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GlobalData Plc details a study of the luxury travel industry, influenced by covid-19 and provides analysis on consumer trends and future challenges in the sector.
The luxury travel experience is not only about the destination and services, but also about the details that matter. Luxury tourism can be about visiting or staying in the most elusive or exclusive places, where peace, tranquility or experiences reign.
Trends in the luxury travel market
For some luxury travelers, hyper-personalization is a necessity. Given customer expectations, luxury travel retailers must meet the demand for personalized experiences, not only to differentiate themselves but to successfully capture the customer from the competition and provide an experience they will remember.
When done right, personalization can reduce marketing and sales costs, increase customer satisfaction, drive engagement and increase brand loyalty. Leading personalization companies will need to integrate technology and connect information based on collected data to better understand each individual and their target market.
The impact of covid-19
Affluent travelers are increasingly turning to products and services that offer a high level of privacy in order to reduce their risk from the virus. They are more likely to demand private stays, in large villas or boutique hotels, where a family bubble or group could stay without the risk of running into anyone else.
In addition, the pandemic has changed their travel preferences. Due to the infectious nature of the virus, shared modes of travel, such as public transit and carpooling, are seen as riskier than individual modes of travel. With respect to air travel, the study highlighted the notable increase in the use of private aviation compared to commercial air travel. Some of the demand for private flights would also come from passengers wishing to fly nonstop on routes left unused by commercial airlines that reduced their networks during the pandemic.
Key destinations for luxury travel include Mauritius, the United Arab Emirates and New York. The players favored by luxury travelers include Marriott, Kempinski, Emirates, Singapore Airlines and Belmond.
Read also > [LUXUS+ MAGAZINE] ACCOR : THE NEW ONEFINESTAY PROPERTIES TAKE US ON A JOURNEY
Featured photo : Petra Marriott Hotel © Wanderlustrads[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
GlobalData Plc details a study of the luxury travel industry, influenced by covid-19 and provides analysis on consumer trends and future challenges in the sector.
The luxury travel experience is not only about the destination and services, but also about the details that matter. Luxury tourism can be about visiting or staying in the most elusive or exclusive places, where peace, tranquility or experiences reign.
Trends in the luxury travel market
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GlobalData Plc details a study of the luxury travel industry, influenced by covid-19 and provides analysis on consumer trends and future challenges in the sector.
The luxury travel experience is not only about the destination and services, but also about the details that matter. Luxury tourism can be about visiting or staying in the most elusive or exclusive places, where peace, tranquility or experiences reign.
Trends in the luxury travel market
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