Yachts are an established part of high society in the US and Europe but haven't taken off as much in Asia, which is where the conceptual 'YUWANG' yacht looks to change things. Designed by Jesse Huijser, the yacht was created for the Asian market to offer affluent consumers with a vessel that is specifically created with their lifestyle in mind. This includes a floating living space, ample private outdoor space and a familial oriented design that can accommodate everyone in the family when heading out for a leisure cruise.
The conceptual 'YUWANG' yacht identifies how designers and brands are creating new products and solutions for the Asian market as it continues to increase in terms of international dominance and Millennial affluence.
Luxury Asian Market Yachts
The 'YUWANG' Yacht Speaks to Emerging Affluent Consumers
Trend Themes
1. Increasing Asian Yacht Market - The 'YUWANG' yacht showcases the growing demand for luxury yachts in Asia, presenting opportunities for yacht designers and brands to cater to this emerging market.
2. Tailored Lifestyle-focused Yachts - The 'YUWANG' yacht highlights the need for yacht manufacturers to design vessels that cater to the specific lifestyles and preferences of affluent Asian consumers, opening up opportunities for customization and personalized features.
3. Millennial-driven Yacht Designs - The 'YUWANG' yacht taps into the rising affluence of Asian Millennials, indicating a potential trend for designing yachts that appeal to this segment, creating opportunities for brands to target this growing demographic.
Industry Implications
1. Luxury Yacht Manufacturing - The emergence of the Asian yacht market calls for luxury yacht manufacturers to expand their operations and offerings to meet the rising demand in this region.
2. Custom Yacht Design - The demand for tailored lifestyle-focused yachts in Asia presents an opportunity for designers and boat builders to specialize in creating customized yachts that cater to the unique preferences and needs of affluent consumers.
3. Asian Luxury Travel and Leisure - The growing interest in luxury yachts among Asian consumers suggests potential growth and investment opportunities in the luxury travel and leisure industry, as companies can target this market segment through yacht rentals, experiences, and services.