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MTL + ECOMMERCE #29 - The Evolution of Luxury by Luxury Retreats

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The Evolution of Luxury by Luxury Retreats

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MTL + ECOMMERCE #29 - The Evolution of Luxury by Luxury Retreats

  1. 1. The Evolution of Luxury
  2. 2. The Industry KEY TRENDS
  3. 3. TREND 1
  4. 4. United States: Main contributor for future growth
  5. 5. 450 300 220 29 20 7 6 49 330 150 0 +$110B 2014 2021AMERICANS CHINESE EUROPEAN MIDDLE EASTERN OTHERS P&E Luxury Market Growth by Nationality TOP LUXURY New Growth Drivers
  6. 6. US Consumers 137 M UNDER $75K 96 M $75K - $250K 2013 2014 $250K+ 9 M 141 M UNDER $75K 91 M $75K - $250K $250K+ 8 M TOTAL ADULTS: 239 M TOTAL ADULTS: 242 M
  7. 7. 1500 1000 500 0 67 61 121 41 49 62 354 ACCESSORIES APPAREL WATCHES & JEWELRY PERFUME& COSMETICS FURNITURE HOTEL & EXCLUSIVE VACATION FOOD & WINE Personal Luxury $290B Experiential Luxury $465B Covered by True-Luxury Global Consumer Insight Luxury Market ($B,2014 retail value) P&E MARKET: $755B 350 CARS & YACHTS Cars & Yachts $350B
  8. 8. The rise of online luxury 2007 2.5 3.6 5.6 15.0 9.0 2009 2011 2013 2015F % on total luxury 1.2% 5%+ • +25% YoY • Omnichannel • Content
  9. 9. 5 Macro Trends in Travel 1. Experience Collectors 2. Travel by passion 3. Value for time 4. Family & Group Travel 5. Sharing economy
  10. 10. TREND 2
  11. 11. From “having” to “being”
  12. 12. Having For self only Usually visible to others For the mid-long term Instant pleasure Not always visible Often with others Being PERSONAL LUXURY GOOD EXPERIENTIAL LUXURYHYBRID
  13. 13. “Memories are all we get to keep from the experience of living. We make our buying decisions in terms of our memories” -The Happiness Halo - Lippincott
  14. 14. The Sharing Economy Experience The Experience The Hotel Experience Competitive Advantage
  15. 15. Exceptional, Personalized Service Authentic, Unique Experiences Unmatched Knowledge and Expertise Curated Portfolio of Luxury Properties No Extra Fees De-randomize experience
  16. 16. Guest Life cycle
  17. 17. How DATA TECHNOLOGY PEOPLE CONTENT EXPERIENCE
  18. 18. TREND 3
  19. 19. Word of Mouth: #1 influencer for luxury
  20. 20. SEEN WORN CELEBRITIES EVENTS TAILORED OFFER TV & MOVIES BRAND WEBSITE STORE WINDOWS WoM MAGAZINES 13% 20% 20% 22% 24% 34% 39% 43% 50% SEEN WORN CELEBRITIES EVENTS TAILORED OFFER TV & MOVIES BRAND WEBSITE STORE WINDOWS WoM MAGAZINES 19% 23% 26% 30% 31% 32% 32% 39% 49% 2013 2014 % OF RESPONDENTS 32% 11% 29% 20% Impact on purchase decision SOCIAL MEDIA & BLOGS PHYSICAL
  21. 21. 2013 2014 32% 6% 5% 29% 12% 8% +6pp WoM Digitization Index +3pp (3pp) +6pp PHYSICAL 0.3 0.7 WoM Digitization
  22. 22. • Enlisted nine bloggers to help drive online and brick-and-mortar sales • Hosted a series of in-store events across the U.S, resulting in 147,000 social interactions • Blogger Christine Andrew of Hello Fashion fueled a 107% uptick in “likes” and 465% increase in comments to Neiman Marcus’ Instagram page after a fall Trend event • Rach Parcell of Pink Peonies drove $1 million in sales to nordstrom.com during the 2014 holiday season Impact of blogger collaboration in luxury
  23. 23. Influencer Strategy Know your audience Find the right ambassadors Test, learn & scale
  24. 24. Our audience LOCATION INTERESTS DEMOGRAPHIC
  25. 25. Our Recipe HELEN OWEN LA model and social media favorite KAT TANITA Ultra-stylish writer of With Love From Kat THE BUCKET LIST FAMILY Family of Adventure Travel Journalists Type of influencers Goals Results
  26. 26. Ciara, Russell Wilson Enjoy a Romantic Getaway in Mexico: See the Pics!
  27. 27. ENGAGEMENT Mentions Likes Shares Reposts Reviews SEO OPTIMIZED Aligned content Calendar for social & magazine & site SEO OPTIMIZED Aligned keywords strategy with PPC LRI PLATFORMS Website Mobile site Magazine Social media app ADVERTISING PPC Retargeting Display ads Paid Influencers Paid content Social media ads OWNED MEDIA The Digital Catalyst
  28. 28. Questions?

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