PROSPECTS AND OPPORTUNITIES
Positive outlook set to encourage further luxury hotel expansion
The outlook for experiential luxury in Germany is positive, with predictions for solid value growth (at constant 2024 prices) mainly driven by luxury hotels continuing to attract a return of international travellers. An increase in high-income tourists is expected in Germany over the forecast period, thus leading to higher spend on luxury hotels overall, and making it the most dynamic category within experiential luxury.
Operators set to increasingly focus on sustainable solutions
Sustainability is set to remain a crucial factor for luxury consumers when booking high-end hotels, travel experiences, and fine dining in Germany. Eco-friendly practices will gain emphasis in terms of actions and communications, as consumers, especially younger generations, seek out brands that align with their values.
Further technological advancements to offer more personalised and streamlined booking experience
Further advancements in augmented reality, virtual reality, and the metaverse will enable experiential luxury brands to provide virtual reality travel previews to consumers. Germany took a while to adapt to the digital world as consumers weighed the benefits and disadvantages of sharing personal data.
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Overview:
Understand the latest market trends and future growth opportunities for the Experiential Luxury industry in Germany with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Experiential Luxury industry in Germany, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Experiential Luxury in Germany report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Experiential Luxury in Germany?
- Which are the leading brands in Experiential Luxury in Germany?
- How are products distributed in Experiential Luxury in Germany?
- How important is tourism in evaluating demand for Experiential Luxury in Germany?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
- Where is future growth expected to be most dynamic?
Experiential Luxury in Germany - Category analysis
KEY DATA FINDINGS
Ongoing pursuit of luxury experiences post-pandemic despite rising price pressures
Leading hotel groups look to further expand in Germany
Increasing digitalisation to improve the luxury experience
Positive outlook set to encourage further luxury hotel expansion
Operators set to increasingly focus on sustainable solutions
Further technological advancements to offer more personalised and streamlined booking experience
Luxury Goods in Germany - Industry Overview
Luxury goods in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
DISCLAIMER
The following categories and subcategories are included:
Experiential Luxury
- Luxury Foodservice
- Luxury Hotels
Experiential Luxury
This is an aggregation of Luxury Hotels and Luxury Foodservice.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Experiential Luxury research and analysis database.
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