A Waldorf Astoria executive at Luxury Daily's Luxury FirstLook: Strategy 2013 conference said that the status of true luxury is determined by convenience, choice and consumer control.
During the "Moving from one-touch to high-touch for the modern luxury marketer" session, an executive from Hilton Worldwide said that the true luxury experience depends upon the service provided to the consumer. Luxury marketers should keep service in mind when trying to engage consumers.
"There are imitation brands everywhere, what makes the difference is the status," said John Vanderslice, global head of luxury and lifestyle brands for Hilton Worldwide.
"It is also about the convenience, choice and control," he said.
"Luxury is here forever, luxury will not die."
Marketers should realize that luxury is not going away and luxury goods will always be present.
The luxury market has surged back after the last downturn of the economy, per Mr. Vanderslice.
However, luxury marketers need to make sure they understand their consumers and their future consumers.
To help address this point and start the conversation, Mr. Vanderslice has started a video series titled "The Luxury Manifesto" where he discusses the future of luxury and the luxury consumer with industry experts.
The series is available on Conrad Hotel's YouTube account.
Ferruccio Ferragamo in The Luxury Manifesto
Overall, Mr. Vanderslice is optimistic about the future of the luxury market and said that luxury will always be present.