Luxury brands entice affluent consumers through experiential events
Implications - Experiential events with the added prestige of luxury create the perfect combination to spark the affluent consumer’s fear of missing out. Appealing to the modern consumer’s desire for memorable experiences, luxury brands are promoting exclusive activations that make attendees feel like true VIPs. The increase of experience-driven rewards demonstrates a demand for creativity from brands, including higher end brands, in order to stay competitive.
Workshop Question - How can you tap into the increasing consumer desire for experiences over possessions?
Trend Themes
1. Experiential Luxury Events - Luxury brands create memorable experiences through experiential events to satiate the affluent consumer's craving for memorable experiences.
2. Music-focused Travel Platforms - Travel booking platforms are now curating trips based on concerts, festivals, and other major events, marrying entertainment with travel for millennials.
3. Interactive Luxury Entertainment - Luxury brands are venturing into the realm of immersive entertainment, creating exclusive programs, like the Illuminati Ball, which enthrall customers with dark symbolism, games and high authenticity.
Industry Implications
1. Luxury Brands - Luxury brands are enticing customers with exclusive experience-driven rewards to create a memorable relationship with their customers.
2. Beauty Industry - Beauty brands are hosting teatime sessions infused with makeup and beauty twist and other experiential events to mix luxury with beauty products.
3. Hospitality Industry - Hospitality brands are developing innovative dining experiences that combine fine food and immersive visuals, while offering exclusive destinations such as the Krug Champagne Suite at Shangri-La Hotel in Tokyo.
8 Featured, 72 Examples:
213,946 Total Clicks
Date Range:
Mar 16 — Aug 17
Trending:
Hot
Consumer Insight Topics:
