IS “NICHE” THE NEW LUXURY?
May 2017

At 78Madison we handle the marketing for many luxury hotels and resorts around the country and world. And at a time when the upscale travel industry seems to be constantly evolving, it appears that travel advisors can no longer rely on broad sweeping definitions of “luxury travel”. Experiences that were once considered luxurious and indulgent in the past are today becoming quite main-stream in the travel industry, forcing the industry to rethink and reinvent the idea of lavish vacationing. Growth of the overall luxury market is at play as well, noting a recent Amadeus Travel Intelligence Report that predicts a 10-year growth rate of 6.2% for luxury travel, inspiring more innovation that will separate true, custom luxury from simplified upscale experiences that can be offered in masses.

So what does this mean for the luxury travel market today and moving forward? To put it simply, we believe luxury is becoming increasingly subjective, especially given the growing importance to travelers of personalized experiences – and the result is that niche experiences are coming into the spotlight. Hotels, cruise lines, private rental companies, tour operators and other top-tier travel providers have all taken note, and are offering an increasing range of pre-packaged and customizable opportunities that speak to travelers’ particular tastes, whether it be for food, wine, craft beer, music, art, nature, technology, fitness or just about anything else.

For travel advisors, these niche experiences represent a valuable opportunity. Not only are they a way to craft authentic upscale experiences that are exactly tailored to each client, but they also offer a way for agents to distinguish themselves within a rapidly expanding marketplace. When it comes to luxury travel in particular, specialization gives agents the precise knowledge they need to cater to an increasingly exacting clientele, and also helps advisors meet the growing demand for one-of-a-kind vacations.

However you look at the modern luxury travel market, one thing is becoming abundantly clear: It’s time to go niche.

I would love to know your thoughts.

Joe Bouch
CEO 78Madison

78Madison is a full service marketing communications firm (advertising agency) located in Orlando Florida (Altamonte Springs Florida).

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