As the world ground to a halt in 2020 under the grip of Covid-19, the pandemic proved the fragility of a luxury sector that’s reliant on physical spaces and the specific individuals who seek out these places, whether they be tourists heading for heritage stores, souvenir-seekers or experience-chasing itinerant luxurians.
Now, as we look towards 2021, our new Luxury & Hospitality Futures report explores how both sectors are responding to the near- and long-term impacts of the pandemic, featuring practical insights and inspiring case studies to engage, enthral and boost loyalty among consumers in the inter-Covid era.
We reveal how luxury consumers and brands are navigating our collective new normal, with the emergence of local luxuries, the recalibration of self and privacy, and the formation of close-knit communities in the digital realm.
Also inside this report is our latest luxury and hospitality macrotrend, Omnilux Lifestyles. Here we reveal the opportunity for luxury to embrace technology to provide anytime attainment anywhere in the world for luxurians, at a time when many remain cautious about resuming their pre-pandemic lifestyles and consumption behaviours.
Top image credit: Off-White’s Miami flagship is a multifunctional retail and events space designed by Virgil Abloh and AMO Design
A look at recent shifts in the luxury and hospitality markets that are shaping new directions today, from consumers’ quest for more conscious consumption to the rise of homebody mindsets and investing in safe-haven commodities.
The seven nascent trends emerging in the inter-pandemic era, examining how the notion of omnipresence is shaping access to luxury goods, services and experiences. Explore how brand DNA is being digitised, the boundless opportunities for virtual commerce and the loyalty-boosting hospitality moments for Covid-cautious luxurians.
In the decade ahead, luxury and hospitality brands will make themselves indispensable in luxurians’ everyday existence through new approaches to travel, lifestyle curation and customisable living.
: Lab Notes
A series of practical strategies to harness the intelligence in your organisation, from finding your place in customers’ daily lives to new ways to deliver services at a distance.
Image credit: Digital Showroom by Industrie Africa, Africa
Help prepare your business for the changes ahead by downloading the Luxury & Hospitality Futures Report 2020 now.
This report is free for all LS:N Global members.
If you are a LS:N Global member, you can also access this report for free on LS:N Global here.
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Luxury & Hospitality Futures Report
This report is based on research from our Luxury and Travel & Hospitality sectors on The Future Laboratory’s trends intelligence platform, LS
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Image credit: LS:N Global by Victoria Ling for The Future Laboratory