Ce diaporama a bien été signalé.
Nous utilisons votre profil LinkedIn et vos données d’activité pour vous proposer des publicités personnalisées et pertinentes. Vous pouvez changer vos préférences de publicités à tout moment.

ILTM Report Modern_Luxury

284 vues

Publié le

How the new standards of modern luxury are steering the direction of high-end hospitality and travel.

Publié dans : Voyages
  • Soyez le premier à commenter

  • Soyez le premier à aimer ceci

ILTM Report Modern_Luxury

  1. 1. Modern Luxury and the Future of Travel and Hospitality SKIFT REPORT 2016 1 How the new standards of modern luxury are steering the direction of high-end hospitality and travel LEAN LUXURY AND THE FUTURE OF HOSPITALITY If you have any questions about the report please contact trends@skift.com. by M. Paul Munford + Skift Team skift.com In partnership with ILTM
  2. 2. Modern Luxury and the Future of Travel and Hospitality SKIFT REPORT 2016 2 Introduction Introducing the principles of modern luxury The Landscape: What This All Means Digging deeper A Heavy Emphasis on Experiences How modern luxury experiential ideals are being adapted across travel and hospitality • Hotels • Retail and Food & Beverage • Digital Concierge and Experiential Tourism Upstarts • Travel-Focused Luxury Goods Startups TABLE OF CONTENTS ABOUT SKIFT Skift is a travel intelligence company that offers news, data, and services to professionals in travel and professional travelers, to help them make smart decisions about travel. Skift is the business of travel. Visit skift.com for more. 3 5 10 10 14 16 17
  3. 3. Modern Luxury and the Future of Travel and Hospitality SKIFT REPORT 2016 3 INTRODUCTION INTRODUCING THE PRINCIPLES OF MODERN LUXURY You may have noticed, over the last few years, a change in the wind — if not in your own luxury preferences and purchases, then surely with the tenor of a new generation of brands and services that all seem to embody a refreshingly modern take on what qualifies as luxurious. You may have found yourself quietly questioning whether a mass-produced “luxury” carry-on, for instance, plastered with a monogram motif can qualify as luxurious, simply because of its high price. That’s especially true when you can find a competing product of equal or better quality — and at a better price — from an up-and-coming specialist. So does pricing alone determine luxury? Do logos and celebrity ad campaigns determine luxury? Or is it something more internal and more discreet that determines whether an item is luxurious or not? What do we make of aspects like the hands- on manner in which a product was produced, its provenance, and the quality of the materials? Or the quiet branding that lets the purity of the product shine rather than the company’s name, or the usefulness of the item? Does that item have a reason for existing? Just a few years ago, in 2012, Michael Phillips Moskowitz launched Bureau of Trade, a curated vintage goods resale site for men, before selling it to eBay shortly thereafter. Bureau of Trade was about expertise and delighting its users. Moskowitz decided to hand-pick an eclectic mix of rare and vintage items from across the web and pair them with stories. In so doing, he ensured these items were viewed with context, as one-of-a- kind items, and crucially, they were no longer tied to (or defined by) price alone. It was also, crucially, an extremely devoted offering of an outstanding experience, even though everything was handled online. When asked about how the luxury market has changed today, Moskowitz offered the perfect summation for the current environment: “Luxury is no longer connoted by price or scarcity. Most of the things in the world now can be obtained, but what makes one thing truly special is who made it, how it was made, when it was made, why it was made, and collectively, why it should be yours.”
  4. 4. Modern Luxury and the Future of Travel and Hospitality SKIFT REPORT 2016 4 You’d be hard pressed to find a more appropriate explanation than that. But for the scarcity part, he is absolutely correct. Exclusivity — and delight — are still just as important for the modern luxury experience today as they’ve ever been. But rather than scarcity being tied up in the cost of an item or prestige being defined by the logo on the side of someone’s bag, scarcity and prestige are linked to unique and outstanding brand experiences. The recent release of Snap’s Spectacles is a perfect example. As Loose Thread’s Richie Siegel argues, the product rollout is intended to delight and to build excitement. But it also offers up a new way of thinking about exclusivity: exclusivity by geography, rather than financial exclusivity. The relatively low price of Spectacles also contributes to its seeming longevity. Putting a hefty price tag on an item is one way to drive scarcity, but it’s not entirely natural. If anyone with a lot of money can buy it, it’s only financially exclusive. But Spectacles are geographically exclusive, which unlocks a much more resilient vector for discovery. This, in addition to keeping the price affordable, predicates discovery on presence, not prosperity. The paradox of the Internet is that, although there is so much to discover — arguably an infinite amount — it’s also much easier to hop on the bandwagon and let others do the discovering, thus fueling the hype. The Spectacles release should affirm the powers of the physical world and the benefits of building native experiences in it. Meticulously controlling the discovery process and ensuring that money isn’t the only way to circumvent it goes a long way toward keeping discovery at the core of the experience. There’s a lot fashion brands can learn from the Spectacles rollout. Empowering discovery, not hype, is always the answer for long-term success. Social media-friendly, share-worthy, global: The Spectacles, while not quite a modern luxury item, have certainly adopted modern luxury behaviors. In doing so, they’ve stoked excitement for a product whose prestige is separated solely from price, and whose purchasing experience is exciting (and speaks volumes about the Snap brand going forward). These are talking points the hospitality industry might be wise to pay attention to.