July 20, 2024

At Notre Dame, playing the organ. working out under a world-class boxer. bringing a well-known actor to your murder mystery party or inviting an elephant to your wedding.

Read More: VIP Concierge Services

These are just a few of the unique experiences that Ten Lifestyle Group, personal concierge specialists, has arranged for its wealthy and mass-affluent customers, who include a variety of celebrities, business leaders, entrepreneurs, and changemakers.

Exclusive, innovative, and luxurious experiences are in high demand, and Ten Group meets this need by providing its services to around 2 million members worldwide, around the clock, every day of the year.

Although the pandemic momentarily reduced the need for these services, personal concierge and lifestyle management firms have made a strong comeback as customers and members strive to make up for missed time and experiences.

These international concierge services, of which there are many, not only save members time by taking care of routine or difficult daily activities, but they also provide special access to exclusive events that are not available to the general public and handpick unique and cutting-edge trips and experiences.

These services are beneficial to both individuals and organizations as they cater to the interests of wealthy and ultra-wealthy clientele, and wealth worldwide is increasing.

The Wealth Report by Knight Frank projects that, between now and 2025, the number of Ultra-High-Net-Worthy people (those with US$30 million or more) and millionaires would increase globally by 27% and 41%, respectively.

When you combine this with a post-pandemic rise in people choosing “experiences over ownership,” the need for concierge services may rise dramatically.

A pandemic creates new, pressing, and significant needs.

But when people’s goals and values shift, so does the form of that demand. Since the epidemic began, there has been a significant shift in people’s views and behaviors toward consumerism. According to studies, people are seeking a deeper sense of fulfillment and purpose in life and are more conscious of their influence on the environment, society, and other people.

Not only are UHNW people selecting experiential luxury—that is, immersive, memorable experiences—as a means of making memories and making an impression, but concierge clubs are also discovering that stringent criteria are the norm.

According to Olivier Larigaldie, CEO of Jean Paul Group, one of the oldest concierge businesses in the world that serves thousands of members globally with its premium concierge and loyalty programs, “the pandemic has transformed the requests of our members.”

According to Larigaldie, there is a growing need for services to help repatriate families, as well as to engage and amuse children who are not in school. There is also a strong need to enable customized home meal delivery that are both nutritious and sourced locally. Members are also scheduling more staycations, seeking places closer to their home, planning less lengthy vacations, and making last-minute reservations when it comes to experiences and travel.

Ten Lifestyle Group, a concierge business with over 2 million members and 22 offices worldwide, observes a similar trend in terms of travel and experiences. Members are drawn to “safe” and “easy access” locations, such as staycations, and they also prefer last-minute bookings, which the group predicts will continue for at least another 24 months due to ongoing changes in international government regulations.

Along with members’ desire to take longer trips to avoid potential travel complications and to have increased privacy and security, they are also witnessing a spike in demand for private vacation rentals due to the rise in remote working. Additionally, demand for experiences and vacations centred around health and wellness is also growing.

Travel plans are starting to mirror this trend, with “trips that enrich both mind and body becoming increasingly popular,” according to Gabriella Stanley, Business Development Director, Ten Lifestyle Group. The worldwide lockdowns afforded many HNWIs unexpected time for self-reflection and wellbeing.

As we come out of the most difficult phase of COVID-19, according to recently released research from the Luxury Institute, UHNWIs are once again gravitating toward gated communities and private club models. This is because the pandemic has made private, protected spaces—like villas, farms, ranches, islands, jets, and yachts—the most desirable.

More importantly, the study reveals that the majority of UNHWIs are, more than ever, looking for a meaningful purpose in their lives and careers; they also like to travel to sustainable destinations, spend time in nature, and only interact with businesses that uphold environmental standards.

This impact-first mindset is supported by Julius Baer’s first-ever Lifestyle Index, which polled HNWIs in the first quarter of 2022. According to the Index, HNWIs have a strong desire to spend money on travel and leisure experiences abroad, and they are becoming more and more interested in environmental issues as a way to better align their financial and investing decisions with their personal beliefs.