PROSPECTS AND OPPORTUNITIES
Experience is king: Customer preference for luxury, memorable experiences will boost the growth of experiential luxury over the forecast period
The post-pandemic landscape has shown a strong consumer inclination towards memorable luxury experiences, which is set to maintain retail current value growth for experiential luxury in the US in the forecast period. As consumers are willing to pay a premium for unique encounters, brands can capitalise on this trend by expanding into experiential offerings.
Wellbeing and sustainability expected to be the focus of new luxury hotel openings
Sustainability is becoming increasingly central to new luxury hotel developments across the US. For example, Thompson Miami Beach by Hyatt Hotels Corp is set to open in early 2025.
New openings in strategic locations will bring an additional boost to experiential luxury through cultural heritage and unique adventure offerings
Luxury hotels in the US are strategically focusing on locations that offer unique cultural heritage and adventure experiences. For example, the Baccarat Hotel in New York is set to expand its offerings with tailored experiences that include private art tours and exclusive access to local events.
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Overview:
Understand the latest market trends and future growth opportunities for the Experiential Luxury industry in USA 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 USA, 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 USA 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 USA?
- Which are the leading brands in Experiential Luxury in USA?
- How are products distributed in Experiential Luxury in USA?
- How important is tourism in evaluating demand for Experiential Luxury in USA?
- 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 the US - Category analysis
KEY DATA FINDINGS
Holistic experiences drive growth in luxury hotels, while luxury foodservice thrives with new healthy and personalised menu options
A successful brand evolution at the right time and place: Marriott International maintains its lead in experiential luxury
Customers look to regenerative travel options to make an impact
Experience is king: Customer preference for luxury, memorable experiences will boost the growth of experiential luxury over the forecast period
Wellbeing and sustainability expected to be the focus of new luxury hotel openings
New openings in strategic locations will bring an additional boost to experiential luxury through cultural heritage and unique adventure offerings
Luxury Goods in the US - 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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