wine Investments. “We are seeing emerging investors come to us through their love of a region or grape, but also with the hope of experiencing it as they have with other asset classes.”
Young wealthy people are also growing in the “hype economy”, a movement that is set to transform the sneaker and streetwear resale space into a US$30 billion market globally. According to the report, 37% of 18- to 34-year-olds who bought limited-edition sneakers admitted that they were inspired by the investment opportunity.
Finally, the market for non-material commerce is defined by volatile digital assets such as metaverse real estate, NFT collectibles and cryptocurrencies that are nonetheless very attractive to wealthy individuals.