Next Gen Luxury Travel and Luxury Experiences By ILTM Cannes
by: The Beat Asia
December 15, 2023
Luxury experiences have become the cornerstone of the new luxury paradigm, as highlighted at the 22nd edition of ILTM Cannes. Industry professionals gathered to explore the latest trends in luxury travel, with a particular focus on engaging the next generation of customers. Aaron Lau, Founder and CEO of Gusto Collective, delivered an impactful presentation titled "Glocalization and Virtualization: a blueprint to building engagement with NexGen customers," shedding light on key strategies for success.
For Gen Z consumers, luxury is no longer solely defined by brands or physical possessions. Instead, they seek social capital, storytelling, and meaningful moments. Luxury travel provides the perfect avenue for these experiences, as Aaron stated, "They're looking for experiences, and there's no better way to get that experience than luxury travel."
Storytelling plays a crucial role in amplifying the impact of luxury experiences. By crafting compelling narratives around their offerings, luxury travel brands can establish emotional connections with customers and build social capital. Sharing these stories through digital platforms and leveraging social media helps foster a sense of community and inspire others to embark on their own luxury journeys.
In a paradigm shift, luxury travel brands are now initiating advocacy at the awareness stage. Aligned influencers and brand ambassadors play a pivotal role in this stage, serving as authentic advocates who amplify the brand's message through personal stories and endorsements. This approach creates a ripple effect that extends beyond traditional marketing, inspiring others and generating genuine interest.
The future of luxury travel lies in the power of experiences. Aaron Lau's presentation at ILTM Cannes illuminated the path to next-generation luxury. As the industry continues to evolve, luxury travel brands must adapt their strategies to cater to the desires of younger consumers. By embracing the principles of storytelling, advocacy, and meaningful moments, the industry can unlock new levels of engagement and create luxury experiences that deeply resonate with travellers worldwide.
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