Archive for January, 2014

Luxury Travel Makes a Stunning Rebound!

Tuesday, January 28th, 2014

The new trend in travel among the wealthy is all about “seeking memorable experiences in lesser-known destinations.”

A Travel Market Report article I ran across finds that luxury travel agents are doing exceptional business with clients seeking “experiential” vacations where they can encounter a destination’s culture, history and people.

luxury exotic travel prospects and mailing lists

Experiential luxury travel is on the rise.

Costing more than typical upscale vacation destinations, experiential adventures take people places that the average traveler will never set foot on. Fueling this trend is the fact that they’re returning from these exotic, exciting destinations telling others they have to do this and inspiring them through tales of their adventures, stunning digital photos and GoPro videos. After the sharp downturn from just a couple of years ago, this great news is resonating throughout the travel industry — exotic destinations, active tour providers, hoteliers, small ship cruises, high end travelling merchandisers. All are excited to see that luxury travel is not just back, but that it is now the #1 category where the wealthy do not want to cut back.

High cost experiential travel is best enjoyed with others. That’s why there’s a rise in multi-generational travel and groups of friends who like to travel together. When sizing up a prospective upscale travel audience, ask if you can select travelers who spend $10,000, $50,000 and even on up to over half a million dollars on a vacation. Then see if you can also reach out to those in their affluent social circles who share the means to tag along on their next adventure.

How would you like the ability to target travelers by the amount they typically spend on an exotic trip and then also get your word out to the friends and family members they influence?

Sound impossible?

It’s not! In today’s Smart Data world, you can insert yourself into the inner circles of über-wealthy travelers. Through the innovative use of multi-sourced offline data, you can actualize a digital and offline audience of active travelers with the means to go places others can only dream of.

Then you can stay in front of them and their connections online, in the mail and by email. The buzz you create will feed off itself exponentially to generate a continuous stream of first class passengers seeking the thrill of a lifetime!

 

 

Why Wealth is a Moving Target

Friday, January 10th, 2014

Easy come. Easy go.  Well, it’s not that easy to attain riches and generally those who do manage to hold onto it. However, targeting the wealthy is becoming more difficult as there are many new affluents wielding increased spending power while others are pulling in the reins of their once high-flying lifestyles.

wealth is a moving target

Reaching affluent consumers is a moving target.

New persons of very high net worth are popping up on our radar every day. Unfortunately, many individuals who once made the cut must get culled from Wealth Window based on their diminished income and assets.

The good news is that 1-in-5 in the U.S. attains a very high level of affluence at some point in their life earning incomes of $250,000 or more, putting them — if temporarily — in the top 2%. These new rich are politically influential and their spending is key to the U.S. economic recovery, according to a recent Associated Press article. “

It’s also the key to keeping the U.S. luxury travel and brand merchandise industries alive and thriving. The Luxury Goods Worldwide Market Study reports that the Americas region is “the king of the luxury goods spending hill, estimated to grow at 4% in 2013 vs. 2012.”

No doubt this growth has something to do with the rising ranks of the new rich. From ladder-climbing professionals to retirees who’ve finally achieved financial freedom, new discretionary income is creating newfound luxury lifestyles that may be overlooked by upscale marketers.

Being among the first luxury brands to notice, and therefore address, their change in financial status will quickly gain their attention and earn their loyalty. So when acquiring affluent consumer prospecting data, be sure to ask for new names that have been recently added as a separate segment. Think about how your creative might differ in targeting new money from that delivered to the old money crowd. It’s a great way to keep your messaging personal and therefore effective.

Here’s wishing you a prosperous new year and increasing prosperity in years to come!

 

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