What Is The Future of Luxury?

February 20th, 2020 by

What is the future of luxury?

To look forward, we must look back. Over a century ago, having electric lights and ignition were considered luxuries. Then came power-assisted steering and brakes, automatic transmissions, electric windows and expanded audio offerings – including stereo speakers.

Today, Lexus offers what luxury customers want today. From the UX crossover to the LC coupe, Lexus luxury us what our customers truly want – to Experience Amazing.

What will luxury look like in the next decade? Or, the next 100 years?

A study was commissioned by Lexus to ask a wide range of potential customers – of all driving ages – to find out what they want in terms of future luxury. This is a view of what the study found out to answer this eternal question.

A majority of Americans — 56% — feel that luxury is better described as a lifestyle of experiences than a collection of belongings. In fact, 86% of Americans expect luxury brands to provide exceptional experiences — from being highly responsive to customers’ needs, providing expert support, and focusing on the details; to the personal touch, such as knowing the customer’s name and preferences and even attention to the sensory, such as scent, lighting and mood. 

While we love our devices – smartphones, tablets, smartwatches, and so forth – almost three times as many people will associate luxury with the opportunity for the occasional “digital detox” — time to voluntary refrain from social media, news, email and the internet from time-to-time.

The study also found customers wanting more personalization in purchasing their next vehicle. A large majority of study respondents – 93% – expect to see just as much, if not more, features from luxury brands allowing them to make special requests. In fact, 51% of respondents hope to see additional tools and innovation supporting ways to customize their online luxury orders.

While Lexus is a leader in environmentally friendly vehicles, the study confirms that 81% of Americans expect luxury brands to have environmentally friendly manufacturing processes.  Also, 71% of respondents believe luxury brands should act like leaders on issues surrounding sustainability. Our Hybrid models offer such materials like environmentally friendly upholstery and trim inside their interiors.

The study also shows that there should be an emphasis on going beyond what is tangible about luxury. They believe that the freedom to enjoy oneself and focus on what’s important to be a luxury. Respondents would rather focus on health and wellness becoming even more of a luxury.

If we look well into the future – 2050 to be exact – Americans predict mind-reading technology, space travel and flying cars will be luxury symbols. Indeed, advanced technology leads the list in terms of what luxury is expected to look like in the year 2050.

Luxury is what you make of it. At Lexus, we believe in luxury that transcends time. At Lexus of Henderson, we are priming ourselves to be ready for the future. Come see where Lexus is heading to next by test driving our current lineup of luxury automobiles.

 

Posted in Future