Trends in the luxury market

Trends in the luxury market

Like seismic waves after an earthquake, the reverberations of the pandemic have been felt long after its main event, leaving cracks in the economy and how we live in its wake. We investigate the lifestyle trends that have emerged among affluent and wealthy spenders in the aftermath.

From ‘revenge travel’ to gaming events and luxury cinema, many of the trends that are emerging among the affluent and wealthy as consumer behaviours evolved post-pandemic. With major geo-political events on-going, rising interest rates globally and increasing consumer awareness on climate change, even the wealthiest among us are considering their purchases wisely, opting to spend it on special, more luxurious experiences while making conscious everyday choices.

Ten’s travel and lifestyle service makes these experiences possible, and we’ve gathered insights from our base of affluent and wealthy members to present a curated collection of trends that span travel, dining, entertainment, and shopping. You can use this insight to tailor your strategy and offer your clients the unique experiences they’re after to drive loyalty, retention, and card spend.

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Who is the case study for?

Brands, private bankers, and wealth managers with a valued customer base, focused on mass affluent, high-net-worth wealth propositions. These insights will be of particular interest to those developing or reviewing their customer experience (CX) strategies, or to those undergoing procurement of lifestyle services (or concierge).

What questions does it answer?
  • How has Covid-19 recovery impacted trends in the luxury sector globally?
  • What trends are being seen amongst the UHNW, HNW and mass affluent consumers in the dining, entertainment and travel industries?
  • What should leading brands be prioritizing to account for these? 
  • How are lifestyle services used as a differentiator in CX strategies?
  • In what ways does Ten Lifestyle Group cater to these trends amongst its members?
Example sources from the paper
  1. Morgan Stanley Joins Chorus Expecting China to Open Spring 2023 – Low De Wei, Bloomberg

  2. The International Hotel Brand With More Michelin Stars Than Any Other – The Tasting Table

  3. How Covid Changed Business Travel Forever – Suzanne Rowan Kelleher, Forbes

  4. Five big takeaways from COP26 – Maxine Joselow, The Washington Post

To find out why now is the perfect time to invest in new CX strategies, read our thought piece from CEO Alex Cheatle on why interest rates are changing and so are customer strategies in financial services…

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