The hospitality industry is obsessed with the wrong question “who is our target audience?”
We’ve all been so focused on ‘who’ that I see many forgetting ‘why’.
Focusing on ‘who’ made sense ten years ago but today, it’s holding business back.
Identity has been commoditised: our traits, experiences, and social roles are packaged, branded, and sold as a product.
- Subculture access can now be bought pretty much off the shelf.
- The definition of luxury is constantly evolving.
- Two-thirds of the world’s wealthiest are now self-made and prioritise momentum over the preservation favoured by previous generations.
Our world is essentially - ultra fast.
We have come from a world where wealth, identity and status were earned over time, slowly and cemented within peer groups. You always ate at X, stayed at Y, and lived in Z neighbourhood to be somebody.
But today, people’s access and identity move freely, fast and are publicly broadcast - societally we’ve become ‘brand promiscuous’...
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