Gen Z + Luxury = Travel

Gen Z is rewriting Luxury’s Rules! Why Isn’t Hospitality Pampering Them?

They’re not just the future of luxury; they’re transforming its very essence. The BCG report reveals that this generation is expected to account for a large and increasing share of the luxury goods market, with their spending projected to almost double by 2026. Gen Z seeks authenticity and meaning in their luxury experiences. They value immersive encounters that resonate with their values and aspirations.

There’s a notable gap in offerings tailored to Gen Z’s preferences, leaving a significant opportunity for innovation. They are regularly introduced to luxury brands through their parents, but this generation is not moved by old luxury with sixteenth-century tapestry and canopy beds. They are more interested in technology and sustainability instead.

To capture this segment, luxury brands need to develop a true luxury experience (not talking about Moxy or Hoxton) tailored to their needs. It will give them a first taste and create a long-lasting bond with the chain, empowering them to navigate within the portfolio of brands later on.

This process is not new and already used in different industries; banks are known for securing Ivy League candidates with student loans, knowing they will have large spending behavior down the road.