Are we heading towards a new luxury in travel?
Particularly among the younger generation of consumers who prioritize experiences and authenticity over material possessions
As traditional luxury products become more accessible (Millennials wanting to live in the here and now instead of saving for the future), there is a growing demand for ultra-luxury experiences that are exclusive and limited in access.
Key takeaways
- Brands are seeking to differentiate themselves through attention to detail, bespoke positioning, and creating unique experiences that cater to a specific niche;
- To provide access to sold out experiences, lifestyle companies are specializing by providing their services to make the impossible possible;
- They also aim to protect the craft of the concierge in a world where luxury hotels are looking save costs by reducing their concierge headcount.
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