Many in the industry discuss the preferences and lifestyles of clients, but what does the current wealth landscape actually look like? As detailed in The Superyacht Annual Report: Wealth (published later this month), Knight Frank predicts that by 2022, the number of individuals with a net worth of $5 million will have grown to over three million (3,475,310 to be precise), a 73.3 per cent increase since 2012. How will this impact the superyacht industry?
The opening session of The Superyacht Forum (held from 12 - 14 November) will illustrate the state of the world’s wealth, and dissect the methods needed to engage with this growing number of UHNWIs. In addition to expert – and superyacht-specific – data presentations collated by The Superyacht Intelligence Agency, the panel will also feature speakers from leading wealth and luxury data organisations. Joining Martin H. Redmayne and William Mathieson from The Superyacht Group, are Liam Bailey, global head of research for Knight Frank, and Joris Onderweegs, associate partner at Eden Mccallum.
The theme of The Superyacht Forum this year is ‘The Perfect Customer Journey’, and as the opening session will illustrate, there is a huge potential for the market to expand to new regions and new clients. In light of this, the industry needs to address how we market ourselves to those who are interested in chartering and purchasing a superyacht. If there is to be a shift in the way the market is perceived by the UHNW world, how can we better facilitate it? In the session 'Marketing to the Next Generation', two marketing professionals from within the superyacht sphere –Farouk Nefzi, Feadship and Kiran Haslam, Princess Yachts – will look at how their brands are adjusting to the ever-changing superyacht landscape.
The industry needs to address how we market ourselves to those who are interested in chartering and purchasing a superyacht. If there is to be a shift in the way the market is perceived by the UHNW world, how can we better facilitate it?
The focus on the environment is a core component in reshaping the language surrounding superyachts. It would seem self-evident that almost all of those involved in yachting would also be ocean advocates, therefore how can we showcase the opportunities for collaboration, as well as the organisations that are working together to help the planet? One such organisation is WaterEvolution, an innovative model that promotes sustainable scientific-based approaches to significantly reduce the environmental footprint of yachting, from the manufacturing of the vessels to the operational activities on board. The session ‘Changing Perceptions: WaterRevolution’ (taking place on the first day of the Forum) will explore the ways that the superyacht industry can support marine scientific research and conservation projects, and how effective practices are seen in other industries can be applied to our market.
This panel includes leading industry figures including sailing yacht designer Philippe Briand, Henk de Vries, Feadship; Robert van Tol, SYBAss and Vienna Elutheria, the founder and scientific director of WaterEvolution. Those involved with WaterEvolution will also be joined by sustainability experts from outside the superyacht sphere, including Richard Vevers, CEO and founder of The Ocean Agency.
The conversation between the yachting community and sustainable organisations is beneficial to both groups, especially exploring the use of vessels for scientific purposes. It’s now becoming easier than ever for owners and crew to collaborate with ocean advocates, and the examples of the REV project and Ray Dalio’s Alucia and Alucia2, showcase the extent that the yachting can become involved in proactive sustainable programmes.
These sessions at The Superyacht Forum are linked by a common thread: understanding (and influencing) the mainstream perception of yachting, in order to engage with new types of client. As the pool of potential superyacht customers grows and becomes increasingly diverse, it’s vital to move yachting on from how it has traditionally been perceived by the wider UHNW community.
To see the rest of the programme and secure your place at The Superyacht Forum, click here.
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