Luxury Travel & Lifestyle Trends

Who said money can’t buy friendship? Or followers? More and more companies are using social media to interact with customers and build a loyal online community every day. Retailers and travel industry suppliers alike are cleverly utilizing social networking sites by offering exclusive deals to fans, friends and followers.

With so much hotel product in the market (with more to come), combined with the drop in occupancy worldwide, more and more hotels are going to need to reinvent themselves. Big global chains have been doing this for a few years now, rolling out new brands to serve additional market segments (Aloft, Andaz, Element, Indigo, etc). The competition has become so fierce that, as most of you have read, Starwood and Hilton are even going to court over alleged stealing of research and market intelligence by the latter.

In recent years, the gambling mecca of Las Vegas attracted tourists with a campaign that portrayed it as the ideal place to indulge in extreme behavior, like conspicuous consumption. But its assurance that “What Happens Here Stays Here” lost its resonance as the recession sobered the nation’s mood and brought thrift back into fashion. By contrast, its new campaign, with the slogan “Vegas Bound,” urges hard-working Americans to take a well-deserved break in Las Vegas, so they can return re-energized for the task of making sure their homes and businesses survive the tough economy. “We had to think how we should address our customers during this financial crisis when they’re reluctant to make big financial commitments,” says Rossi Ralenkotter, chief executive of the Las Vegas Convention and Visitors Authority.

Language is the clearest living indicator of social change. With this sea change in consumer values comes a new vocabulary that will better resonate with these buyers. Using language of the gilded age such as “sophistication”, “privileged”, “exclusive” and “world class” risks the message being dismissed, let alone motivating consumers to positive action.

Americans have generally been a trusting lot, but things are changing, accelerated by the revelations over the past year of government corruption, Ponzi schemes and shenanigans in the most solid of financial institutions and banks. (Remember the expression, “you can bank on it” inspired confidence?) And not to mention the steady erosion of the trustworthiness index of an “unbiased “media as reflected in numerous polls. The bottom line is that consumer behavior has changed. Consumers are more cynical today and that cynicism is likely to grow as the recession continues.

Luxury brands used to be considered recession proof. However, we’ve all seen the figures by now, which prove that’s no longer the case. The fallout from a horrific holiday retail season has luxury marketers scrambling to redefine themselves to 2009’s consumers. Last year they had to embrace green bling, this year it’s the simplifiers – the new name to define luxury consumers and their value perceptions – who are simplifying their lives and wants.

We love to write. Good writing is good public relations – a skill always listed as one of the top requirements for a solid PR recruit. There is nothing more satisfying to read (or receive) than a well-written release, which can dramatically increase sales, generate greater awareness, and enhance the image of a business or product.

Face it, flying these days can be only for the birds but airports around the world are offering fun and soothing options to make the travel experience a little less stressful. It used to be that the only way you could kill time at an airport before a flight was by eating fast food or drinking at a bar. Times have changed and nowadays you can indulge in a massage, mani/pedi or an oxygen session and even karaoke!

Popular wisdom among luxury brands is never to cut prices or risk devaluing the exclusive perception. But in these times when even the top economists and business leaders can’t seem to find the route to prosperity, everything is up for re-evaluation.

Luxury providers constantly need to challenge themselves to find new ways of meeting (even exceeding) their customers expectations. The saavy, wealthy and on-the-go constituents of Generation X and Generation Y expect more capability, flexibility and technology.