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.
While we will announce the complete roster of speakers in the next few days, attendees can expect to 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 email@example.com
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
Edie Rodriguez, CEO, Crystal
Brand Challenge: Connecting with Different Generations Across Traditional and Digital Channels
Generations X, Y and Z have their own attitudes, behavior and response to advertising and marketing, media consumption, design and creative. A cookie-cutter approach will not do it anymore. So how should luxury brands and retailers target their outreach efforts to stoke demand with distinct triggers?
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.
Alberto Milani, head of the luxury division of the Berkshire Hathaway’s Richline Group, and president, Italy America Chamber of Commerce
Orit, Founder/CEO, The O Group
Bob Shullman, founder/CEO, Shullman Research Center
10 a.m. – 10:30 a.m.
Module 2: 10:30 a.m. – Noon
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
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?
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.
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?
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?
Ecommerce and Mobile
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?
3 p.m. – 3:30 p.m.
Module 4: 3:30 p.m. – 5:30 p.m.
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 and CEO, Engel & Völkers New York City
Adam Karp, CMO, 1stdibs
The Real Money: Silent Generation and the Baby Boomers
How not to neglect them. How the transfer of wealth will transform luxury consumption.
Stacy Derby, family biography, Bind These Words
Let the Consumer Speak: 5 Members of Their Generation Share
Hear it from the horse’s mouth: Silent generation, baby boomer, Gen X, Gen Y and Gen Z. What makes them tick and what tickles their luxury fancy? These representatives of their generation will offer insights into how they view luxury shopping and experiences, with their likes and dislikes.
Mickey Alam Khan, editor in chief, Luxury Daily
Sponsored Networking Cocktails
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