It is al about authenticity and ‘experiences’

futurelab default header

by: Dick Stroud 

International Luxury Travel Market (ILTM) has done some research showing that more than 70% of the 400 luxury travel suppliers surveyed thought clients were looking for more authenticity when selecting a holiday. A further 59% stated holidays needed to be more experience-led and enriching than ever before.

As the affluent traveller increasingly looks for something ‘real’ in their travel plans, they move further away from the security of familiar brands. Less than half of respondents agreed their clients found reassurance in luxury brands, compared to 65% last year.

The survey also discovered that 50% of “uber affluent” travellers do so with their families in tow. “Older, and therefore more financially secure parents, increased personal wealth, smaller, carefully planned families, as well as sizeable monetary gifts from baby boomer grandparents all combine to create a new ‘family luxury’ trend,” said the survey.

Where the luxury end of the market goes I suspect the next echelons of wealth and quality will follow. This is a mega-general point but older people tend to value amassing experiences rather than possessions. If that statement is right then the marketing implications are profound.

Original Post: