Photo by Tristan Colangelo from Unsplash

Foodservice is the next hot ticket for luxury maisons in Asia

Over 30% of young respondents are seeking new experiences outside of brands.

Several luxury maisons have entered the F&B market as a draw for more experience-driven consumers, reflecting the shift of luxury retail in the Asian market.

According to global analytics company GlobalData, the direction of the sector has leaned into the region’s rising disposable incomes, urbanisation, and increasing proclivity for luxury brands among consumers.

A particular consumer base is young shoppers who seek more personalised experiences from brands. 28% of Gen Y and 25% of Gen Z respondents revealed that new experiences from their product purchases can compel them to buy more, with foodservice having the most fertile opportunities.

ALSO READ: Malaysia hot coffee segment to grow 4.5% in 2027

That new inclination is what draws luxury houses to cross over into other specialty sectors. LVMH has explored this kind of engagement with Louis Vuitton opening a chocolate boutique in Singapore, and perfume brand Acqua Di Parma launching Yellow Café in Seoul.

The aim is to cater to intimate experiences with 27% of Asian millennials who seek for “novel/unique to be an essential feature when making purchase decisions”.

“Luxury houses are embracing the trend of experience economy to provide additional sensory aspects by diversifying their portfolio into atypical arenas such as food & beverages to create deeper bonds and build loyalty among consumers,” Tim Hill, Key Account Director at GlobalData Singapore, shared.

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