Once-costly travel options are made more accessible for the average consumer
Implications - Brands associated with luxury travel are accommodating individuals with constrained budgets by offering more cost-effective, but still high-end, travel options. With the social media age putting more pressure on average consumers to live seemingly "luxurious" lives, this shift is able to accommodate elements of that preference in a way that remains accessible.
Workshop Question - How could your brand accommodate the shifts in consumer behaviour that have been accelerated or kickstarted by the social media age?
Trend Themes
1. Luxury Car Subscription Services - The rise of luxury car subscription services is disrupting traditional car ownership and offers an opportunity for more flexible and accessible vehicle usage.
2. Modern Camping Hubs - The move towards creating more eco-friendly and nature-immersive camping accommodations presents an opportunity for unique and sustainable hospitality experiences.
3. Affordable Private Jet Services - The emergence of affordable private jet services presents a disruptive innovation opportunity for the aviation industry to cater to travelers seeking luxury and comfort at a lower cost.
Industry Implications
1. Automotive Industry - As luxury car subscription services continue to gain popularity, the automotive industry can embrace flexible, subscription-based models to cater to evolving consumer needs.
2. Hospitality Industry - The move towards eco-friendly and nature-immersive camping hubs presents a lucrative opportunity for the hospitality industry to build unique, sustainable and unforgettable holiday experiences.
3. Aviation Industry - The affordability of private jet services is disrupting commercial air travel by providing a unique, luxury experience at a relatively lower cost, giving the aviation industry a chance to rethink their traditional business model.
