The Editors Select: Fortune Magazine Sept 17, 2007
Luxury Goods Annual Retail Sales Soar to $220 billion.
Global millionaires reach 9,500,000 in 2006; double a decade ago.
What Insights for Luxury Travel Marketers in U.S. and Beyond?
In From the Media we provide highlights from mainstream business and travel publications that have particular relevance for all high-end travel marketers. We enjoyed the lively presentations from senior writer Peter Gumbel. Here are a few nuggets—
"…Luxury is no longer reserved for the spoiled rich.
Increasingly it is the domain of the global middle class on an ego
trip…prepared to pay a premium for the thrill of owning something that
makes them feel special..."
What does luxury mean if everyone is doing it? Wall Street says RELAX. Luxury is a "giant pyramid", where anywhere looks good. Fortune quotes Louis Vuitton CEO Yves Carcelle to the effect that confusion does not exist in the marketplace. "Consumers are much more intelligent than one imagines."
A note from the Hotel Side: Big interior revamping at Plaza
Athenee in Paris –why? COO Francois Delahaye says it’s an attempt to
bring in a younger affluent crowd to pay those $950 a night rates for a
standard room. "The sons and daughters of our guests" he says, "are
fed up living with Louis XV style."
Ipsos Mendelsohn and American Express Publishing-Harrison Group OfferFreshInsight on Consumer Behavior in 2010
According to new studies from two blue-chip research sources, Ipsos Mendelsohn and American Express Publishing - the affluent are not only ready to travel -- they are frequently going to spend more on it. While the Ipsos study focused on intent and American Express Publishing on mindset, they both point to a surge in affluents taking to the road (Amex sees an increase of 6 to 8% in spending on all luxury categories).Interestingly, both studies agree on a positive attitude despite lingering concerns about the economy. Here's a look at the highlights of both 2010 studies.
LuxuryTravel 360 has long looked to the affluent as a burgeoning market in business and leisure travel, fueling growth in more affordable, common sense luxury - less glitz and glamour, but ready to pay extra for memorable family experiences and genuine local culture.
From the Media 
