The Modern Shift From Luxury Goods to Luxury Experiences

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What does “luxury” mean in 2016? At Chōsen, luxury and “luxury experiences” mean adventure, good nutrition, mindfulness, no stress and a fantastic community of family and friends. In short, luxury is about living an ideal lifestyle in a nurturing environment where we can become better versions of ourselves. But what does the rest of the world think?

 A global luxury travel trends report by Euromonitor International, released in December 2015, indicates that luxury travel has entered into a new stage where travelers are searching for “authentic” experiences that are meaningful.But why are people increasingly valuing experiences over products? According to luxury branding specialist The O Group, millennials are the most demanding luxury consumers yet, employing experiential travel for personal discovery and growth rather than as a show of wealth. That approach is not limited, however, to the new generation of discerning adults: across all demographics, experiential luxury is increasingly in vogue.Fly in whatever class you wish, stay at five-star resorts if you prefer,and eat at every fine-dining restaurant in the Michelin Guide, but your travels will be so much more rewarding if you interact with local people, participate in authentic cultural experiences, watch artisanal products being made before you purchase, and dine at local restaurants, learning the stories behind the fabulous dishes you enjoy. The gap between the luxurious and the local, between material comfort and personal enrichment,is closing. The major reasons why we travel, after all,are to meet new people, to explore and learn, and ultimately to better ourselves. The days of seeing travel as an escape, where we hide away by the private pool of a luxury resort, are over. Today we want anecdotes, face-to-face encounters and cultural advancement to add meaning and depth to our travels. The Chōsen lifestyle embraces experiential luxury travel, with five-star venues in beautiful locations worldwide. A Chōsen program features a new itinerary every day, so you explore other cultures while pushing your personal boundaries, balance exertion with mindfulness, dine on nutritious local cuisine and savor the company of like-minded people. We’re not suggesting you to stop shopping or throw away that chic TUMI roller-suitcase (it will be fantastically useful on your journeys ahead), but the fact that smart folk are increasingly purchasing experiences rather than objects is telling. After all, what’s more empowering, “to possess” or “to live”? Is the ownership of products more important than sharing fabulous experiences and creating memories that will last a lifetime? Further reading:Peak + Sift present: The Rise of Experiential TravelBCG Perspectives: Shock of the New Chic: Dealing with New Complexity in the Business of LuxuryLuxury Society: Experiential Ownership: Luxury’s New Challenge? 

TravelChosen Team