Changing habits of Chinese luxury travelers
Print Edition
BESPOKE experiences and digital services are key to winning the loyalty of well-heeled young Chinese travelers, according to a joint research by Marriott International and Hurun Research Institute.
Their research report, Chinese Luxury Traveler 2016, showed a shift in travel habits among the country’s younger and super rich travelers, aged 18 to 36 and averaging 39 million yuan (US$5.9 million) in net worth.
High-net-worth Chinese travelers born after 1980 want more personalized luxury experience and added value throughout the entire hospitality ecosystem — from planning a trip to requesting guest services and selecting which loyalty program to join.
When it comes to services and information, China’s young luxury travelers prefer to do it digitally. Interactive guest services on smart devices are far more popular than traditional services among these young travelers who also use smart devices to record and manage their preferences, according to the research, which collected 525 samples from four first-tier cities and eight second-tier cities.
WeChat emerged as their primary source of travel information.
Young luxury travelers have diverse interests, ranging from adventure travel, polar exploration to road trips that take them further afield to exotic destinations around the globe.
“Despite a slowing economy, the impact on outbound travels of high-net-worth individuals appeared to be small,” said Rupert Hoogewerf, Hurun Report chairman and chief researcher. “The young luxury travelers have developed significant spending firepower during the recent boom in Chinese entrepreneurship.”
Here are some key findings from the Chinese Luxury Traveler 2016.
Experienced travelers with high spending power
Generation Y travelers spend an average of 420,000 yuan on tours per household per year, including an average of 220,000 yuan on tourist shopping — primarily clothing, bags, watches and jewelry. Their average hotel budget is 3,100 yuan per night. Experienced travelers have been to 13 countries on average and went abroad 3.3 times in the past year for approximately 25 days, 69 percent of which was leisure travel.
Popular destinations
Europe is the favored destination among young Chinese luxury travelers with 61 percent of them being there in the past year and 65 percent planning to visit in the next three years. France was their most popular overseas destination while Japan was rated the most memorable destination in 2015 and the best destination for their Chinese New Year holiday. Travel to Japan was strong last year due to its closeness, pleasant shopping and dining experiences, and a modern sophisticated culture.
Travel time: flexible and family-oriented
About 55 percent of young luxury travelers said that in the next year they are most likely to travel whenever it fits their schedule. National Day holiday is the second most popular travel time as 36 percent of respondents say they prefer to travel in early October. It is interesting to note that most Generation Y luxury travelers either have very young kids or no kids and only 20 percent of them want to travel in summer. About 56 percent of them traveled with families during this year’s Spring Festival holiday. Some 90 percent traveled in a party of four people on average and stayed abroad for 8.5 days.
Travel purpose: more diverse
Young luxury travelers are expected to seek more diverse travel experiences in the next three years. Leisure and vacation are still their main reasons to travel, however they also cited other reasons such as outdoor challenges. Demand for global travel, adventure travel, polar exploration and road trip is expected to rise by 25 percent, 52 percent, 38 percent and 75 percent, respectively, in the next three years.
Hotel selection
Although 41 percent of all travelers cite room cleanliness as top concern when choosing a hotel, 42 percent of young luxury travelers with a net worth of over 100 million yuan make personalized services their foremost consideration. They want luxury amenities, tailored guest experiences, a selection of pillows, and high-tech digital equipment to make their stay more enjoyable.
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