100 Keyword Predictions 2023 | Luxury (71-80): Sleep, Remote Dining and Social Gym

WPP's brand Wunderman Intelligence released its latest trend report, which has a bright outlook for 2023. They predicted 100 keywords for 2023, and people are determined to fight against the ongoing difficulties with resilience, innovation and joy. This series shares 10 sections. The following is the eighth article in this series - luxury goods. I hope it will be helpful to everyone.

Continuing from the previous article "2023 Global Top 100 Trends Report":

• 1. Culture (01-10);
• 2. Technology and the Metaverse (11-20);
• 3. Travel and Hotel (21-30);
• 4. Brand and Marketing (31-40);
• 5. Snacks and drinks (41-50);
• 6. Beauty and Makeup (51-60)
• 7. Retail and Commerce (61-70)

Check out Part 8 today.

Chapter 8: Luxury goods

71. Crypto Club

What does a membership-based social club look like in the era of decentralization?

Friends With Benefits (FWB) has been called a “decentralized Soho House” and a “VIP lounge for crypto creatives.” The informal Discord chatroom has been transformed into an exclusive digital members club, valued at $100 million in 2022. Members must purchase a certain amount of $FWB tokens (the club’s cryptocurrency) to gain membership and unlock exclusive benefits and services.

According to the New York Times, members who hold one $FWB token can read the chat group's news and blog posts. If members hold at least five tokens, they can have limited access to FWB chat rooms and participate in limited offline events on the Discord platform. Holding 75 $FBW tokens (which cost about $4,000 as of November 2022) will gain global membership and access to all Discord chat rooms.

Lucky Ape Travel Club has launched a travel-inspired NFT series for crypto investors who are keen on traveling, which provides buyers with benefits such as room keys at luxury resorts, tickets to invitation-only events, or tickets to exotic tourist destinations.

In fact, it can be said that the club has transformed NFTs into virtual certificates for obtaining actual travel benefits. Anyone holding any NFT collection can get the opportunity to join the club for free. Members holding NFTs can enter a membership community with the theme of travel and cultural exploration. High-end brands are attracting a group of emerging high-end consumers in the crypto circle by providing crypto payment methods.

• Gucci announced in May 2022 that it would accept crypto payments for merchandise in its North American stores.
• Equinox's New York flagship store will also begin accepting cryptocurrency as a payment method for members starting in 2022. The luxury gym is also said to plan to promote cryptocurrency payments to other stores in the future.

Why you should watch this trend: The Metaverse has created a $50 billion revenue opportunity for the luxury goods market, according to a Morgan Stanley report. Membership clubs are going virtual to serve the growing influence of the cryptocurrency elite.

72. Rare and rare taste - rarity itself is a luxury

From ants foraged in the Amazon and wild rice harvested by hand to 15-year-old Champagne, companies are racing to capture the market with hard-to-find ingredients.

• Owamni by The Sioux Chef, a Minneapolis restaurant known for its “decolonized” menu that doesn’t use any ingredients introduced by European settlers, such as wheat flour, dairy products, and modern farm animals like chickens and pigs, was named a 2022 Best New Restaurant in America by the James Beard Foundation.
• Owamni serves Native American ingredients like blue corn, elk and bison, as well as a rare, hand-harvested wild rice called manoonmin. According to a New Yorker profile of the restaurant, manoonmin only grows near the Great Lakes and is tied to the history of the Ojibwa people, who migrated inland from the East Coast centuries ago in search of "food that grows in the water." Manoonmin harvesters still use ancient gathering methods, using canoes to beat ears of rice growing near the lake and then collect the knocked-off kernels.
• Alma Cocina Latina is a Venezuelan-owned restaurant in Baltimore whose bar features rare ingredients harvested from the Amazon rainforest. Its ingredients include lemon ants, which add citrus flavor to cocktails, and murupí peppers, which add heat to rum. According to Forbes, Alma Cocina Latina's ingredients come from an organization dedicated to preserving ancestral ingredients and dishes, and this "agricultural assistance" organization guides producers of these ingredients to build profitable businesses and avoid them making a living through illegal mining.

While Owammi and Alma Cocina Latina are partly motivated by advocacy for social justice and identity, other brands are primarily motivated by creating a luxury experience through scarcity. In fall 2022, Dubai-based Emirates Airlines is offering its first-class passengers an ultra-rare Champagne, Dom Pérignon Plénitude 2. Aged in the cellar for 15 years, Plénitude 2 has notes of lime and toasted minerals, with hints of dried apricot, apple, candied raspberry and fig. “It’s rich and full of character, powerful yet subtle, with a long, spicy and slightly savory finish,” the airline said. Why you should watch this trend: Some companies are adding rare ingredients to their products to stay competitive, and in some cases, to help support local farmers.

73. Luxurious Sleep

Premium brands across every category are turning a good night’s sleep into the latest luxury item.

Luxury brands are beginning to realize the potential of the sleep economy and are launching a host of new products and services based on it.

• Gucci has partnered with Oura, a Finnish health technology company, to launch a smart ring that monitors sleep in May 2022. The ring, which retails for $950, is made of black synthetic corundum and embellished with 18k gold - Gucci has taken its first step into the sleep market in this unique way.
• Retail brands are also tapping into the sleep market in the summer of 2022, with luxury retailer Selfridges launching a Sex & Sleep pop-up store. It offers a range of sleep-inducing herbal blends, essential oils and supplements for shoppers looking to optimize their sleep habits. In addition to the pop-up store, Selfridges also offers "sleep sessions" in its in-house cinema, where customers can take a nap and then continue to shop refreshed.
• Luxury travel brands are also tapping into this market, helping guests sleep peacefully after their stay. Rosewood Hotels & Resorts has also taken advantage of the sleep tourism trend and launched the Alchemy of Sleep experience in January 2022. Guests can choose from a one-night "Dreamscape" experience or a two- to five-night, more immersive "Sleep Transformation". These rest modes allow guests to immerse themselves in a state of meditation and tranquility, and they can also use these sleep-inducing methods at home.

Why you should watch this trend: Oura tells Wunderman Intelligence: “The pandemic has heightened health awareness across society. As we predicted at the beginning of the pandemic, every business has now become a wellness company. Premium brands are looking to establish a healthy corporate persona to attract high-end consumers who see sleep as the latest luxury investment.

74. Interstellar Luxury Style

Luxury brands are championing a spirit of adventure and curiosity, adding a touch of playful mystery to pragmatism.

Burberry launched the short film Night Creatures in October 2022, aiming to affirm "curiosity and the power of exploring the unknown". The short film tells the story of three protagonists encountering an extraterrestrial sci-fi creature. The film, which was completed in collaboration with creative studio Negaforce, has the style of a fairy tale and spans the space of known reality and imagination. Megaforce said: "We want to express the attitude needed to explore the unknown world: a bold and fearless yet playful spirit of adventure." Gucci is also exploring the unknown world. It debuted a "galactic" style "Gucci Creation Star" (Cosmogonie) series show in May 2022.

• The brand said the show was inspired by "mysterious encounters and mythical places" and was held at what Gucci director Alessandro Michele called "a stargate between heaven and earth."
• The show was inspired by "zodiac metaphors," which Michele described as "previously unknown structures of reality that break free from traditional constraints."
• Michele said the show was about "connecting the fragments of a world that were otherwise scattered. I was looking for a place that was magical and mysterious, where I could get lost."

Why you should pay attention to this trend: Luxury brands are pushing the boundaries of reality and finding inspiration in magical and mysterious subjects. After prioritizing pragmatism and adopting a restrained, serious tone over the past two years, luxury brands are now showing a spirit of exploration and curiosity. Michele told Women's Wear Daily: "Fashion speaks. It's not the exclusive language of the elite, it talks about life. It's a mirror that reflects reality."

75. New retail model for luxury goods: The luxury retail model is undergoing a major reshuffle

In August 2022, online luxury market Farfetch reached a groundbreaking deal to acquire a large stake in rival Yoox Net-a-Porter, aiming to create an e-commerce giant in the luxury industry. The deal, which is expected to close by the end of 2023, reflects the future trend of mergers in the luxury e-commerce sector.

Johann Rupert, chairman of Yoox Net-a-Porter's parent company Richemont, said the move was an important step towards "building an independent, neutral luxury online platform."

A few months ago, in April 2022, Farfetch and NeimanMarcus Group, the largest omnichannel luxury retailer in the United States (whose luxury department store brands include Neiman Marcus and Bergdorf Goodman), announced a strategic partnership "to advance the transformation of the integrated luxury retail industry."

José Neves, founder, chairman and CEO of Farfetch, said: "This partnership will completely change the landscape of the global online and offline luxury industry by integrating NMG's iconic business in the United States and Farfetch's luxury new retail vision and technology." Under this cooperation agreement, NMG will obtain Farfetch's e-commerce and technology to transform Bergdorf Goodman's website and mobile application. The COVID-19 pandemic has pushed the online shopping model to a climax.

According to a 2022 report from the U.S. Census Bureau, e-commerce sales increased by 43% in 2020. This shift, coupled with competition from third-party e-commerce sites such as Amazon, has prompted luxury brands to rethink their strategies. In October 2022, Amazon partnered with second-hand retailer What Goes Around Comes Around to sell second-hand goods from many luxury brands that refused to sell on Amazon.

“I believe the U.S. luxury market has reached an inflection point,” Neves said. “The U.S. is a recognized long-term source of growth for the luxury industry because of its highly loyal young consumers, but companies will still have to significantly upgrade their digital capabilities – supporting the customer journey both online and offline – to meet the expectations of these new customers and stay ahead of the competition in the coming years.”

Why you should watch this trend: With the death of the luxury department store (see item 68 in the Top 100 Trends for 2020) and the restructuring of department stores (see item 66 in the Top 100 Trends for 2022), luxury large retailers are pooling resources to explore new areas of development. As brands enter a new era of retail, expect to see a more fluid approach to brand collaborations between luxury retailers in the future.

76. Social Gym – The latest trendy gathering place is part high-end gym, part social club.

Dedicated spaces designed to promote social interaction and wellness are emerging in the market to meet consumer demand for healthy communities and access to holistic health care.

Remedy Place, a self-described “social wellness club,” opened in New York City in September 2022 and champions a new sober, wellness-focused social concept.

• “It’s a temptation-free, toxin-free club that’s both physically fit and social,” Dr. Jonathan Leary, founder of Remedy Place, told Vogue. “It’s about self-care and social self-care.”
• The club also offers ice baths, a meditation room, guided classes, saunas, acupuncture, vitamin IV suites and more.

In Los Angeles, Heimat offers a new space designed to allow people to enjoy a wellness experience in a social setting.

• In addition to offering a gym and fitness classes, this private fitness and lifestyle club also provides members with services such as a rooftop swimming pool, boot camp studio, Michelin-starred restaurant and spa.
• Heimat provides an intimate, luxurious environment to promote wellness clientele to connect, rest and rejuvenate.

In September 2022, OG social club Soho House deepened its fitness offerings with the launch of the vegan, cruelty-free Soho Skin skincare line. Made with scientific ingredients used in top beauty treatments, the products are free to customers at select Soho House stores and are now available in Bloomingdale’s, New York. Why you should pay attention to this trend: Consumers are engaging in a social self-care routine. “The most important part of self-care is human connection,” Dr. Leary tells Vogue. “People need genuine connections.”

77. Comfort First Class Menu – First class menus are providing people with delicious feel-good food

During the pandemic, many people have turned to healing foods, turning to family recipes, food shows and blogs to help them regain their sense of peace of mind. As countries ease travel restrictions, some airlines are adjusting their first-class menus to offer dishes that make people feel good and warm.

• In August 2022, Delta Air Lines began serving its first-class passengers Southern healing food developed by Mashama Bailey, the James Beard ("Oscars of the Food Industry") "Best Chef in America 2022."
• The first-class menu is from Bailey's The Grey restaurant in Savannah, Georgia, and includes: halibut and oysters with fumé blanc, green apples, potatoes, cabbage and carrots, short ribs with carne asada and smoked kale, and vegetable tagine with roasted sweet potatoes drizzled with chermoula sauce. Desserts on the menu include buttermilk cornmeal tres leches with candied kumquats and mandarins.
• “We have dishes that resonate with people who are far from home,” Bailey told Food & Wine magazine. “It’s a menu for people who are looking for comfort and a good feel.” In Delta’s premium cabins on international flights, passengers can also build their own sundaes topped with maraschino cherry preserves, chocolate sauce and cookie crumbs.
• Singapore Airlines has added menu items from California's Golden Door wellness retreat, where the luxury spa's executive chef Greg Frey Jr developed a portobello mushroom "meatball" served with a vegetable broth risotto that's both comforting and filling. "It's just such an incredibly satisfying experience where you get all the umami flavors," Frey told CNBC. "The great thing is you don't get that 'Ah, I don't want to eat meatballs anymore' an hour later."

Why you should watch this trend: As people start flying again, airlines are working to lure customers to first class, where they can generate the most profit, with comfort touches like appetizing menus.

78. Ultra-private luxury experience

Luxury brands are taking exclusivity to new heights, offering insider privileges to top clients.

• Chanel plans to open exclusive standalone boutiques in Asia in 2023 to cater to its VIP customers. The Paris-based luxury brand's revenue in 2021 was about $16 billion, up nearly 50% from 2020, with nearly half coming from Asia. The move sparked a controversy on social media about whether the brand was too snobbish, and the recent move to increase the price of handbags and limit purchases for customers has also attracted criticism.
• This is similar to what Dior is doing when it invites top clients to take a spa yacht ride on the Seine in Paris during its fashion shows in June and July 2022. The French fashion house already has two permanent spas in Paris, one at the Hotel Athena Paris and the other at Cheval Blanc. Visitors can book a two-hour cruise experience, which includes an hour of spa treatments and the rest of the time is spent admiring the scenery of the Seine. The idea was inspired by the historic Baths des Champs-Elysées, a 19th-century floating bathing place next to the new bridge on the Seine.

Nobu Hotels was founded by Japanese chef Nobu Matsuhisa, along with Hollywood actor Robert DeNiro and film producer Meir Teper, and is inspired by a traditional Japanese inn known as a ryokan.

Nobu Hotels has partnered with Schubach Aviation to launch the Ryokan Retreat package in 2022, which includes private jet service between Nobu Ryokan Malibu and Nobu Hotel Palo Alto in California. The package includes two nights at each hotel and omakase meals for two. Why you should pay attention to this trend: Luxury brands have been exploring opportunities around exclusivity. Some luxury brands are using "hunger marketing" to increase their status and value by limiting the number of places.

79. Remote Gourmet

High-end cuisine that is remote yet intimate is attracting diners to travel to every corner of the world to enjoy its delicious food.

The adventure of taste begins with the journey to the restaurant - and the experience along the way is itself part of the dining experience. In the summer of 2022 and 2023, the Michelin-starred restaurant Koks temporarily relocated from the already remote Faroe Islands to Ilimanaq, a small village within the Arctic Circle in Greenland.

Diners need to take an hour-long boat trip from the nearest town, Ilulissat, to sample the two-star restaurant’s menu. In a September 2022 article, BBC journalist Adrienne Murray Nielsen called the trip an “odyssey” because it involves sailing through icebergs, and described the experience as an “epic culinary journey.”

The restaurant will move back to the Faroe Islands in 2024, where they are currently building new premises. Kvitnes Gård is a boutique restaurant set among the fjords on the northwest coast of Norway that will open in late 2021. The restaurant can be reached by boat from a nearby town.

All guests are required to stay overnight to experience what the restaurant describes as an "extraordinary experience that goes beyond dining." Why you should watch this trend: Fine dining restaurants are not only offering unique menus, but also making the journey to the restaurant part of the dining experience. As luxury consumers seek niche, limited and one-of-a-kind experiences, expect to see more restaurants pop up in less accessible areas in the future.

80. Maritime Homes: A new generation of digital nomads is heading to the ocean in style

Cruise startup Storylines has announced its first luxury residential cruise ship concept.

• The 18-deck ship, named MV Narrative, is expected to set sail in 2025. Its 547 managed apartments will be able to accommodate 1,000 residents from all over the world and start an indefinite voyage that may last a lifetime.
• According to Insider, the ship offers 11 semi-customized apartment plans, several of which have already sold out, allowing interested buyers to choose from a variety of residences. A 237-square-foot studio apartment is priced at $1 million, and customers can choose a 1,970-square-foot four-bedroom duplex for $8 million.
• Each unit is equipped with a storage room, wardrobe, TV, kitchen and bathroom. Residents who work remotely can also rent a private office. The full cost of these sea residences will include food, medical services, swimming pools, docks, fitness facilities, and even bowling alleys.
• Of course, every time the cruise ship stops in countries such as Turkey, Greece, Italy, Montenegro, etc., the ship's residents can also disembark in these places.

In October 2022, Ritz-Carlton launched a luxury yacht cruise with a minimum cost of $6,000 per week, a project led by the brand's five-star hotel chain Evrima. Guests can enjoy services provided by Michelin-starred chefs, four swimming pools, a champagne bar, a cigar room, a nightclub and a spa on a voyage from Barcelona, ​​Spain to Nice, France. Why you should pay attention to this trend: Consumers living at sea are looking for an upgraded version of the luxury nomadic lifestyle.

This article is from the official website of Wunderman Thompson: https://www.wundermanthompson.com/

Author: Brand Yuan, WeChat public account: Brand Yuan (ID: brand-yuan)