The Global Luxury Travel Trends Report global briefing offers an insight into the size and shape of the luxury goods industry, highlights buzz topics, emerging trends as well as pressing industry issues, their effects on luxury goods retailing in markets around the world and on the development of consumers’ shopping patterns. Forecasts illustrate how the market is set to change and criteria for success. In short, it identifies the opportunity zones within luxury goods industry
Product coverage: Designer Apparel and Footwear (Ready-to-Wear), Fine Wines/Champagne and Spirits, Luxury Eyewear, Luxury Jewellery, Luxury Leather Goods, Luxury Portable Consumer Electronics, Luxury Timepieces, Luxury Writing Instruments and Stationery, Super Premium Beauty and Personal Care.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
- Get a detailed picture of the Luxury Goods market;
- Pinpoint growth sectors and identify factors driving change;
- Understand the competitive environment, the market’s major players and leading brands;
- Use five-year forecasts to assess how the market is predicted to develop.
The luxury travel industry is once again in the grip of major upheaval, with rising geopolitical tensions, such as the spill-over effects of the Middle East conflict, giving rise to mass migration and terrorist attacks. At the same time, luxury travel has entered a new phase, in which conspicuous consumption is giving way to conscientious consumption and more meaningful and “authentic” luxury travel experiences.
Luxury consumers continue to reassess their values and are increasingly focused on getting the most out of life. Luxury travel has entered a new phase, in which conspicuous consumption is giving way to conscientious consumption as well as a desire for wellbeing and luxury “experiences”.
Terrorism takes its toll on luxury tourism
Travel continues to be a target for terrorist attacks across the world. Atrocities cause a short, sharp decline, followed by a rebound. However, sustained and frequent attacks, as in Turkey and Egypt, have a more long-term effect.
Leisure travel growing
An increase in international leisure travel is expected within luxury travel, driven by growing tourism flows from emerging markets, in particular aspirational middle class consumers.
Seamless luxury travel experiences
Seamless luxury services require the establishment of up-to-date real-time interaction with all stakeholders servicing all stage of the passenger journey. Airlines are also reviewing the creation of more open ecosystems, which can support such a seamless experience.
Luxury in China spreading
Tier two and three cities in China are set to see more luxury hotel investment, as they become increasingly accessible and see large business flows.
Luxury wellness travel
Luxury wellness travel is on the rise, which has resulted in an increased number of traditional holidays and safari breaks being accompanied by meditation, fitness, yoga and spa services.
Luxury sharing economy going more mainstream
Luxury accommodation providers and start-ups are offering pay-as-you-go convenience by offering designer clothing to buy or rent in hotel rooms.