Dual income earners splurge on once-in-a-lifetime unique experiences
Implications - Millennials are willing to splurge on something that will provide them with lasting memories. As a result, experiences that are adult-targeted, aiming for couples or friends who have some discretionary income and likely don't have to support a family, can be seen. This is the Millennial's conscious decision to forgo having children in favor of maintaining a carefree lifestyle in action; a decision that also enables more freedom in terms of spending habits.
Workshop Question - In what ways is your brand able to target consumers with discretionary incomes?
Trend Themes
1. Luxurious Festival Accommodations - More festivals are offering high-end accommodations to cater to well-off festival-goers.
2. Luxury Fitness Retreats - Health-conscious young travelers are seeking luxury retreat options to swap the party scene with yoga and pilates.
3. Luxe DINK Travel - Millennials are increasingly splurging on adult-targeted, unique experiences.
Industry Implications
1. Hospitality Industry - The hospitality industry has an opportunity to tap into the growing demand for high-end accommodations at festivals, as well as providing luxury options for health and fitness enthusiasts.
2. Travel Industry - The travel industry can target affluent millennials who are seeking unique and personalized experiences and who are willing to splurge on once-in-a-lifetime experiences.
3. Luxury Goods Industry - The luxury goods industry can market high-end products and services that cater to the growing high-end travel, festival and health/wellness trends.
7 Featured, 55 Examples:
397,108 Total Clicks
Date Range:
Mar 15 — Aug 16
Trending:
Warm
Consumer Insight Topics:
