The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
Learn moreEuromonitor addresses your unique questions and challenges across all B2B and B2C industries and geographies through custom, tailor-made research projects, designed to your specific goals.
Learn moreApr 2017
US$1,325Added to Cart
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
Luxury travel is democratising. Contemporary luxury hotels are less about price, and not just about fluffy towels, stuffy grand lounges and stiff waiters. There is a rise of more affordable luxury, with intangible experiences including time, space, authenticity, community, individuality and mindfulness increasingly understood as luxury. This report is the second of two on post-luxury, providing examples on how lodging companies are innovating to cater to changing consumer demands.
Files are delivered directly into your account within a few minutes of purchase.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
The travel market is no longer a dichotomy between mass and luxury. Through premiumisation of the mass market and anti-premiumisation of the traditional luxury market, we can now make a distinction between ultra luxury and contemporary affordable luxury.
Luxury travel is no longer simply about price or material goods. The growing importance of experiences over “stuff” means that the understanding of behavioural drivers is changing. The experience of time, space, authenticity, community, individuality and wellbeing is changing the perception of luxury.
Modern society places increased pressure on people’s time. All the while, space is becoming an increasingly valued commodity. Limited time and space are changing what people expect from their travels. Time-efficient booking and allowing time with family and oneself when away are increasingly important. Well-designed travel spaces can become a true luxury.
With the rise of the internet has come the rise of savvy consumers who better understand the difference between real and staged. While peer-to-peer brands can promote themselves as authentic, can hotels make the same claims?
On the one hand, being part of a community is important, but at the same time understanding one’s individuality is key to retaining customers. Using technology can enhance the feeling of community, while at the same time offering a personalised service.
Mindfulness, for oneself and towards others, is a modern luxury. Health is the new wealth. The feeling of social responsibility is growing, but there remain pitfalls in tapping into this market.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.