Join senior executives and decision-makers at the 2nd annual Luxury Roundtable 2017: Engaging Gens X, Y & Z, a conference organized by Luxury Daily discussing a serious issue facing luxury marketers: how to drive and sustain demand from Generations X, Y and Z whose shopping habits are strikingly different from the silent generation and baby boomers.
Attendees will hear from brands, retailers, agencies, market researchers and publishers on how luxury marketers should address younger affluent generations who emphasize experience over acquisition, digital over physical, and choice versus loyalty.
Focus: How luxury marketers should target the different affluent generations, recognizing their varying attitudes to product consumption and experiences that may shape the future of the luxury business. The content centers on mindsets and psychographics more than simply demographics. Agenda will evolve.
Why you should attend: Several reasons. First, luxury is undergoing a rapid shift in consumption behavior as the older silent (1933-45) and baby boomer (1946-64) generations begin transferring wealth to the younger Generations X, Y and Z. Next, self-made Gens X and Y do not share the same attitudes to luxury product acquisition and retail stores as their parents or the preceding generations, setting up a challenge in the next decade for the vast majority of luxury marketers who sell products and not experiences. Finally, that oft-abused word: experiences – Gens X, Y and Z, at least for now, show a propensity for creating memories versus buying more product. It is time for luxury marketers to tackle these bulls by the horn. This event is a deep-dive into the looming mindset change that will shake the very foundations of the luxury business.
Venue: 10 on the Park at Time Warner Center, 60 Columbus Circle, 10th floor, New York, NY 10019 (entrance is on 60th Street across from Columbus Circle, between Equinox gym and the Mandarin Oriental Hotel)
Price: Only $695, which includes breakfast, lunch and cocktails
Sponsorship: For lunch roundtables and keynotes, tables, breakfast, cocktails and other sponsorships, please email firstname.lastname@example.org
Wednesday, May 3, 2017
7:30 a.m. – 8:15 a.m.
Breakfast and Registration
Mickey Alam Khan, editor in chief, Luxury Daily
Module 1: 8:30 a.m. – 10 a.m.
Crystal: How to Tailor Travel Experiences to Gens X, Y & Z
How one of the leading cruise lines is going beyond ocean travel to air and sea residences and travel experiences to entice younger affluent consumers while still maintaining a grip on their silent generation and baby boomer markets. What does it take to straddle these disparate markets and how to pivot to meet the changing tastes of Gens X, Y and Z is the focus of this session.
Edie Rodriguez, CEO, Crystal
Lamborghini: Connecting with Different Generations Across Traditional and Digital Channels
Lamborghini is working to shift brand perception to appeal more widely to Gens Y and Z and other audiences as they become more affluent. To do so, the automaker is moving away from traditional car porn and 0-60 specs to a concept that tells the story of the sensory experience that the vehicles can create, leaving more to the imagination. With the launch of the Urus SUV in 2018 - an “everyday" Lamborghini - the brand is moving into a new era that sees it becoming more inclusive and versatile, and that for the first time, will attract women to the brand and shake off some of its Italian machismo. This session will shed light on the strategy shift as well as the thinking behind the new SUV and the potential of affluent younger women consumers.
Rico Macaraeg, brand and experiential marketing manager, Lamborghini
Simon Candy, executive creative director, iris Atlanta, and Lamborghini’s North American agency of record
How to Manage Generational Differences In Building a Luxury Brand
In these competitive and evolving times, what must luxury brands do better to craft impactful messages to the different generations in their desired audiences? In addressing this challenge, are brand communications able to do more than just speak to their audiences, but rather actually engage with each of those generations in ways that can effectively communicate the brand experience from the first point of contact? Furthermore, how do brand leaders keep a tight grip on current best practices and simultaneously anticipate the uncertainty of those consumers’ future needs as they age?
Andy Georgescu, marketing communications leader, Lincoln Motor Co.
Orit, Founder/CEO, The O Group
Thuy Tranthi Rieder, group vice president of sales and marketing, Rosewood Hotel Group
Bob Shullman, founder/CEO, Shullman Research Center
10 a.m. – 10:30 a.m.
Module 2: 10:30 a.m. – Noon
Moderator: Mickey Alam Khan, editor in chief, Luxury Daily
Defining Luxury and Authenticity
What it means to each post-boomer generation and how they interpret luxury even among a wealthy base. Adapting to new mores and technology-driven shifts, luxury marketers have to grapple with a fundamental issue: what does their brand stand for as the current customer base ages and the younger, affluent cohorts define luxury in less material terms? How far should they go from their roots to woo Gens X, Y and Z – or should they stand their ground? How green should their credentials be – sustainability as a selling point?
Jasmine Bina, founder/CEO, Concept Bureau
Tom Geyer, vice president of brand development, Bozzuto
David Arnold, managing director, Robb Report
Janey Whiteside, senior vice president and general manager for global charge products, benefits and services, American Express
Ashok Som, professor of global strategy and chair of the management department, ESSEC Business School
Response to Advertising, Marketing and Social Overtures – Or Indifference
What resonates with consumers in each generation, addressing issues such as marketing and information overload, ad blindness, spray and pray, inadequate branding, future of print, digital migration, social media, cynicism and loyalty building. Is social the new mail? When does familiarity breed contempt for these audiences? Which channels work best for which generation?
Deborah Marquardt, chief marketing officer, Diamond Producers Association
Greg P. Licciardi, chief revenue officer for North America, Elite Traveler Media Group
Content and Media Strategy
How to plan and buy media as well as generate content and native advertising for new digital formats as print loses luster with readers and advertisers. Why high-end leisure magazines are here to stay.
Whitney Robinson, style director, Hearst's Town & Country magazine
Mickey Alam Khan, editor in chief, Luxury Daily
Noon to 1 p.m.
Module 3: 1 p.m. – 3 p.m.
Experiences over Acquisition, Memories Over Stuff
Is this a new trend or simply a function of youth and reluctance to accumulate material goods until family life and roots set as part of the life stage? Indications are that this non-materialistic pattern is here to stay, so what it will mean for luxury brands and retailers peddling high-end product for which the young rich or wealthy heirs have no resonance or use? How to turning retail purchases and digital into an experience?
Charline Santos, associate director of strategy, Walton Isaacson
JP Kuehlwein, principal, Ueber-Brands, and former executive vice president, Frederic Fekkai & Co.
Thomas Serrano, president, Havas Luxe
Aaron Berger, vice president, co-lead GenZennial Expertise Group, Ketchum
George Fleck, vice president for global brand management, Le Meridien, Westin and Renaissance
No-Show to Showroom: Emerging Role of the Retail Store
Emporium or showroom? Place to browse, but not buy? Gens X, Y and Z are equally comfortable shopping online and on mobile, so how to convince them to walk into a store and savor the experience and products. How to turn retail into an experience to remember. Even as department stores ebb away? And how to train store staff to deal with jeans and sneakers – the new dress code for the younger affluents?
David Gaines, chief planning officer, Maxus Americas
MT Carney, founder/CEO, Untitled Worldwide
Ecommerce and Mobile: Symbol of the New Path to Purchase
Consumers across all cohorts post-boomer live on their smartphone. How to deploy online and mobile to generate new business while retaining existing customers? Delivering customer service via digital: how to make that happen? And how to set up for ecommerce and mcommerce fulfillment and delivery across borders?
Mike Griffin, vice president for consumer experience, Pitney Bowes
Mark Logan, CEO, WealthEngine
Gen Z And the Paradox of Luxury: A New Generation Challenges Old Definitions
When it comes to luxury, Gen Z consumers—those born between 1996 and 2016 — are displaying attitudes and behavior that are going to challenge the core assumptions and values upon which the industry operated for years. This a generation of consumers who insist on being seen as unique, reject the idea of universality, and demand to take an active role in defining the brands they chose to use or wear. Being the first majority minority generation, they expect brands to practice diversity in their communications and avoid those who do not. They expect personalization, appreciate quality but above all value experience. Luxury brands must prepare now for what is to be the largest consumer generation of our time — a 2.5-billion age cohort globally. This session will address how luxury brands can engage with a generation of shoppers that seems opposed to much for what luxury brands appear to stand.
Hana Ben-Shabat, partner in the retail and consumer goods practice, A. T. Kearney
3 p.m. – 3:30 p.m.
Module 4: 3:30 p.m. – 6 p.m.
Emerging Gen Z Powerhouse: The Driving Influence on New Consumer Spending Patterns
The retail industry is experiencing a generational shift in consumers, and these new younger shoppers have vastly different expectations of how they want to interact with retailers and brands. Understanding the technologies and experiences these consumers value most, how they influence their parent’s purchasing decisions, their most significant shopping influencers, and how they value social, fashion and lifestyle trends, is critical for retailers to engage this emerging and significant generational segment. This keynote will present key findings from the latest HRC consumer shopping behavior study, including:
• Malls are not dead, but are being shopped differently
• Gen Z’s strong influence on parents’ purchasing decisions
• Social influences on shopping behavior are changing
• Gen Z votes friends as most influential
Farla Efros, president, HRC Retail Advisory
Trends Across Sectors: How Luxury is Adapting to Gens X, Y & Z
A look at key luxury verticals which have had to adapt to new shopping and consumption patterns and lessons that can be applied across sectors.
Stuart Siegel, president/CEO, Engel & Völkers New York City
Adam Karp, chief marketing officer, 1stdibs
Julius Robinson, vice president and global lead for Autograph Collection Hotels and Tribute Portfolio Hotels, Marriott International
Michael Wilson, founder, Niall watchmakers
The Luxury Shoppers of Tomorrow
The future of the $1 trillion-plus global luxury market rests in the hands of young consumers whose attitudes and aspirations differ drastically from previous generations. How prepared are luxury brands for them? This session will reveal a comprehensive portrait of the evolving ways that Gens X, Y and Z are approaching luxury shopping and the dynamic role that brands play in the lives of these influential consumers. Key points under discussion include:
• The rise of “ReLuxe”
• Tapping the transformation economy
• In-store shopping, digital discovery
• Luxe redux
Alina Díaz, senior vice president, Cassandra
The Real Money: Silent Generation and the Baby Boomers
Consumers born between 1933 and 1945 still account for the most wealth among the affluent. The first of these two generations witnessed the depression and the next was the result of a postwar baby boom. They worked hard, built fortunes, were thrifty and defined luxury by possession of quality products and holidays across different homes spanning the globe. So while the focus is on the younger affluents, marketers should still keep an eye on these older cohorts as they downsize and handover assets to the next generation, or splurge on travel experiences. One thing is certain in the next few years: the market will see the biggest transfer of wealth to the succeeding generations, a prospect that will transform luxury consumption.
Stacy Derby, family biography, Bind These Words
Leann Gaines, marketing manager for enterprise development, HighTower Advisors
Mickey Alam Khan, editor in chief, Luxury Daily
Hotels in the Midtown Manhattan neighborhood (from nearest to farthest):
80 Columbus Park at 60th Street, New York, NY 10023; tel: 212-805-8800
Trump Hotel Central Park
One Central Park West, New York, NY, 10023; tel: 212-299-1000
Hudson New York
356 W 58th Street, New York, NY 10019; tel: 212-554-6000
JW Marriott Essex House New York
160 Central Park South, New York, NY 10019; tel: 212-247-0300
1335 Avenue of the Americas, New York, NY 10019; tel: 212-586-7000
455 Madison Avenue, New York, NY 10022; tel: 212-888-7000
40 West 40th Street, New York, NY 10018; tel: 212-869-4446
1535 Broadway, New York, NY 10036; tel: 212-398-1900
811 Seventh Avenue, New York, NY 10019; tel: 212-581-1000
Agenda subject to change. Refunds will not be given after 12:01 a.m. on Monday, May 1, 2017