LuxuryLab Global: A New Era for the Luxury Industry
The LuxuryLab Global forum celebrated its fifteenth annual event on 7th and 8th September, addressing the significant cultural, economic, technological, and social transformations that are reshaping the luxury industry. Hosted at the Four Seasons Hotel in Mexico City under the theme “Next-Gen: 15 Years of Shaping the Future of Luxury”, the gathering brought together national and international leaders from various sectors, including mobility, design, hospitality, tourism, beauty, architecture, real estate, technology, education, sustainability, media, and consumerism.
Abelardo Marcondes, founder and CEO of LuxuryLab Global, highlighted that this year’s event marks a pivotal moment in understanding the extensive changes occurring in the definition of luxury. He emphasised that perceived value is shifting from mere ownership of goods to prioritising experiences. “The future of the luxury industry will not solely be defined by what we can create through technology, but by what we can preserve as human beings. The true luxury of the next generation will be about generating emotion, belonging, and purpose. It is essential to innovate without losing our essence,” Marcondes stated.
Insights shared by the Boston Consulting Group illustrate the scale of this transformation, with estimates suggesting that approximately 62% of global luxury expenditure is now experiential. Discussions during the latest LuxuryLab Global highlighted five key trends that are influencing all luxury-related industries. Consumers are increasingly prioritising experiences over possessions, with elements such as time, health, wellbeing, and longevity being viewed as new forms of wealth.
Emerging Trends in Consumer Behaviour
As the third trend, speakers agreed that a greater presence of technology, including artificial intelligence (AI), enhances the value derived from creativity, empathy, and human connection. This trend underscores the necessity to champion authenticity, local identity, and community to mitigate the risks of standardisation. Lastly, the fifth trend revealed that brands and companies are now facing more conscious consumers who demand quality, traceability, durability, and evidence of the social impact of their operations.
In her presentation, Fflur Roberts, Head of Luxury Goods at Euromonitor International, noted that the luxury industry is maturing, with consumers increasingly questioning whether their purchases justify their prices. “Luxury is no longer just about what we own, but about how we want to live,” she remarked. Roberts believes that Mexico is well-positioned to leverage its culture and hospitality to offer high-level experiences that resonate with emerging generations of consumers. Javier Esteban Carrascón, Managing Director of Condé Nast Mexico & LATAM, highlighted that Generation Z consumers “desire not only extraordinary products, but also extraordinary moments.”
To meet these expectations, Carrascón stressed the importance of active, two-way listening rather than merely analysing consumption habits. He asserted that luxury KPIs should evolve from mere transactional metrics to building long-term relationships, as trust, recommendations, and a sense of belonging become increasingly vital alongside simple sales.
The Role of Technology and Human Connection
Addressing the new demands within the luxury sector will require professionals who possess a blend of technical expertise in emerging technologies and phygital experiences, alongside soft skills such as cultural intelligence and effective communication. Alessandro Cannatà, Director of Luxury and Brand Management at SCAD, emphasised that in an era dominated by AI, these skills will become ever more critical. “It is up to us to leverage AI to our advantage or allow it to surpass us,” Cannatà stated.
This sentiment was echoed by Tony Ventura, AI Expert & CEO of Tony Ventura Technology, who discussed the implications of AI growth. He warned that while the execution of ideas may become more affordable, original concepts will become scarce, making distribution paramount. Although technology can facilitate greater levels of personalisation, Ventura cautioned that the communication surrounding the luxury industry risks becoming standardised, thereby increasing the value of creativity, original ideas, community, and networking.
Acknowledging Excellence at LuxuryLab Awards
During the event, the LuxuryLab Awards 2026 were presented, recognising three distinguished figures from various fields. VisitMalta received the LuxuryLab International Award 2026 for its global positioning and the way it integrates heritage, culture, gastronomy, and tourism. San Miguel de Allende was honoured with the LuxuryLab National Award 2026 for its cultural, tourist, and creative projection. Lastly, Mauricio Rocha was awarded the LuxuryLab Award 2026, celebrating his architectural journey rooted in context, community, and purpose.
The 2026 edition of LuxuryLab Global conveyed a clear message: the future of luxury will not be dictated solely by what consumers can acquire, but by the experiences they wish to create, the time they choose to invest, and the memories they cherish. This shift will undoubtedly transform the relationship consumers have with brands, as technology and AI tools, while becoming increasingly prevalent, must enhance rather than replace essential elements such as creativity, empathy, culture, and service. These aspects are crucial for fostering effective, long-term connections and catering to consumers in search of meaningful, memorable offerings aligned with their values.