This year the luxury retailer Neiman Marcus is selling a space trip in their catalogue that includes a spectacular view of Earth and the chance to feel to experience weightlessness. The space charter for you and five of your best friends costs $1.76 million and includes medical assessments, training, a ride on the Virgin Galactic spaceship and an after-party at Virgin boss Sir Richard Branson's private-island retreat in the Caribbean. (GUSH Magazine)
Implications - For consumers fortunate enough to live their lives based on a disposable income, high-end luxury products are the most appealing. Exclusivity and status are two qualities in products to which this particular group of individuals is highly attracted, and businesses can benefit from catering to this demographic.
What's Driving This Trend
- Luxury Space Tourism
- Opportunity for companies to offer ultra-high-end space travel experiences for the elite, creating a new market for luxury space tourism.
- Exclusive and Customized Travel Packages
- Creating exclusive travel packages with customized experiences targeting affluent customers looking for unique and personalized travel experiences
- Experiential Products for High-net-worth Individuals
- Opportunities exist for businesses to focus on creating unique, memorable, and exclusive experiences for high-net-worth individuals who value uniqueness and exclusivity.
Who This Affects Most
- Luxury Travel
- Luxury travel industry can capitalize on the trend of ultra-high-end space travel experiences and cater exclusively to affluent customers with unique and exceptional travel experiences
- Hospitality and Event
- Hospitality and event management firms can create exclusive, customized space-themed events and experiences to cater to high-net-worth individuals looking for exclusive and private events.
- Space Exploration Industry
- Space exploration industry players can explore this relatively new market of ultra-high-end space tourism and create unique and exclusive experiences for affluent customers.
