Quality driving buying decisions

There are increasingly more articles in the mass media about hotels not rate-cutting or offering value adds – a sign that times are starting to change. So what’s the deal? Quality seems to making a comeback as a motivator in buying decisions of the affluent (though in the case of a few brands such Hermes, that was never a factor, as it was one of the luxury brands that had the lowest drop in sales in this year’s Great Recession).

As suggested today in Luxury Marketing Council of Florida gathering, probably one of the most important reasons for the new re-introduction of the quality factor is that in this recession, affluents reserved spending to real quality purchases, which held their value, reinforcing the age old wisdom that buying well is an investment. In the travel industry, quality translates not only to the obvious area of service, but also, to quality experiences that make for long lasting memories. These can be celebrations of family occasions, birthdays, and friends, or just doing something unforgettable. The new twist in the quality equation is that with the social media and its power of spreading the good and bad news virally, products are held accountable for their claims of quality. Delivering on promises is more important than ever before.

By: Karen Weiner Escalera