Key thought-starters for luxury and hospitality brands and businesses:
Foster community engagement
As consumers participate in online communities centred around shared interests to gain exclusive access, brands and businesses should look at the role these communities can play for them, opening a valuable channel to enhance loyalty and strengthen relationships where engagement can be incentivised with exclusive access and perks. How can brands and businesses employ communities to create new opportunities for exclusive, money-can’t-buy brand experiences?
Double down on VICs
From products to experiences, consumers are seeking new status symbols, where being in the know and well connected count for more than a high price tag. As VICs expect elevated sensory experiences, how can brands and businesses develop bespoke and personalised touchpoints that build loyalty and sentiment?
Address digital native luxurians
As digital native luxurians redefine expectations of luxury, fuelled by NFTs and the blockchain, what role can brands play by integrating digital signifiers of wealth and status to drive engagement from a new set of luxury consumers?
With new consumers, new products and new ways to connect, the changes in the luxury and hospitality industries are clear to see. While economic pressures mean some customers are being squeezed financially, others are wealthier than ever. Brands will shape what happens next. Those that are successful will find ways to create memorable customer experiences, relationships and products.
Our team of strategists have developed a wide-ranging set of strategic decision-making tools to help provide future-first solutions for our clients. If you would like to discuss how our Redemptive Diets macrotrend could support future planning for your brand, or if you have any questions about embedding our macrotrends into your business, send us a message at firstname.lastname@example.org. We look forward to accelerating into the future with you.
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