Karen Weiner Escalera

President of KWE Group spoke to us, presenting an Industry Update to us, in a presentation called "Luxury Travel and Lifestyle Trends".

The Game has Changed

Insights, marketing strategies and opportunities for the future.

Value rules the day.

Value at all price points. A badge of honor and challenge for the consumers.

People want value-add AND low price.

Neo-tribalism

Fracturing of society into "tribes"

Family, friends and "village" are paramount

Think psychographics, not demographics.

In times of economic change, people tend to retreat to their family, friends, and 'tribes' -- groups of people who share common interests. Social communities, on- and off-line. Some on-line communities are starting to meet off-line.

Think Niche Marketing

Golf, History, Fly fishing, Gardening, Food & Wine, Crafts, Culture are some classic ones.

Niche marketing needs a lot of content -- you need to DIG DOWN DEEP. More content the better.

Family Travel (lots of opportunity)

Family reunions,

Religious Groups

Single/divorced parents

Active families

Gay/lesbian parents

Multicultural families

Grandparent travel

Women

39% dissatisfied with the lodging industry

Women-only travel is up 230% in the past six years

Niche markets by position and interest (i.e. Women & Wine, Adventure Women, Cancer Survivors, Surfing Women, Divorcees (jeweler consulation to redesign wedding rings)

Women's networking groups

New niches

Beekeeping tourism

Grief tourism (hollocaust, Rwanda, etc.)

Danger tourism

Pet travel (despite recession, it has increased) (learning vacations for pets)

Baby hotels

Slum tourism

Cinema tourism

Glamping + flashpacking (glamorous camping= glamping; backpackers upgrade = flashpacking)

Slow food

Target niches -- power of video

Video is a natural tie-in with social media, hence the greater demand of video content

Last year, sites with video averaged 3.53 videos viewed per visit

Sites averaged 6.62 videos per visitor per month (users come back and watch even more)
Average time spent per visit: 6.13 minutes

The average online viewer watched 273 minutes of video in 2008 -- up 40% from 2007.

They need to be content driven, inform, amuse, entertain -- not marketing driven

Viral marketing

Middle Class Values -- from Wall St. to Main St.

Old vocabulary

Over the top
Quantity

Fashionista

High design

Flash

Super-sized

Branded luxury

Status symbols

Spectator

Extravagance

New vocabulary

Value

Quality

Frugalista

Smart design

Substance

Real-sized

Individualistic luxury

Status skills

Pariticipation

Simplicity

Reinvention Revolution

Finely hone, retool or reinvent your USP's

Play to self-enrichment and professional developent

Business travel for reinvention: Educational institutions as strategic partners. Present local professors as speakers to groups. Professional development seminars

Emphasis historic and belook and re-calibrate your look to be fresh and play to needs above.

Altruism & Eco-necessity

Altruism

Saving the planet

Volun-tourism
Literacy, Habitat for Humanity, Give-back vacations

Going green a financial imperative

Authenticity & Provenance

Uniquenss, escaping homogeneity

Locavores and slow food

Provenance: where is it from, especially foods/wines?

Neighborhoods

Concierge mentality
Antidote of "consumer terrorism" and be a citizen journalist
Spread a concierge mentality
Empower employees and staff with power and $$$$
Builds consumer loyalty and brand story advocates
Be sure to monitor the social media and do something!

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Juli