GLAM_monitor

Wellness retreats are likely to retain their popularity as the wealthy look to improve their physical and mental health: 27% plan to visit these within the next year. #WellnessRetreat #HealthAndWellness #LuxuryTravel #HealthyLifestyle #RetreatLife

We just added a new category in Q3: Luxury audio. 🎶 It turns out that 45% said they had purchased a luxury audio product such as speakers, with 15% making more than one purchase. #LuxuryAudio #AudioProducts #HighEndAudio #LuxuryLifestyle

In Q3, 45% of HNWIs said they had purchased a luxury audio product such as speakers, with 15% making more than one purchase. #LuxuryAudio #HighNetWorth #AudioTechnology #LuxuryLifestyle

From 70% in Q1 2022, the share of wealthy individuals saying that they had taken a luxury holiday steadily rose thereafter, stabilising in the mid-high 80%s in 2024 (87% in Q3). #LuxuryTravel #TravelTrends #LuxuryLifestyle

Luxury remains important right from the start of our respondents’ holidays, including at the airport: 56% of HNWIs shopped in a duty-free store, the highest point since this code was introduced in Q4 2021. #HNWI #Duty-free #airport #luxury

Within Wealthy individuals, there are growing energy demands coming from the use of AI programs. In Q3, 43% of them say that they are already using such programs, rising to 60% among under-40s and 62% among APAC respondents. #WealthManagement #AITrends #EnergyDemand

In Q3, two in five (44%) of HNWIs have already made the switch to electric or hybrid cars, with uptake likely to rise in the coming years as the technology of these cars continues to improve and BEVs are phased out. #ElectricCars #HybridCars #HNWIs #GreenTechnology

Travel has now returned to pre-2020 levels, and sustainable/ethical travel will be important in this recovery: 12% say that they have reconsidered their recent travel plans due to climate changes such as heatwaves and wildfires. #TravelRecovery #EthicalTravel #EcoTourism

Renting and Secondhand Gain Favor Among HNWIs 🌍♻️ Over half (58%) of HNWIs think that renting goods is either somewhat or very environmentally-friendly, rising to 70% for buying goods second hand. #SustainableLuxury #EcoFriendlyLiving #CircularEconomy

Despite last year’s rise in value, the continued unpredictability and volatility of crypto appears to have hardened the opposition among non-investors. In Q2, 30% of HNWIs said that they do not currently invest in crypto and do not think they will do so in the future

Within the past year, luxury remains important right from the start of our respondents’ holidays, including at the airport, with 43% of affluent individuals using a VIP waiting lounge and 44% of them travelling by business/first-class. #LuxuryTravel #AffluentLifestyle

The past two years have seen a notable uplift in online luxury shopping, but this, too, saw some fluctuation over the last year. In Q2, 65% of HNWIs said they had purchased luxury goods or services via their computer or laptop, rising to 83% of Americans. #OnlineShopping#Luxury

Sustainability and tapping into the circular economy are at the heart of this growth. 10% are interested in renting clothes and this indicates a gradual growth. Meanwhile, 23% say that they are interested in buying second-hand clothes. #Sustainability #CircularEconomy

Wealth management services and leather goods have remained popular and purchased by around 70% within the past year. #WealthManagement #LeatherGoods

Travel has now returned to pre-2020 levels, and sustainable/ethical travel will be at the heart of this recovery: 15% say that they have reconsidered their travel plans due to climate changes such as heatwaves and wildfires. #TravelTrends #SustainableTravel

Wellness tourism continues to flourish as more luxury hotels acknowledge the appeal of relaxation facilities, especially in the wake of COVID-19. Indeed, 26% say that they had been to a wellness retreat over the past year, up from 20% in Q1. #Wellness #LuxuryTravel

In Q2 2024, two in five (40%) HNWIs have already made the switch to electric or hybrid cars, with uptake likely to rise in the coming years as the technology of these cars continues to improve and BEVs are phased out. #ElectricCars #HybridCars #HNWIs

Despite the rise of online shopping, 80% of affluent and HNWIs still prefer purchasing luxury goods and services in physical stores, according to data from Q2 2024. The in-person experience remains essential for high-end consumers in the luxury sector. #LuxuryShopping #Store

NFTs remain a relatively niche concept despite the hype of recent years. Still only one in ten (12%) say that they have previously purchased NFTs as of Q2, rising to 23% of under-40s. #NFTs #CryptoCollectibles #NFTMarketplace

Sustainability and tapping into the circular economy are at the heart of Wealthy individuals: 47% of them said that they are now concerned about the climate crisis, while 44% are trying to reduce their personal carbon footprint in everyday life. #Sustainability #CircularEconomy