Luxury Trends – 20 Crucial Trends to Watch in 2024 (Part 2)

11. Owning The Customer Experience

When it comes to luxury trends in fashion, one of the most important ones brands must capitalize on is owning the customer experience from beginning to end. As Save My Cent details, 60% of consumers expect excellent customer service when making luxury purchases, and 78% of customers expect to get a high-quality product that lasts. Every touchpoint, from the luxury website to the post-purchase email, should have one goal in mind: to convert, and delight, the consumer and provide the best customer experience possible.

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12. Effortless Luxury For The Win

Effortless luxury is one of those luxury trends that can be carried over from the product area of the sector to the marketing area. It’s no-frills luxury that feels natural in your life. If your fashion brand is owning the effortless luxury aesthetic in its products, own it throughout every aspect of your marketing, too. Social media, email marketing, photography, copywriting—it should all be cohesive and embody the effortless luxury essence.

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13. Emphasizing Experience

When looking at luxury trends in the hospitality industry, a key trend to look into is emphasizing experience. Luxury tends to capitalize on exclusivity, but it should also focus on the experience that exclusivity brings to the table. If people are shelling out cash for luxury hospitality, they’re going to expect a wonderful—and personalized—experience. Focusing on the experience can also work for marketing tactics. Crafting messages that emphasize the experience of luxury hospitality, instead of, say, the perks, can help you reach a new audience through emotion.

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14. Eco-Conscious Hospitality

One of the biggest emerging luxury consumer trends to watch across all industries is eco-consciousness. Sustainability and eco-consciousness is increasingly on consumers’ minds, and as such, luxury sectors need to align their values with consumers’ values if they want long-term customers. When it comes to luxury hospitality, think of ways you can actively enact—and promote—sustainable practices. Strategies include reducing plastic use, using recycled or upcycled furniture, making a pledge to reduce carbon emissions, and buying ethically sourced hospitality products.

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15. Customers Being the Main Focus

In jewelry marketing, always make the customer the focus. Luxury jewelry is often marketed as luscious, exclusive, and high-quality—meaning it also comes with a higher price. Consumers today aren’t just looking for buzzwords that emphasize a product, though. They’re looking for messaging and services that focus on them, and even create a sense of community with their fellow luxury shoppers. If you’re in the luxury jewelry industry, evaluate your messaging and services and see where you can be more customer focused.

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16. Tapping Into Niche Markets

Exploring niche markets benefits luxury jewelry products and their marketing. A niche market targets a specific consumer segment with distinct preferences within a larger market. This strategy allows luxury jewelry brands to focus on particular products or exclusive categories, such as sustainably sourced jewelry. By honing in on these specialized segments, luxury brands can create more effective and personalized marketing strategies.

17. Consumer-Focused Tech

One of the biggest luxury consumer trends to watch in retail is the continued emergence of consumer-focused tech. According to a recent study by McKinsey & Company, 85% of luxury consumers expect brands to use personalization technologies to offer a more relevant shopping experience. Leveraging technology such as videos, NFTs, and ethical behavioral data positions luxury retail brands to strengthen consumer relationships and lead in innovation.

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18. Marketing Through Storytelling

Another trend to look at on the marketing side is to market your luxury retail brand through storytelling, and even brand storytelling. Brand storytelling is a powerful strategy that, when done right, demonstrates brand value while simultaneously building a community of consumers who share similar values. Luxury retail brands can use their brand storytelling (and general storytelling) chops to create effective and powerful marketing campaigns. This strategy helps your brand stand out in a sea of digital content, fosters better relationships with your consumers, and demonstrates your brand value in an engaging and authentic way.

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19. Eco-Conscious Travel

Sustainability and eco-consciousness are at the forefront of many industries right now. According to Forbes, the luxury sector is already adapting to new sustainable practices, like changing shipping strategies to reduce its carbon footprint. With a growing focus on sustainability, environmentally conscious Millennials and Gen Z shoppers are driving the luxury market. They currently represent around 30% of all luxury consumers, and this number is poised to reach 50% by 2025. That’s why one of the key luxury trends to watch in luxury travel is eco-conscious travel.

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20. Solo Travel

Solo travel has seen an increase over the last few years. According to Statista, solo trips continue to be a growing tourism trend, influenced by the lockdowns of the COVID-19 pandemic. When identifying luxury trends to watch, luxury travel brands should look to capitalize on solo travel. Creating content that targets solo travelers, crafting paid ad campaigns that target solo travel keywords, and creating a new section on your website dedicated to solo travel can help you reach this growing market segment.

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