“The human need to seek approval through visible displays of our status is as primordial as ever. What may be changing, however, is how and what we choose to display. The top-rated goods and experiences are reflective of primarily private pleasures and point to a strong aspiration for leisure time, which can also be conspicuous. The shift away from conspicuous consumption from goods to services and experiences can also make luxury more exclusive,” says Substance of Style author Virginia Postrel, who cites as an example the Sapling Foundation’s TED (Technology Entertainment and Design) conferences, which attract an exclusive cut of intellectual luminaries. She says that anyone can decide they want to spend $6,000 on bags or watches, but for the same sum, you can register for the TED conference, which entitles you to spend four days in California hearing short talks by innovators like Frank Gehry, Amy Tan or Brian Greene. You mingle with smart, curious people, all of whom have $6,000 to spare, but to go to TED, you need more than cash. The conference directors have to deem you interesting enough to merit one of the 1,450 spots. It’s the intellectual equivalent of a velvet rope.
The similarity between the results obtained before the recession in 2008 and after in 2010 suggests that conspicuous leisure will be a driving trend for years to come, according to The Luxury Institute.
For providers of high-end goods, services and experiences, the rise of conspicuous leisure will create both challenges and new opportunities for luxury brands, as the definition of luxury for U.S. households continues to evolve. And as example, the high end luxury destination club industry has seen its share of problems this year, including a recent bankruptcy. But, the remaining four large destination clubs have all reported substantial new membership numbers, as well as new properties acquired in the latter part of this year. In addition, news clubs, such as Demeure, Boundless Journeys, Second Home Destinations,and others, have moved into the space, further validating the possibility of conspicuous leisure as a new travel trend.
“The human need to seek approval through visible displays of our status is as primordial as ever. What may be changing, however, is how and what we choose to display. The top-rated goods and experiences are reflective of primarily private pleasures and point to a strong aspiration for leisure time, which can also be conspicuous. The shift away from conspicuous consumption from goods to services and experiences can also make luxury more exclusive,” says Substance of Style author Virginia Postrel, who cites as an example the Sapling Foundation’s TED (Technology Entertainment and Design) conferences, which attract an exclusive cut of intellectual luminaries. She says that anyone can decide they want to spend $6,000 on bags or watches, but for the same sum, you can register for the TED conference, which entitles you to spend four days in California hearing short talks by innovators like Frank Gehry, Amy Tan or Brian Greene. You mingle with smart, curious people, all of whom have $6,000 to spare, but to go to TED, you need more than cash. The conference directors have to deem you interesting enough to merit one of the 1,450 spots. It’s the intellectual equivalent of a velvet rope.
The similarity between the results obtained before the recession in 2008 and after in 2010 suggests that conspicuous leisure will be a driving trend for years to come, according to The Luxury Institute.
For providers of high-end goods, services and experiences, the rise of conspicuous leisure will create both challenges and new opportunities for luxury brands, as the definition of luxury for U.S. households continues to evolve. And as example, the high end luxury destination club industry has seen its share of problems this year, including a recent bankruptcy. But, the remaining four large destination clubs have all reported substantial new membership numbers, as well as new properties acquired in the latter part of this year. In addition, news clubs, such as Demeure, Boundless Journeys, Second Home Destinations,and others, have moved into the space, further validating the possibility of conspicuous leisure as a new travel trend.
