The Global Events industry generated a turnover of $1,135 billion in 2019 and is expected to reach $1,553 billion in worldwide sales by 2028, according to a study by Allied Market Research.
The industry has been severely affected by the Covid pandemic, but is now set for rebound and growth because the business of wedding parties, social events and business conferences produce unforgettable magic for their clients and guests.
So, if you are in this business and you wish to surf the forecasted wave of growth, you have to think strategically and plan to delight your affluent target audience.
Treat them like royalty! Make them dream!
Five Steps for a Magical Customer Experience
Society evolves, consumer needs and desires change and as a consequence the market is becoming increasingly polarized in almost every product or service category. More and more you find either … please read more
In 1983, I’ve read ‘A Passion for Excellence’, by Tom Peters and Nancy Austin, and gained a totally new way of understanding excellence.
Then, over a 30-year career in business, I got used to hearing that excellence is synonymous with extreme quality, perfection, or something that goes beyond normality. Dictionaries define it as something exceptional or extremely good.
But having studied Luxury Brand Management and read a lot about this world of fascination, I began to understand excellence differently. I read many experts, investigate the … please read more
In recent years, luxury has been too democratized, very much due to globalization, hypermodernity and trade up phenomena. Consequently, brands increase sales, but slowly and over time luxury products and services become more similar to one another and lose value. The new antidote against the democratization of luxury brands seems to be a clear investment in employees that convey genuine warmth and charm as a way of providing pleasure and happiness to customers. Quo vadis, Luxus?
Thomas L. Friedman in his book The World is Flat, analyzes the phenomenon of globalization and the increasing leveling of the different regions of the world, regarding the development of societies and their access to goods and services in general.
Gilles Lipovetsky, contemporary French philosopher, who was my teacher and with whom I have talked a lot about the sociological evolution of luxury and the ideas in his book The Eternal Luxury, was the first to realize that the hyper-modern society of … please read more
According to the December 2010 edition of LuxuryDaily.com, consumers of luxury and premium goods and services, worldwide, are increasingly using mobile web devices – smartphones and tablets – to search for information about everything they want to buy. Quo vadis, Luxus?
The use of mobile Web is experiencing impressive growth. It is estimated that there are about 5 billion mobile phones in the world and about 30% of users have regular Web access in this way. And although this percentage is not the same in all regions of the world – in Europe it is still relatively low – it surely is an indicator of the predictable evolution in the near future. And this evolution will be particularly fast in the premium market, because nowadays the luxury consumer belongs to the best educated generation ever, achieves wealth at younger age than previous generations, is very technology-savyy and knowledgeable of new ways of communication, using them both … please read more