Luxury Travel Experiences in Asia Make the Locale a Top Escape

[Simon Hopes]

Luxury can be defined in various ways. However, when you look at travel data, luxury means the ultimate in comfort, especially when booking a hotel package. While a great deal of attention is paid to the power of spending, luxury purchasers also care about exclusivity and quality. For instance, buyers in Singapore and Hong Kong often define luxury at a higher price point.

What the Research Reveals

According to statistics compiled by Agility Research and Strategy, not all luxury consumers are the same. The research firm states that its surveys reveal that the perception of luxury varies in different markets. For example, luxury buyers in China define luxury as being synonymous with quality. In other locales, staying in a luxury hotel is considered a sign of status and prestige. That is why luxury travel experiences in Asia must continually be tracked.

Families in China with incomes of almost $30,000 USD or more are considered, for research purposes, to be luxury buyers. Data gatherers emphasized that the seeker of exclusivity is usually someone who has a large disposable income while the indulgent traveler likes to splurge on items at airports – primarily on watches or jewelry. Each of these buyers likes accommodations that are not only exclusive but which represent the ultimate in style and taste.

The Use of Psychographic Data

Today, companies are able to use psychographic data to assist them in fine-tuning their marketing strategies so they can target just the right travel consumer. For example, someone who likes exclusivity in a hotel property is seeking a type of luxury that represents better quality, while an indulgent luxury traveler likes to stay in hotels with brands that are easily recognized. These consumers often rely on sites like Luxuryhunt.com to find what they are seeking in elegance and luxury.

Researchers have found out that Hong Kong has the highest number of indulgent luxury travelers while the mainland of China has more seekers of exclusivity. The wealthy travelers from Singapore like to seek bargains related to luxury. When respondents in surveys were asked to define luxury, the results showed that Hong Kong and Singapore-based their definitions more on expense rather than brands.

Young Buyers of Luxury Products

Research has identified that Generation AAA is composed of up-and-coming affluent consumers, who range from 18 to 34 years of age. They are called AAA because their aspiration for brands shows they are both ambitious and affluent. This kind of drive signals that this age group is destined to become part of the future’s wealthy class.

At this time, AAA purchasers have the ability and desire to buy products and services that are considered mid-to-premium in quality. Therefore, this segment represents a very influential part of the middle class. People in this group spend most of their money on jewelry, air travel, fashion, technology, and stays at hotels. You can find these kinds of offerings on sites such as Luxuryhunt.com.

According to data, almost 70% of the younger consumers wish to experience exclusive luxury brands before they actually buy a product and just over 60% want to ensure that the brand they purchase is a socially responsible selection. By comparison, about 55% of survey respondents believe it is necessary to recognize the brand.

Therefore, the interest in luxury travel experiences in Asia plays a major rol.... That is underscored by the fact that 57% of consumers buy items while traveling – items that they can often purchase duty-free