There is a growing tendency among consumers to believe they are entitled to have it all, and to live life by consuming what we might call ‘luxury-snacks’. As Yeoman and McMahon-Beattie point out luxury has now become so democratic that it is ubiquitously for rent. You can rent a luxury car from Avis, but how about renting the latest couture and designer handbags from . Bag Borrow or Steal was first to market offering the concept of borrowing luxury products and is leading a revolution in the way consumers shop for designer goods or gain access to exclusive events/lifestyles.

How much would you pay for a designer hand bag for one or two night’s usage? You would probably have to pay a premium to use it on Saturday night. ‘Quintessentially’, an international concierge service and members’ club, offer customers access to first class airport lounges, designer fashion shows, nightclubs and exclusive events. How much would you pay for ‘closed to the public’, a membership fee ranging between £750 and £2,500? You can rent a Ferrari or Aston Martin car for an evening from the Classic Car Club.

The idea of luxury renting enables customers to ‘access the inaccessible’. For both emotional and practical reasons consumers are, on the margins, rejecting owning products in favour of renting them. This development indicates a shift in the consumer mindset towards the ownership of possessions and luxury items. Renting allows consumers to sporadically dip into the luxury lifestyle without paying the full (unaffordable for most) price for the privilege. Fractional living like this gives them a chance to adopt an alternative, more glamorous and stylish persona for a short period of time and indulge in celebrity lifestyle – all on a budget.

Consumers across the world are wishing for less stress and more relaxation. How much would you pay someone to do your work for you in order that you could enjoy ‘just for me’ moments? One of the biggest trends sweeping Japan presently, are instant detox diets and stress free weekends, in which high powered executives escape the maddening crowds of Tokyo for rural settings, in spiritual hotels, where they listen to light music, eat no food but drink green tea and mineral water. There isn’t a blackberry or mobile phone in sight.

Selling rooms by the hour use to be about women of disrepute; however the Japanese-style Yotel in London’s Gatwick Airport offers luxurious and stylish cabins for rent for travellers with very early departures or who might have a long layover between flights, or are delayed for hours. Four hours in a standard cabin costs a very affordable £25 (£40 for a premium cabin). Here you can snooze the hours away comfortably and in style. A similar concept is found in the Vancouver Airport and New York’s; Empire State Building, where MetroNaps operate; an urban catnapping business. For $14 you can treat yourself to 20 minutes in their very futuristic (luxurious) looking sleep pods.

The Poseidon 5 star hotel, built on the seafloor, off the coast of the Bahamas is ultimate in new experiences. Super luxury 7 star hotels in Dubai now charge visitors just for entering the hotel, as they are the new museums and attractions with some of the finest arts works in the world. Would you pay £100,000 for a 3 hour flight into outer space which includes 14 minutes of weightless? According to Virgin Galactic, 500 people have signed up for this exclusive experience? After that, the price drops for £25,000 as the experience becomes less exclusive.

Today, luxury, is more fluid than in the past, making it accessible to everyone. Fundamentally luxury has broadened from materialism, to authenticity, tranquillity and well being. A survey by the London based consumer think tank, the Future Foundation, asked consumers what would be their No 1 luxury experience, the answer, surprisingly, was ‘time on my own’. This changing nature of luxury allows for tourism businesses to position them selves as luxury concepts and gain access to a once exclusive market.

Ian Yeoman’s new book, tomorrows tourist discusses what the future tourist will look like in 2030, where they will go on holiday and what they will do. Be aware, you might not like reading it.

Ian Yeoman
Victoria University Management School | Victoria University
00 64 (0) 4 463 5717
Tomorrows Tourist