Explaining the new rules of luxury from @the.ryanexperience
The creator presents a thesis on the evolution of luxury hospitality, arguing that the industry is failing by marketing to boomers instead of the growing Millennial and Gen Z demographic. He contrasts the old definition of luxury (opulence, wealth signaling) with the new (community, aesthetic, point of view), and concludes by advising brands to focus on building a cohesive world and feeling rather than just looking expensive.
Creator: @the.ryanexperience on Instagram
Transcript
By tier, millennials and Gen Z will account for up to 75% of all luxury buyers, but the hospitality industry is largely ignoring them. And it's because they're all selling and marketing to the wrong people. For decades, and even now, people are building luxury for one buyer. They're still creating luxury hospitality brands for boomers. I have nothing against boomers, but what they want is vastly different than what the younger generations are after. The younger generations don't care about signa
Topics: Brand Strategy, Marketing, Restaurant, Travel
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