Forecast For Luxury Travel Through 2010 Trend Report

Published by: Unity Marketing Inc.

Published: Nov. 2, 2009 - 97 Pages

Table of Contents

Chapter 1— Introduction: Forecast for Luxury Travel through 2010

Special Investigation: Luxury Consumers and their Travel Plans through 2010

Quantitative research methodologies

How the Recession Has Impacted the Luxury Travel Market

Luxury travel purchase incidence from 2007 to1-3Q2009

Amount Spent on Luxury Travel from 2007 through 1-3Q2009

Figure 1: Travel Spending by Demographic Segment 2007-2008

Foreign Travel Choices

Figure 2: Type of Foreign Travel Bought

Domestic Travel Choices

Figure 3: Type of Domestic Travel Bought

Luxury Hotel Brand Preferences

Figure 4: Luxury Hotel Brand Purchases

>>Luxury Marketers: Take Action

Travel Plans through 2010

Expectations of Business Travel

Figure 5: Number of Business Trips Planned through 2010

Trends in Business Travel

Figure 6: Trends in Business Travel through 2010

>>Luxury Marketers: Take Action

Figure 7: Business Travel Experiences Expect More, Same, Less through 2010

Figure 8: Trends in Business Travel Spending through 2010

Expectations of Personal Vacation, Leisure Travel

Figure 9: Number of Personal Trips Planned through 2010

Personal Travel Experiences Planned

Figure 10: Personal Travel Plans through 2010

Expected Spending on Personal Travel

Figure 11: Expected Personal Travel Spending through 2010

Trend in Spending on Personal Travel

Figure 12: Trend in Personal Travel Spending through 2010

>>Luxury Marketers: Take Action

Figure 13: Trends in Business & Personal Travel through 2010

What Factors Are Most Important When Selecting Hotels for Personal Travel

Figure 14: Features Most Important When Selecting Hotel Room for Personal Travel

>>Luxury Marketers: Take Action

Most Desired Travel Experiences & How They Select Destinations

Personal Travel Experiences Most Desired

Figure 15: Most Desired Travel Experiences, Index 2006 & 2009

Figure 16: Most Desired Travel Experiences by Demographic Segment

Factors Influencing Personal Travel Decisions

Figure 17: Features Influencing Personal Travel Decisions

>>Luxury Marketers: Take Action

How They Plan to Book their Next Personal Travel Experience

Figure 18: How Next Personal Travel Experience will be Booked

Figure 19: Travel Booking by Online, Direct, Travel Agent

>>Luxury Marketers: Take Action

Foreign Destinations Affluents Plan on Visiting through 2010

Figure 20: Top Destinations for Foreign Visitors through 2010

Figure 21: Detail of Travelers' Plans by Continent and Country Listings

Prospects for Luxury Travel Through 2010

>>Luxury Marketers: Take Action

>>Luxury Marketers: Take Action

How affluents get their biggest luxury kicks - From luxuries for their homes, their person or those they experience

Figure 22: Source of Greatest Luxury Satisfactions (2009 & 2006)

Demographic distinctive

Figure 23: Source of Greatest Luxury Satisfactions by Age (2009)

Figure 24: Experience as Source of Greatest Personal Satisfaction by Generation (2009)

>>Luxury Marketers: Take Action

Chapter 2 — Luxury Tracking Study Topline Findings

Affluent Consumers Come Roaring Back - At Least Some of Them - as Consumer Spending on Luxury Rises Sharply

Figure 25: Luxury Consumption Index

Recovery? Whoa! More like re-alignment of expectations

Luxury Consumers’ Feelings of Financial Well-Being

Figure 26: Feelings of Financial Well-Being

Spending Trends on Luxury In Past Twelve Months

Figure 27: Trends on Spending on Luxury in the Past Twelve Months

Luxury Consumers' Future Spending Expectation

Figure 28: Trends in Spending on Luxury in the Coming Twelve Months

Confidence in Financial Health of Country

Figure 29: Financial Health of the Country

Financial Prospects in Next Twelve Months

Figure 30: Financial Prospects Next Twelve Months

Investments and Savings in the Current Quarter

Figure 31: Trends in Saving and Investing Now Compared with Twelve Months Ago

Investments and Savings in the Coming Year

Figure 32: Trends in Saving and Investing in Coming Twelve Months

Ways Affluent Consumers Are Changing their Lifestyles

Figure 33: Changes in Luxury Consumer Lifestyles

Prospects for Holiday Gift Spending, Christmas 2009

Figure 34: Spending Trends Holiday Gift Giving, Christmas 2009

Total Luxury Purchase Incidence

Figure 35: Overall Luxury Purchase Incidence (All Affluent Consumers)

Key Finding: Implications For Marketers on Purchase Incidence

Luxury Purchase Incidence

Figure 36: Luxury Purchase Incidence

Luxury Consumers’ Average Spending on Luxuries

Figure 37: Average Spending on Luxuries

Fastest Growing Major Product Categories by Percent Change in Spending

Figure 38: Major Categories by Percent Change

Spending by Income Segment

Figure 39: Luxury Spending by Income Segments (current quarter and same period year ago)

Total Spending by Age Segments

Figure 40: Total Spending on Luxury by Age Segments -- Young Affluents and Over 40 Year Olds (Current period and same period

previous year)

Total Luxury Spending by Gender

Figure 41: Total Spending on Luxury by Gender (Current period and same period previous year)

Trends in Spending by Key Demographic Segments

Figure 42: Trends in Spending on Luxury by Demographic Segment (Age, Gender, Income)

Trends in Spending by Demographic Segments in Major Luxury Categories

Figure 43: Home Luxury Spending Trends by Demographic Segment

Figure 44: Personal Luxury Spending Trends by Demographic Segment

Figure 45: Experiential Luxury Spending Trends by Demographic Segment

Where Luxury Consumers Shopped for Their Luxury Goods

Home Luxury Goods

Figure 46: Favorite Shopping Destinations for Home Luxury Goods Shoppers

Personal Luxury Goods

Figure 47: Favorite Shopping Destinations for Personal Luxury Goods Shoppers

Luxury Shoppers’ Favorite Department Stores

Figure 48: Store Brand Usage for Any Luxury Shopping

Appendix A: Luxury Tracking Survey Methodology

Quarterly Tracking of Luxury Consumer Purchasing

Luxury Travel through 2010 Was investigated in More Depth

Sample Demographics

Income Demographics

Figure 168: Income Demographics

Gender

Age Distribution

Figure 169: Age Distribution

Generations

Figure 170: Generations

Other Demographic Variables

Figure 171: Employment

Abstract

Contained in this new Unity Marketing luxury trend report, Forecast for Luxury Travel Through 2010: A Luxury Trend Report , are essential facts and figures that will give direction to luxury marketers servicing the luxury travel sector:

• How the recession has impacted the luxury travel market, including a review of luxury travel through 3Q2009, such as trends in spending, foreign and domestic travel choices, hotel brands favored by luxury travelers;
• Business travel expectations, including number of business trips planned, trends in travel days and travel spending, and trends in business travel experiences including what services business travelers will demand more of through 2010;
• Personal travel expectations, including number of personal trips planned and amount budgeted for travel, type of experiences planned, including luxury resorts, cruises, etc., trends in personal travel spending, and planned foreign destinations.

Luxury travel providers will find the sections of the report that explore what influences the luxury traveler in selecting destinations and travel providers especially valuable, as it helps brands identify strategies to connect more effectively with their target market. The survey studies :

• Hotel features and services that most strongly influence the affluent traveler in selecting a hotel brand, such as the relative importance of concierge services, turn down services, room upgrades, etc.
• The types of travel experiences desired, such as relaxation and stress-reduction experiences and fine dining/food and wine experiences, are rated and compared with results from 2006. The report also rates for which segment of the personal luxury travel market these experiences are more important. For example, women are more highly motivated by relaxation experiences, while men are more drawn to cultural and romantic experiences.
• Factors that influence the luxury traveler in picking a destination. For example, whether they are more drawn to visiting new places and having new experiences or they would rather return to a favorite destination that has treated them well in the past. The study also explores the relative importance of loyalty rewards program in attracting the personal luxury traveler.
• How luxury travelers will book their travels. The findings reveal a key opportunity for luxury travel providers to enhance the travel experiences for the affluent luxury traveler.

"This trend report is written specifically for travel marketers that want the most up-to-date and salient facts about the luxury travel market. It will help them understand the trends in the current market and ways they can find new opportunities in serving the luxury traveler. It provides an invaluable supplement to a company's own internal customer data by filling the holes and gaps about potential target segments not captured by internal company sources. It doesn't overwhelm the busy executive with a lot of excess baggage, but presents them with the facts and figures they need to make informed decisions," Danziger concludes.

Also included with the new luxury trend report, Forecast for Luxury Travel Through 2010: A Luxury Trend Report, is the executive summary of the 3Q2009 luxury tracking study which details overall trends in spending in the 22 categories of luxury products and services measured in the Unity Marketing quarterly survey.

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