the future of luxury - global trend briefing

GLOBAL TREND BRIEFING · SEPTEMBER 2016 | THE FUTURE OF LUXURY: PPT EDITION

S E P T E M B E R 2 0 1 6 G L O B A L T R E N D B R I E F I N G

Five trends reshaping luxury consumerism in 2017 and beyond!

THE FUTURE OF LUXURY


Michelin star dining at a street food stall...


A Pepsi-themed luxury bar and lounge in Manhattan...


In 2017, the expectations of luxury consumers are changing fast...


Luxury has always been about status. But affluence and connectivity shifted the frontiers.


Status has become less about 'what I have' and much more about 'who I am': more ethical, creative, connected, tasteful than the masses.


Everyone knows about the global luxury slowdown...

… but the smartest brands will see it as a massive OPPORTUNITY!


The global luxury market will reach EUR 295 billion in revenue by 2020.

BAINANDCOMPANY,MAY2016


1. THE QUINTESSENTIAL SELF

2. V.I.D.

3. PREMIUM REDEEMED

4. THE EXTRAVAGANCE ECONOMY

5. POST-DEMOGRAPHIC LUXURY

Five trends transforming THE FUTURE OF LUXURY in 2017 and beyond...


Because my self-actualization is faster, smarter and more shareable than yours.

THE QUINTESSENTIAL SELF

N U M B E R O N E


W H Y N O W

... if you're happy with average ;)

Self-actualization is fine...


Luxury holiday package for people running Barcelona marathon


Mandarin Oriental Barcelona


Samsung & de GRISOGONO USD 15,000 luxury watch tracks physical metrics



Crunch Gym

Antigravity meditation and mindfulness sessions



Barts

Bar serves mood-enhancing cocktails




Seabourn

Luxury cruises focus on wellbeing


Remember, the self-actualization arms race is mainstream.

N E X T


Very Important Data.

V.I.D. N U M B E R T W O


But some data is more equal than others...

W H Y N O W

All personal data is equal.


39% of Ultra High Net Worth Individuals worldwide say that online privacy and security

is an issue of concern for them when it comes to the creation and preservation of their wealth.

THEKNIGHTFRANKWEALTHREPORT,2016


App stores personal data in Swiss bunker

V.I.D.

Bvlgari


Smartphone has military-grade data security

V.I.D.

SIRIN LABS


Prototype smartphone case tells user when phone is sharing information

V.I.D.

Introspection Engine


You don't have to be a tech brand to apply this trend. If you're not, think partnerships.

N E X T


Luxury that makes the world a better place.

PREMIUM REDEEMED N U M B E R T H R E E


W H Y N O W

Status used to be about how much money you made.

In 2016, it's about how much money you can give away.


In June 2016, Fortune Magazine reported that 17 new billionaires had joined the The Giving Pledge

S I G N O F T H E T I M E S


Tech CEOs and Hollywood actors invest in lab-grown diamonds statup

PREMIUM REDEEMED

Diamond Foundry


Luxury vodka is distilled from San Francisco fog water

PREMIUM REDEEMED

Fog Point


Campaign encourages Chinese women to pursue their dreams

PREMIUM REDEEMED

SK-II


Sunglasses brand aim to take down North Korean regime

PREMIUM REDEEMED

Dear Leader


The key questions to ask during your team brainstorm: where in our business do we apply this trend?

N E X T


Luxury on demand.

THE EXTRAVAGANCE ECONOMY

N U M B E R F O U R


The on-demand economy has permanently rewired expectations.

Luxury dinner party delivered to the doorstep? Pass me the smartphone…


On-demand private jet seats between London and Europe


JetSmarter


App lets users liveshop luxury fashion show


Tmall



Quiero Taxi Exótico

On-demand supercar taxis


Luxury dinner parties on demand


Hunter VIII Hunter


N E X T Want to get ahead of the on-demand curve? Take your cue from PREMIUM REDEEMED, and start thinking ethical on-demand luxe services.

N E X T


Disrupted demographics transform the who, where and when of luxury.

POST-DEMOGRAPHIC LUXURY

N U M B E R F I V E


Time to throw out old thinking on WHO your customers are and HOW you serve them.

Embrace a world in which identities, lifestyles – and

expectations – are liberated from demographic determinism.


Capsule collection on sale via traveling truck


Fendi


Italian supercar maker targets women and families


Lamborghini


Luxury womenswear brand’s ads fronted by male actor


Louis Vuitton


Italian fashion brand runs street graffiti campaign


Dolce & Gabbana


Swiss watchmaker partners with graffiti artist


Richard Mille


POST-DEMOGRAPHIC CONSUMERISM is transforming customer expectations in every industry.

N E X T


But ridiculous can fast become revolutionary.

THESE MIGHT SEEM RIDICULOUS NOW...

A N D F I N A L L Y


Ridiculed to revolutionary: the luxury story that happens over and again.


THE FUTURE OF LUXURY is... danger? These tumblers, from Martin Jakobsen, are made from radioactive uranium-glass.


THE FUTURE OF LUXURY is... invisibility? The ISHU scarf features light-reflecting 'anti-flash technology' that makes the wearer invisible.


THE FUTURE OF LUXURY is... immortality? Eternime collects social media and memories to create a chatbot version of the user upon death.


THE BIGGER PICTURE Seeing these trends in the context of our Trend

Framework.


Spotting trends? It all starts with innovations. Start watching the innovations – products, services, campaigns – flooding into the market now. Draw lines between similar innovations and interrogate them for the new expectations they're helping to create. How do we process and contextualize the thousands of innovations we spot? It helps to have a Framework...

T H E B I G G E R P I C T U R E


16 mega-trends that provide structure and context when tracking innovation.

The Trend Framework T H E B I G G E R P I C T U R E


OVER TO YOU!

trendwatching.com/trends/consumertrendcanvas/

the future of luxury - global trend briefing

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