{ "docId": "019dd923-5de0-76bd-a16a-5035606772fa", "docSlug": "499423190bd2a1a5", "documentTitle": "The State of Fashion Luxury", "authorId": "McKinsey", "authorName": "McKinsey", "documentKindSlug": "consulting-deck", "documentKindLabel": "Consulting deck", "sourceTypeSlug": "strategy_consulting", "sourceTypeLabel": "Strategy consulting", "presentationDate": null, "orientation": "landscape", "aspectRatio": 1.333, "pageNumber": 45, "pageCount": 53, "prevPage": 44, "nextPage": 46, "slideType": "ceo_quote", "function": "illustrate_case", "density": "dense", "nDataPoints": 1, "notes": "The slide features a large background image of the St. Regis New York bar and a three-column text layout containing the interview response.", "elementsJson": [ "photo", "paragraph" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-5de0-76bd-a16a-5035606772fa/45", "deckHref": "/decks/019dd923-5de0-76bd-a16a-5035606772fa", "deckJsonHref": "/decks/019dd923-5de0-76bd-a16a-5035606772fa.json", "deckAnchorHref": "/decks/019dd923-5de0-76bd-a16a-5035606772fa#slide-45", "components": [ { "bbox": null, "kind": "callout", "text": "We are clearly attracting a different consumer because they want the Ritz-Carlton experience, but they don't want the cruise experience.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd952-2e34-7719-b4c4-fd765bfa74b0", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.56, "w": 1, "x": 0, "y": 0 }, "kind": "image", "text": "The St. Regis New York. Marriott International.", "attrs": null, "subkind": "photo", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "61310006-824a-46d7-8683-ce566b0f2967", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.3, "w": 0.9, "x": 0.05, "y": 0.6 }, "kind": "paragraph", "text": "On that experiences front, Marriott is experimenting with some new formats, the all-inclusive resort, the Yacht Collection. What have you learned from these projects and what else might be in the pipeline? Part of our mission is to make sure that we are in places that you want to be, whether it is physical places or experiences. Part of our strategy is really to grow our ecosystem, and to continue to keep [customers] interested and keep them loyal. All-inclusive is a great one. Whereas at one point, all-inclusives were seen as bad buffets and cheap booze, our mission is obviously to turn that on its head. We [opened] our new, all-inclusive, luxury collection, called Almare, right outside of Cancun [in October]. We’ve signed a couple of Ritz-Carlton all-inclusives. We have a W all-inclusive that we’ll open next year in Punta Cana. We just launched our second yacht, the Ritz-Carlton Yacht. Again, when you think about cruises, one can conjure up in your mind what that looks like. Ours feels like a Ritz-Carlton at sea. About 50 percent of people that sail on our Ritz-Carlton yacht are new to cruise. We are clearly attracting a different consumer because they want the Ritz-Carlton experience, but they don’t want the cruise experience. The other thing that we are seeing and that we are acting on is this consumer wants adventure and they want new and exciting ways to travel. We launched the JW Masai Mara Lodge a year ago. That has done extremely well — since then we’ve also signed three Ritz-Carlton tented lodges and camps, and several other JWs, as well as Luxury Collection ones.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "b1be52e9-653a-4cb9-9a58-c572a1ed9fd8", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "We are clearly attracting a different consumer because they want the Ritz-Carlton experience, but they don't want the cruise experience.", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd952-2e34-7719-b4c5-00ae7413389b", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [ { "name": "CEO quote contradiction", "slug": "ceo-quote-contradiction", "agent": null, "layer": "slide", "matchId": "2506abcc-9217-4863-ace8-633b323514aa", "evidence": "We are clearly attracting a different consumer because they want the Ritz-Carlton experience, but they don't want the cruise experience.", "confidence": 0.6 } ], "frameworks": [], "arcBeats": [ { "to": 50, "from": 41, "beatId": "6b1e07b7-782a-4e3b-92fd-fe0535215e5e", "arcName": "The Consultant's Gambit", "arcSlug": "consultants-gambit", "beatName": "Impact & Next Steps", "beatSlug": "consultants-gambit-impact-next-steps", "evidence": "The report provides examples of companies that have successfully adapted to changing market conditions and offers guidance on next steps.", "position": 4, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "loops": [ { "to": 50, "from": 41, "name": "Jobs To Be Done", "slug": "53-jobs-to-be-done", "bestFor": "Product innovation, market entry, competitive positioning", "matchId": "be017af6-9410-4f0a-9f07-3073d22b2398", "evidence": "The report provides examples of companies that have successfully adapted to changing market conditions and offers guidance on next steps.", "position": 1, "objective": "Show how luxury companies can evolve their strategies to meet changing customer needs", "structure": "The Customer's Job -> Current Solutions (Hired/Fired) -> Unmet Needs -> Our Solution Fit", "confidence": 0.7, "description": "Reframe the problem around what the customer is trying to accomplish, not what they're buying" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }