ET Insider – October 8, 2013
More than ever private jet travelers, or elite travelers as we like to call them, are the most lucrative market for luxury brands and service providers. With readers spending $10,000 per hour to fly privately, the over 600,000 readers Elite Traveler reaches each issue provide you a great way to make sure your message is in front of consumers who have the money to be good customers. With our Asia Edition, Elite Traveler Superyachts, our over 60 Elite Traveler Destination Guides at Elitetraveler.com, our global database of private jet owners and our award-winning custom marketing team, we would welcome the opportunity to be of help to you in making sure you get a bigger share of our reader spending.
With a Net Worth of more than $25 trillion, I hope you will agree elite travelers should be a key target for your marketing!
In this edition: 1. Elite Traveler 2013 Readership Survey…We were happy! 2. Elite Traveler’s Jessica Michault- Fashion Power Player 3. The Definitive List: Elite Traveler Top 100 Real Estate List Coming in January
1.Elite Traveler 2013 Readership Survey…We were happy!
From August 8 to 15, 211 private jet and fractional jet owners from over 25 countries responded to a survey sent via e-mail by a third party survey company. The list of private jet and fractional jet owners was also a third party list not affiliated with Elite Traveler. The survey was open for one week.
Of course it’s not news that the Ultra High Net Worth Consumer is increasingly being identified as a strong marketing opportunity for luxury brands; however, reaching these global go-getters is always tricky.
Respondents ranged from a 49 year-old Montreal-based CEO of a fashion company to an Iowan who made over $200 million selling the trash collection company he started after college as well as the Jakarta-based Director of one of Asia’s largest banks and the New York Treasurer of a leading insurance company.
Of course there was also a 29 year old model from Miami, a 45-year old Beverly Hills neurosurgeon, a Helsinki based former race car driver, a Chilean supermarket king, a 44 year old Geneva banker, and the owner of 50 convenience stores from Wisconsin. And there was also an auto dealer from Puerto Rico, the hedge fund manager from Rye, NY, another from Greenwich and oilman from Odessa, TX not to mention CEOs from Russia and China and a Florida-based distributor of consumer products to Central America.
With over 100 flights a year and more an average of 3+ residences, private jet travelers are always on the move, or as I like to say, “the private jet is their living room”.
So what did these private jet owners tell us?
• 89.1 % are regular readers of Elite Traveler
• 98.9% said Elite Traveler is a good showcase for luxury goods and services
• 95.4% said Elite Traveler’s paper, size and content are higher quality than other magazines they read
• 63.2% described Elite Traveler as one of their “3 or 4” favorite magazines
• Elite Traveler readers “pick up or look at” an issue 3.1 times, with nearly 30 percent reading each issue 4+ times
• Elite Traveler readers show their copy to at least 3 other people, with 20 percent showing it to more than 6 other people
And how do Elite Traveler readers respond to what they see in our magazine?
In the past 12 months, over 92% bought something they read about in Elite Traveler, specifically:
• 86.9% booked a hotel, resort or spa they read about in Elite Traveler
• 51.4% purchased wine or spirits they read about
• 40 % purchased aviation services
• 38.3% bought fashion and accessories from the pages of Elite Traveler
• 36.6% bought jewelry and watches they read about in Elite Traveler
• 32% bought or leased a luxury auto they saw in our issues
• 24.6% bought fragrances and cosmetics from Elite Traveler
• 19.4% bought real estate they read about in Elite Traveler
So what else do these elite travelers read?
With many publications publishing numerous country and regional editions, we asked them about any version of various lifestyle titles:
• 98.1% don’t read any edition of Black Ink/Centurion
• 96.7% don’t read W
• 96.2% don’t read FT How to Spend It
• 85.9% don’t read any edition of Vogue
• 83.5% don’t read any edition of Vanity Fair
• 80.3% don’t read any edition of Departures
• 78.4% don’t read any edition of WSJ
• 73.4% don’t read any edition of Architectural Digest
• 71.4% don’t read any edition of Conde Nast Traveler
• 70.5% don’t read any edition of Travel + Leisure
• 60.6% don’t read any of the above titles at all
• Less than 1 percent read The Economist, Town & Country or Monocle
We did find that many of these self-made elite travelers read trade magazines specific to the industries in which they had made their fortune.
This fits into the profile of today’s UHNW consumer, a group of individuals who were never the prototypical aspirational consumers flipping through glossy magazines and eyeing things they couldn’t afford. Instead these elite travelers feverishly pursued an idea, and through their persistence and focus, made it pay off. Now they are living “the private jet lifestyle” .
How do you take advantage?
The opportunity as one analyzes the above results is to get more share of wallet from these “have money, will spend, need motivation” consumers. If one looks at Oracle’s Larry Ellison, he grew up being taken care of by relatives in a blue collar Chicago suburb. As we all know, he is not only uber-rich but an uber luxury consumer. Clearly for marketers who want to tap into the 1%, Elite Traveler is the answer:
For full results, please click here.
“Recently we had an American customer who walked in with a copy of Elite Traveler and booked two suites that been directly featured in the magazine. The value of the booking was in the region of $200,000.” – Tony Potter, Corinthia Hotels
2. Elite Traveler’s Jessica Michault – Fashion Power Player:
She writes Men’s and Women’s Runway Reports for our Global and Asia Editions. She pens her must-read, must-buy Watch Trends column every issue. The former Online Style Editor of The International Herald Tribune who worked for more than a decade under legendary Suzy Menkes, Jessica Michault has been a stalwart for Elite Traveler readers since 2006. We are delighted that Jessica has been named to Business of Fashion as one of the industry’s top power players, movers and shakers alongside luminaries such as her mentor Suzy Menkes, Anna Wintour, Bernard Arnault, Francois-Henri Pinault, Giorgio Armani, Roberto Cavalli, Donatella Versace and a runway of shining stars. Combined with New York-based Style Editor Drew Taylor (selected by the prestigious JA Show as Guest Stylist this past July) our dynamic duo influence what the global private jet set of over 700,000 elite travelers wear! “Elite Traveler is a key media source for us with well over $200,000 in sales we can track directly back to our ads in your magazine over the past year.” – Charles Krypell, Owner, Charles Krypell
3. The Definitive List: Elite Traveler Top100 Real Estate List Coming in January…
The Elite Traveler Top 100 Residential Real Estate Developments in the World is the definitive guide for our global elite travelers to the best of the best in residential real estate developments.
The ranking will be based on quantitative data in over 30 categories from location, to market appreciation, schools and services, national GDP, billionaire population, high net worth population, price per square foot, branding, amenities and services for residents.
The feature will run in the January/February 2014 issue of Elite Traveler and Spring Edition of Elite Traveler Asia, which like all issues, will be distributed to private jets in over 100 countries. It will also be promoted via a year-long multiplatform program including digital, e-marketing, social media, direct mail, and press recognition.
“From the Summer Edition of Elite Traveler Superyachts, as well as the Asia Edition including the May/June issue we are happy to report sales ($437,000) of the timekeepers we advertised” – Patrik Hoffmann, CEO Ulysse Nardin
All the best,
Douglas D. Gollan Group President and Editor-in-Chief Elite Traveler, the private jet lifestyle magazine Elite Traveler Superyachts, the superyacht lifestyle magazine Elite Traveler Asia, Asia’s private jet lifestyle magazine Elitetraveler.com, the private jet lifestyle online Elite Traveler Update, our weekly e-Newsletter to private jet owners worldwide