The Future of Luxury Experience
- The AHA Group
- Jan 28
- 1 min read
Several months ago, I was asked to submit a forecast. Something commonplace in business, right?
But this was not your typical financial forecast.
I was asked to forecast the Future of Luxury Experience.
For a global luxury company. Then a luxury Maison, afterwards a luxury jet company, and then a famous whiskey house. Until, one day, someone called me a “Luxury Futurist”.
What I find so interesting about the luxury space is that these are companies that often serve as the pilots for concepts and ideas others will use. These ideas become the inspiration for other industries and other segments. As an example, healthcare regularly looks to luxury hospitality for concepts that can be applied to improve the patient experience.
We need segments that are willing to constantly seek that next generation of experience, so that other segments - mass retail, airlines, homebuilders, and hospital systems--- as examples - can all benefit. Of course, innovation happens everywhere, but in the unforgiving world of luxury, the future of experience is a battleground royale.
And this ground is shifting rapidly - the old ideas about Wow moments, 5-star service models, and other long-standing luxury mainstay concepts, are now relegated to the “new basics” – the table-stakes expected by today’s modern luxury consumer. These old ideas might keep you in the back of the pack for a while, but they won't grow your market share.
New themes in luxury and new core tenets have taken their place. While a handful of luxury innovators can continue to lead the charge in this segment, the success of many behind them will depend on how quickly they catch up!