The luxury market has changed. The number of people with the means to target high end products and services is growing worldwide.
With 5-7 IPOs slated in Silicon Valley in the next year, thus producing approx 10,000 plus new multi millionaires. That is hundreds of billions of dollars in market cap. There certainly is a growing luxury market year over year, and we are living in a modern day wealth grab with all the new tech wealth.
The high net worth audience is changing so get ready, especially in behavior and age, and where there once was a crave for purchasing goods, now there’s a desire towards EXPERIENCES and a clear separation from COMMITMENTS.
Private jet consumers are also evolving, for instance the millennial generation has sparked a new wave of behaviors within the private aviation industry; young entrepreneurs are using an executive jet or a turboprop to get to their destination faster. They’re using air charter not for luxury and exclusivity, but due to the overall flexibility over their busy schedules.
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Trends are changing regarding this market’s customer experience. More bookings for smaller and more cost-efficient aircraft in routes that are also covered by commercial aviation are coming in via internet mediums. This demonstrates that private aviation is increasingly being perceived as a formal means of transportation instead of an occasional luxury, and clients are making the most of this unique service.
“Time-efficiency is really what every charter user is after” Adam Hasiak, Founder Access Jet Group
On-Demand Charter Evolution: The Pursuit of New Experiences
Putting successful millennial multi-millionaire clients aside, usual private aviation flyers are still small and medium private company owners chartering an aircraft to deliver a service on time to a city without commercial connections. Also, executives in seek of work-life balance that can return to their home right after a meeting instead of the next day. They book sometimes days in advance, sometimes just hours before the flight, relying on the large pool of thousands of aircraft available on the air charter market from firms like Access Jet Group
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Although the scenario might be completely different ten years from now, today, the playing field has evolved in such a way that it’s the market that’s adapting to the consumer behavior and not the latter being shaped by the industry. Private jet providers are making a fast shift towards digitization in order to engage with a new, big and ambitious universe of clients. Millennial wealth and their way of navigating through life, where the work-life balance is paramount, and technology is their language, connects naturally with private aviation’s main traits.
Global Air Charter On-Demand
“With 5-7 IPOs slated in Silicon Valley in the next year, thus producing approx 10,000 plus new multi millionaires. That is hundreds of billionaires of dollars in market cap”
Technology and 360° communications are the starting point of a successful private aviation experience. NEW generations are all about NEW experiences instead of fixed services, and companies willing to identify this will thrive in today’s competitive market, and this is true for the whole process of the private jet experience, from marketing to after-sales.
ABOUT ADAM HASIAK
Adam Hasiak AdamPrivateJETS is founder of Access Jet Group and a “FIXER” for global C-Suite Executives, Office Managers, Executive Assistant teams, Travel Agents, Fortune CEOs, and other unique authorities for their global private aviation requirements. He responds to client needs in a sophisticated way by tailoring solutions to each client’s unique requirements. Adam is well versed in the global marketplace and provides exceptional experiences to the individuals he advises.
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