the evolution of the luxury consumer...luxury consumers by 2025, millennials and more in meaningful...
TRANSCRIPT
T H E LU X U RY CO N S U M E RTHE EVOLUTION OF
Waldorf Astoria analyzed proprietary research, market
competition and trends addressing luxury hotel brands and
luxury accommodations to define the consumer mindset.
Based on this research and examining 12,500+ global
conversations across social media in 2017, the brand is now
defining their target consumer as The Discerning Traveler.
They expect unparalleled hospitality and seek unforgettable
service against a beautiful backdrop. While they value tradition
and heritage, they expect fresh expressions of modern luxury
that encourages mindfulness - being present in the moment.
OUR RESEARCH
R E S E A R C H H I G H L I G H T S
THE DISCERNING TRAVELER
THE CHANGING LUXURY
LANDSCAPE
The luxury market is expected to exhibit a 3 to 4% compound annual
growth rate from 2017 to 2020 with new players entering. 01
01 – BAIN (2017) | 02 – WEALTH X (2017) | 03 – LUXURY SOCIETY (2016)
O U R I N S I G H T SConsumers are seeking a sense of place to savor every moment in a world of classic luxury and iconic environments.
They want to be present and escape a world full of constant interruptions, extended work hours and social obligations.
LUXURY CONSUMERS WANT
A S E N S E O F P L AC E
TO B E P R E S E N T
I CO N I C LO C AT I O N S A N D T R AV E L
I N T U I T I V E A N D A N T I C I PATO RY S E RV I C E
N E W E X P R E S S I O N S O F LU X U RY
LUXURY BRANDS MUST
C R E AT E D E S I R E
O F F E R R A R I T Y
D E L I V E R P E R S O N A L I Z AT I O N
P R E S E N T E X P E R I E N C E S
S H A R E E M OT I V E S TO R I E S
T H E I M P L I C AT I O N S
Live Unforgettable is the alchemy of our anticipatory True Waldorf Service, our iconic
environments and our guest’s desire to live in the moment. When these three elements combine
at a Waldorf Astoria, every moment becomes unforgettable. These are moments that uniquely
blend the timeless with the timely, the humorous with the bold, or the expected with the unexpected.
For this is what it means to live in the moment. This is what it means to Live Unforgettable.
L I V E U N FOR G E T TA B L EP R E S E N T I N G
YOUNGER LUXURY
CONSUMERS
By 2025, Millennials and Generation Z will account for 45% of the global personal
luxury goods market. 01
INCREASING FEMALE
AFFLUENCE
Women have been underrepresented but are slowly gaining ground. 02
EXPERIENTIALLUXURY
This key segment is investing more in meaningful life
experiences as opposed to luxury products. 03
THE RELEVANCE CHALLENGE
The luxury landscape has changed and so
have consumer demands. Heritage brands
are facing a unique relevance challenge.
Traditional luxury brands
are labeled “old world”
Luxury brands must honor their heritage, but
still attract the next generation of consumers
A BOLD NEW CAMPAIGN
We looked at the landscape, we evaluated
the relevance challenge and adapted to create
something unexpected for Waldorf Astoria.
Bold and humorous
Resonates with all generations, globally
Challenges the traditional luxury scenes
Aspirational, yet relatable