What True Luxury Looks Like Today
We often jump to material goods like designer luggage, watches, and vehicles when we think of luxury. However, in the world of VIP perks, luxury encompasses far more than material items. It’s a whole way of living and experiencing the world, with an entirely different level of treatment than the average person would receive.
But how did this shift from possessions to experiences happen? We can trace it to shifting consumer demands and brands seeking to stay relevant and ahead of the curve. Modern luxury meets—and exceeds—these demands through exclusive offers and experiences both online and in person. Only a select few have access to these offers from brands.
The Shift from Possessions to Experiences
Although luxury industries now prioritise experiences, they are still driven, in part, by brands that offer physical items. As consumers have increasingly adopted online purchases, this has posed a hurdle for luxury brands because their customers still receive high-quality products but miss out on traditional luxury experiences. Brands have adapted how they present themselves to craft unique experiences and offer select customers perks to continue to set themselves apart and deliver an air of lavishness and exclusivity even through an online experience. For instance, they use new technologies to craft personal offers and recommendations and leverage augmented and virtual reality to shape a more unique and personalised experience.
Brands have also adapted by creating in-person experiences that can compete with the ease of shopping online, and part of this appeal is that the experience may not be focused on shopping. Instead, it’s about creating a memorable, immersive event that connects customers with the brand. Luxury brands entice customers with celebrity-hosted events, private screenings, and exclusive product previews.
Even traditional luxury experiences have evolved to remain prestigious. This has led luxury travel and hospitality brands to reach new heights in how they pamper clients. Where materials and finishes would have defined luxury in the past, hotels, airlines, and other modes of travel are now embracing a new definition of luxury—one that prioritises the quality of service their clients experience.
While quality materials are still present, luxury today prioritises experiences over gold-plated finishes, crystal chandeliers, and an expansive use of marble. Instead, it’s about creating memories and anticipating every possible want and need. Like online experiences, luxury brands personalise every interaction.
These shifts appear in exclusive brand offerings, not those available to the general public. These novel experiences and opportunities are reserved for the VIPs who make frequent purchases from luxury brands, elevating the notion of loyalty reward programs to a whole new level.
Modern Luxury Perks for VIPs
Exclusivity and personalisation converge for VIPs in the perks businesses offer them. These perks cater to high rollers who spend as if money is no object, making many of these out of reach for most people. You’ll likely recognise parallels between these perks and those offered by most loyalty reward programs, like those from a major department store or clothing brand. These ways of connecting with customers are highly effective marketing strategies for luxury and budget brands alike.
Early and Priority Access
VIPs are given priority access to experience new offers, from art shows and fashion shows to newly constructed luxury hotels, while being wined and dined. It’s not just being the first to access something, but also being the first to experience the full VIP treatment.
Discounts, Contests, and Promotions
Luxury brands offer their VIPs exclusive discounts, contests, and promotions such as private events, free trips, or concert tickets. This encourages customer engagement and creates opportunities for unique experiences that endear them to the brand.
Exclusive Merchandise and Gifts
While limited-edition merchandise is found across different businesses, luxury brands reserve limited-edition merchandise for their most prestigious customers. Additionally, these clients may have opportunities for personalised products tailored to their preferences and customisations to existing offers. For instance, Louis Vuitton allows VIPs to select the leather and lining material for a custom designer bag. VIPs at luxury brands may also receive gifts alongside their purchases, which are curated to complement and enhance the gift. For example, a jewellery box can be included with the purchase of a necklace.
VIP Lounges
VIPs at events like conferences, sports games, or concerts are provided with private access lounges. These lounges offer comfortable amenities, including food and drinks, and space where they can privately watch the action unfold or participate in meet-and-greets with keynote speakers, athletes, or artists. It adds extra personalisation and care to what may already be a thrilling experience, making it even more enjoyable and memorable.
Personalised Support and Seamless Convenience
From dedicated customer service to personal concierges and premium delivery for orders, some brands offer VIPs seamless convenience to make the customer service experience exceptional. For instance, VIPs of online gaming sites are offered financial flexibility. They enjoy increased limits and faster processing times, so their enjoyment of online platforms has as few disruptions as possible. While most people who game online might go looking for casinos that accept PayPal to maximise convenience around processing times and deposit limits, for VIPs, these concerns are barely a thought. The process of spending is made virtually frictionless.
The Future of Luxury
As with other industries, the luxury industry constantly changes as new trends and technologies emerge. Gen Z has particularly influenced the luxury industry as their purchasing power grows. The generation is driven by meaningful and personalised experiences, which means the emphasis on personalisation in luxury will only continue to be prioritised. But this isn’t the only factor impacting the future of luxury offers. Evolving technologies and shifting consumer values are impacting luxury industries as well.
Technology is creating new avenues for delivering luxury experiences through curated shopping, streaming, and entertainment platforms. It also delivers luxury tech products, like wearable tech from Gucci and Hermès, that add style, convenience, and functionality. AI will likely shape luxury experiences, streamlining personalised offerings and creating more immersive online experiences.
Evolving consumer values have increased demand for sustainable initiatives prioritising social responsibility and the environment. This will likely continue to influence how brands deliver their offers and experiences.
Modern luxury has shifted to deliver unique and lavish perks to VIPs. The cornerstones of making people feel pampered and spoiled—exclusivity and personalisation—are more prominent than ever, and their importance will only continue to grow.
