Dear James,
I have a secret…I love TikTok, I always have. The short-form video entertainment app intrigues me in so many ways. But the conundrum has always been, how should luxury brands harness this rapidly growing (and mass market) social media app?
I am therefore beyond delighted that the head of luxury for TikTok, Kristina Karassoulis, shares her insights for luxury brands in our annual trends issue of Fox Quarterly.
And of course, it’s not just social media apps that are growing next year, travel is forecast to grow by 15 per cent, according to Agility’s research paper into key luxury trends. Travel and social media are now inextricably linked: it’s all about the experience and then sharing it. In this issue’s travel insights article, Rick Jordan highlights the top trends for 2025 and how to harness them. Cultural capital is the key, but in an authentic and transparent manner.
According to Agility’s research paper, HNWIs are increasingly being influenced by digital innovations that seamlessly integrate into their lives, such as voice-activated concierges or AI-driven cooking assistants. The critical component, as Walter Pasquarelli illustrates, is to ensure that technology is tailored to the individual. A whopping 59 per cent of consumers, he says, are more likely to engage with brands offering personalised experiences. It is the challenge for all of us who work in luxury to deliver that in the year ahead.
But might the greatest luxury of all in the future be the ability to switch off? Ben McCormack reports on the trend for restaurants returning to taking reservations over the phone with pen and paper, and mobile phones being banned when customers arrive for their meal. And while touchless treatments are booming in wellness, Mark Smith insists that no robot will ever replace the power of the human touch.
Twelve months ago, many of us were only just learning about generative AI; now Pasquarelli says it is agentic AI that will shape our lives. It can sometimes feel overwhelming keeping up with the ever-faster pace of life, and not just in luxury. But whatever the future holds, I wish all of you a peaceful and prosperous 12 months to come.
Lysbeth
