A collective backlash against ostentatious spending is fuelling new anxiety among luxury consumers. Now high-end brands must adapt to a new world view, creating products and services that are more social, accessible and supportive of others. Our Luxury and Hospitality Futures Report 2018 reveals the potential for purpose-driven offerings that respond to the evolved outlook of today’s luxurians, from lab-grown diamonds to cause-driven investing and equitable luxury travel.
Through the macrotrend Uneasy Affluence, the report explores the challenges faced by luxury brands as they embrace this shifting consumer mindset, as well as the steps that will inspire future spending, loyalty and investment from wealthy consumers. Further insights come from the key rising microtrends set to shape the luxury market and consumer experiences in 2019, from Low-proof Drinkers who rate flavour over intoxication to the New Casinos rethinking gambling formats.
Top: Nylon Farm for Prada SS18 by DLV BBDO, Tuscany
The report combines rising trends, consumer insights and key technological innovations, as well as best-in-class case studies.
The new aristocracy seeking to downplay their privilege in an era of inequality; falling trust in the charity sector leading to Fraught Philanthropy; Millennials desiring a greater purpose beyond making money; and increasingly transparent supply chains leading to a greater awareness of the social impact of luxury brands.
Inconspicuous purchases are markers of affluent living; stripped-back hospitality for environmentally conscious wealthy guests; luxury travel providers tapping into the opportunities of the sharing economy; Lab-grown Luxury goods from diamonds to meat alternatives; and new thinking around investments to create positive social change.
Artificial intelligence as the trusted proxy by which the wealthy live their lives; a new era of Democratised Patronage; the vast potential of blockchain to inspire future spending among those uneasy with their wealth; and luxury brands integrating themselves into the virtual lives of their customers.
: Lab Notes
The report includes practical strategies to harness the intelligence in your organisation, to build strategies that resonate with the more considerate luxurians of the future.
Do you want your brand to play its part in a more purpose-driven future?
Are you ready to transform elite experiences with a more considered approach to sourcing?
Are you interested in how technology continues to shape access to luxury goods?
If you are a LS:N Global member, you can access this report for free on LS:N Global here.
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Luxury & Hospitality Futures Report
‘The Future Laboratory’s presentation did exactly what we wanted it to – offer a glimpse of even further ahead in a compelling and engaging way to prepare for what brands need next’
– Maya Draisin, associate publisher and head of marketing, Wired
Are you looking for a quick and compelling way to share this information with your team? Or perhaps you have an event that requires a thought-leading and inspiring keynote?
We provide sharp 20-, 40- and 60-minute presentations, which are delivered by our expert researchers and analysts, and feature all of the key insights from the report, to connect business leaders with the latest trends, innovations and shifts in consumer behaviour in a live, interactive environment.
Our Luxury and Hospitality Futures 2018 Presentation will provide insights to help your team adapt to and innovate for the new luxurian mindset.
This report is based on research from our Luxury sector on The Future Laboratory’s trends intelligence platform, LS
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