Viewpoint - December 2007
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Viewpoint... is a regular feature, inviting key individuals to comment on the issues facing the Scottish Tourism Industry. This month Ian Yeoman looks at how the definition of luxury has changed in the mind of the consumer. Please note all Viewpoint...articles are not policies of VisitScotland but individual opinions of the authors. The material should not be regarded as specific advice and no action should be taken with reliance on it. Neither the authors nor VisitScotland accepts any liability whatsoever for any loss or damage in any way of reliance placed upon the material. The Changing Definitions of Luxury
How much would you pay for a designer hand bag for one or two night’s usage? You would probably have to pay a premium to use it on Saturday night. ‘Quintessentially’, an international concierge service and members’ club, offer customers access to first class airport lounges, designer fashion shows, nightclubs and exclusive events. How much would you pay for ‘closed to the public’, a membership fee ranging between £750 and £2,500? You can rent a Ferrari or Aston Martin car for an evening from the Classic Car Club. The idea of luxury renting enables customers to ‘access the inaccessible’. For both emotional and practical reasons consumers are, on the margins, rejecting owning products in favour of renting them. This development indicates a shift in the consumer mindset towards the ownership of possessions and luxury items. Renting allows consumers to sporadically dip into the luxury lifestyle without paying the full (unaffordable for most) price for the privilege. Fractional living like this gives them a chance to adopt an alternative, more glamorous and stylish persona for a short period of time and indulge in celebrity lifestyle – all on a budget. Consumers across the world are wishing for less stress and more relaxation. How much would you pay someone to do your work for you in order that you could enjoy ‘just for me’ moments? One of the biggest trends sweeping Japan presently, are instant detox diets and stress free weekends, in which high powered executives escape the maddening crowds of Tokyo for rural settings, in spiritual hotels, where they listen to light music, eat no food but drink green tea and mineral water. There isn’t a blackberry or mobile phone in sight. Selling rooms by the hour use to be about women of disrepute; however the Japanese-style Yotel in London’s Gatwick Airport offers luxurious and stylish cabins for rent for travellers with very early departures or who might have a long layover between flights, or are delayed for hours. Four hours in a standard cabin costs a very affordable £25 (£40 for a premium cabin). Here you can snooze the hours away comfortably and in style. A similar concept is found in the Vancouver Airport and New York’s; Empire State Building, where MetroNaps operate; an urban catnapping business. For $14 you can treat yourself to 20 minutes in their very futuristic (luxurious) looking sleep pods. The Poseidon 5 star hotel, built on the seafloor, off the coast of the Bahamas is ultimate in new experiences. Super luxury 7 star hotels in Dubai now charge visitors just for entering the hotel, as they are the new museums and attractions with some of the finest arts works in the world. Would you pay £100,000 for a 3 hour flight into outer space which includes 14 minutes of weightless? According to Virgin Galactic, 500 people have signed up for this exclusive experience? After that, the price drops for £25,000 as the experience becomes less exclusive. Today, luxury, is more fluid than in the past, making it accessible to everyone. Fundamentally luxury has broadened from materialism, to authenticity, tranquillity and well being. A survey by the London based consumer think tank, the Future Foundation, asked consumers what would be their No 1 luxury experience, the answer, surprisingly, was ‘time on my own’. This changing nature of luxury allows for Scottish tourism businesses to position their selves as luxury destinations, and harness the opportunity, to aid growth of the economic value of tourism, by 50% by 2015. Prof. Ian Yeoman Past features from invited key individuals commenting on aspects of scenario planning. |
