Global consumers are becoming more affluent, stimulating an increasing trend of disposable income invested into experiences and surroundings versus material goods. The shift in consumer desires from material goods to a craving for real life experiences has increased demand in luxury travel.
Hotel and resort management have to take into account the quality of the experience when offering luxury customers relevant, personal and exclusive experiences. Taking advantage of guests’ key desires and fulfilling them will win them over.
As luxury consumer desires shift, time becomes more valuable and as experience overtakes possession, luxury services that offer personal enrichment hold more appeal. Curating something that appeals to them on a specific, personal level that goes above the norm is the key to building a following.
The future of luxury travel is the shift in values from the material to the experiential – rather than saving up to buy luxurious possessions, people are choosing to spend their money on experiences.
An important part of the luxury travel experience is how well travellers feel that their needs and preferences are understood. This includes striking the right balance between respecting their desire for independence and lack of intrusive service. Enhancing their trip by checking in to offer additional elements or assistance will be appreciated.
Instead of offering a fixed product, hotel and resort management should offer something truly bespoke, relevant, niche and be able to adapt this offering when necessary.
The gift of time
Attitudes towards holidays and getaways are changing as the impact of always-on, fast-paced work lives clashes with other lifestyle concerns. As luxury consumers take a more considered approach to how they spend their time, shorter breaks that deliver super-charged replenishment are replacing the previous appeal of distant destinations and traditional holidays.
Consideration of time is becoming crucial in the beauty and spa industries, with luxury micro therapies offering burnt-out individuals a quick fix. As consumers find it harder to switch off, services and treatments that force users to engage or that fit around busy agendas are becoming popular.
Convenience and discovery
In a bid to make every minute count, there is a growing expectation for on-demand services to match consumers’ busy lifestyles. Convenience-centric retail services and speedy concierge and hospitality services are becoming a key for hotel and resort management teams to consider.
Today’s luxury consumer is seeking absolute well-being activities that deliver holistic inner and outer results. This desire is motivating them to infuse travel with self-growth and wellbeing opportunities, seeking emotional connection and meaningful memories.
Services and experiences that focus on mindfulness, personal journeys and heightened senses will be a main priority for guests of the future. Consider ways to support these individuals more holistically as a way to build guest loyalty.