COMMENT
WHAT IS LUXURY?
a stay at The Ritz, a Savile Row suit or a Hermès bag, dinner at Alain Ducasse, a Bentley and a driver. Luxury was defined by possessions and a handful of iconic brands that were out of the reach of ‘ordinary’ people. Today, luxury is within reach of everyone with a computer and a credit card. Additionally, people often reach up for a taste of the better life. As a result, ideas of what luxury is are
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evolving at a head-spinning speed. Yes, it’s still about unique and expensive products. But for the travel sector, it’s all about experience. But no ordinary experience will do. High-end travellers want exclusive, authentic and local experiences. Most of all, they want a real connection with people in the places they visit. There’s nothing more satisfying
than experiences that connect your clients with local people and culture. Match local experiences to your clients’ interests. It can be a meal prepared together in a private home, a hike led by a local botanist or a concert with the opportunity to meet a famous violinist. The experiences should be exclusive – a behind-the-scenes event that would be impossible to arrange on their own. Travellers who value exclusivity will spend up to 20% more for the experience. Glamour has been replaced by charm;
giant hotels are giving way to small boutique havens and Airbnb. Who doesn’t crave the opportunity to live like locals? Authenticity means you’ll ensure your
ot so long ago, luxury was easy to understand and sell. It was a first-class airline ticket,
COMMENT LARRY PIMENTEL
PRESIDENT AND CHIEF EXECUTIVE AZAMARA CLUB CRUISES
Spending on luxury travel is growing 50% faster than on other luxury products
clients taste local foods (at the best hideaways), meet local people and share local customs. No more pointing them to the best tourist attractions – it’s about the complete opposite. As a result of all this, our roles within
the travel trade continue to evolve. To deliver personalised experiences, we have to know our clients better than ever before. We need to be creative. The effort is likely to be worth it.
Globally, we can expect a 16% increase
in core luxury travellers (top 1% to 3% of earners) and ‘aspirational travellers’ (top 20% of earners) between 2013 and 2020. Plus, spending on luxury travel is growing 50% faster than on other luxury products. It all adds up to a phenomenal opportunity.
WHERE TO START? To capitalise, drop your assumptions and view luxury from your client’s perspective. Your highest net-worth travellers may be a man in jeans and a sweatshirt or a woman in yoga clothes. They may be 35, 55 or 65. They may prefer expensive bikes to fast cars, or remote stays in an eco-resort to a five- star hotel. They don’t fit a mould. It’s critical to gather an arsenal of
information. To get to the heart of what your clients love, you’ll have to ask lots of questions. While price and value are part of the discussion, the focus should be on discovering the kinds of experiences that will deliver the greatest happiness and satisfaction.
aspire december 2016 — 45
Luuy Lay
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