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Welcome Sept 2007
 

Welcome Sept 2007

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Welcome module for online luxury marketing course

Welcome module for online luxury marketing course

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    Welcome Sept 2007 Welcome Sept 2007 Presentation Transcript

    • September 1-30, 2007 E. Craig - Instructor Welcome……
    • September 1-30, 2007 E. Craig - Instructor Welcome……Online Marketing for Luxury Hotels
    • September 1-30, 2007 E. Craig - Instructor Wired and wealthy online…..
    • September 1-30, 2007 E. Craig - Instructor Who are they…..
    • September 1-30, 2007 E. Craig - Instructor Who are they……where do they go online What do they buy online….what are the Opportunities for hoteliers?
    • September 1-30, 2007 E. Craig - Instructor This brief course for hospitality professionals Will explore these questions……plus
    • September 1-30, 2007 E. Craig - Instructor
      • Creating exclusivity online
      • 3rd Party Distribution for Luxury and
      • Distinctive Properties
      • Emerging Luxury Markets…Asia + Russia
      • Opportuntity…Trading Up New Luxury buyers
    • September 1-30, 2007 E. Craig - Instructor
      • Creating exclusivity online
      • 3rd Party Distribution for Luxury and
      • Distinctive Properties
      • Emerging Luxury Markets…Asia + Russia
      • Opportuntity…Trading Up New Luxury buyers
      One module per week…plus videos, articles and resources
    • September 1-30, 2007 E. Craig - Instructor But……
    • September 1-30, 2007 E. Craig - Instructor But……your participation will make this Course lively, informative…and relevant.
    • September 1-30, 2007 E. Craig - Instructor Please feel free to post questions and comments….contribute to the discusssions… It won’t take much time.
    • September 1-30, 2007 E. Craig - Instructor Please feel free to post questions and comments….contribute to the discusssions… It won’t take much time…… Everyone will benefit from shared expertise.
    • September 1-30, 2007 E. Craig - Instructor So now to get started….some background information..
    • September 1-30, 2007 E. Craig - Instructor The luxury consumer has changed….
    •  
    • And there are more opportunities, globally….
    •  
      • Three tiers of affluence ( Premium Knowledge Group )
        • Wealthy Tier - $1M minimum in investable/ leveragable assets
          • 600,000 households with $10m in assets.
          • High Net Worth Individuals (HNWI)
          • The number of households in this category is doubling annually
        • Affluent Tier - Minimum $150K HHI
          • 6M+ households (top 5%)
          • 35K new millionaires created each month
        • Mass Affluent Tier - 75K HHI
          • 16M households (next 15%)
          • Aspirational buyers who are trading up
          • Young Affluents – young families is the strongest growth sector for
          • Travel and hotel industry.
      Retailers and consulting groups define wealthy Consumers….
    • How affluents obtained their wealth varies….
      • Business ownership or sale of business ownership is the primary source (37%) of wealth for the majority of the world’s HNWIs.
        • Income ranks second at 24%
        • Inheritance is third at 18%
          • In 2001, for HNWI, inheritance was
            • North America 21%
            • Europe 37%
      • 15% percent of global population is 56+ years old.
        • 61% of HNWI are 56+ years old.
      • $41 trillion will change hands over the next 40 years via inheritance in the United States.
        • 19% of HNWI American’s children live outside the United States. 
      • $31 billion – amount Warren Buffett pledged to the Bill & Melinda Gates Foundation.
        • 92% of HNWIs are projected to transfer their wealth to extended and immediate family.
      • Retail
      • In 2006 Luxury Retail Goods are estimated at $194 billion globally.
        • Approx 16.9% of all retail is luxury
      • Europe consumes 41% of all luxury products. 
        • The United States is only 30%
        • Asia is 25%
      • 20% - 30% annual growth in luxury retail segment
            • General retail growth is less than 5%
      • Online retail (mass and luxury) spending reached $102.1 billion in 2006 –
        • a 24-percent increase versus 2005.
        • Online holiday e-commerce accounted for $24.6 billion, up 26 percent versus last year.
      • 3.1% Percent of pretax income spent on food
        • 41.4% of that goes toward food consumed outside the home. 
      Retail and online purchasing growth rate is Significantly above ‘standard’ e-commerce growth….
    • September 1-30, 2007 E. Craig - Instructor Do affluent consumers shop and buy online?
    • September 1-30, 2007 E. Craig - Instructor Do affluent consumers shop and buy online? … Yes… the ‘wired and wealthy’ are more comfortable with online purchases, financial transactions, auctions than the ‘average’ consumer.
    • Luxury Collectables
    • Luxury and Designer Brands
    • Luxury ‘Art de Vivre’
    • Luxury Items Auctions
    • Luxury High-Tech Accessories
    • September 1-30, 2007 E. Craig - Instructor So, what does this all mean for you… A luxury hotelier?
    • September 1-30, 2007 E. Craig - Instructor Opportunity…..
    • September 1-30, 2007 E. Craig - Instructor Opportunity….especially for those who understand How affluent consumers relate to the Internet.
    • September 1-30, 2007 E. Craig - Instructor Stop by each week… at the end of the course You will have a good understanding of how to Capture this customer segment online….and deliver More business to your hotel.
    • September 1-30, 2007 E. Craig - Instructor Questions, comments, suggestions…..
    • September 1-30, 2007 E. Craig - Instructor Questions, comments, suggestions….. Just let me know…we’ll be happy to hear from you. [email_address]