How well do you know your socio-economic and demographic grouping acronyms?

Abercrombie & Kent founder and LUX contributor Geoffrey Kent discusses how a new generation of consumers are influencing brands

How well do you know your socio-economic and demographic grouping acronyms? From the best-known, like Yuppie and Wasp, to the more recent, Sinbad – there seems to be an acronym for everyone.

If you are a frequent reader of my columns here on LUX or if you’re familiar with our luxury travel company, Abercrombie & Kent, you might be forgiven for thinking that we concentrate on attracting Dinkies, Tinkies (two incomes, nanny and kids), Glams (those who are greying, leisured, affluent and middle-aged), or even Rappies (retired affluent professionals), but in fact, we, like all brands, are increasingly turning our attention to the Henrys.

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Nothing to do with the Hooray Henry, this term was coined by Fortune magazine and stands for ‘high earners, not rich yet’, Henrys are those on their way to affluence, but not quite there yet due to high living costs and other factors. While Henrys span both the millennial and GenY generation, it is millennial Henrys, which are of so much interest to entrepreneurs and their marketers for two simple reasons.

Firstly, their numbers: as revealed in an all-important announcement in 2015 from the U.S. Census bureau, millennials (born between 1980-2000) surpassed Baby Boomers (those born between 1946 and 1964) as the largest generation in the U.S. (where this type of research frequently seems to stem from and of interest to me because of A&K’s American offices (A&K is headquartered in both London and Downers Grove, Illinois). Plus there are many, many more of them in comparison to their parents’ generation.

Secondly, their spending power: from now until 2040, millennials will be entering their prime spending years. They will be the key consumer segment driving the world’s economies.

The millennial generation had its biggest birth year in 1990, so using them as an example, the top 20 per cent Henrys (high earners, not rich yet) born in 1990 earn over $50,000 per annum and the top 10 per are earning more than $75,000 a year approximately. They are well on their way to affluence, and are more educated, better informed and setting the trends that other millennials will emulate.

And with millennials driving economies, as brands try to win their business, millennials will change the businesses and their offerings, thus affecting us all. They are driving what is coming to be called the ‘experience economy’, moving from consumerism towards experientialism (read more about how they are redefining luxury travel here). If you have a subscription to a streaming service and no longer purchase DVDs or boxsets for example, it’s all down to millennials and this trend. If you have noticed more travel companies urging you to experience a destination like a local or learn something on holiday, you now know who the cause is. This isn’t exactly new ground for A&K – we’ve been encouraging travellers to make horizon-broadening connections since the early 1960s – plus ça change.

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Millennials and the Henrys among them are focussed on value, not price point, and interested in feeling proud of their purchases and the things they do. They are design-led, crave authenticity and want for everything they do to be climate positive (or at a bare minimum, neutral). They are the type to choose a travel brand that is philanthropic and does good in the places in which its guests travel (such as A&K). They want a curated experience, that does no harm (i.e. is socially responsible) and that is Instagrammable. They share their experiences in the same way that their parents related theirs at dinner parties.

They are searching for a connection to their communities, other cultures and the world at large. Travel is a practical way to process and respond to an increasingly complex globe.

Thanks to childhoods, lifestyles and the psychology of millennials, they are the ‘Do It For Me’ customer – exactly the type that appreciates a well-travelled and knowledgeable travel expert who will arrange their luxury holidays for them. A match made in heaven? Who knows, but it certainly was a match made sometime between 1980 and 2000.

Discover Abercrombie & Kent’s luxury travel itineraries: abercrombiekent.co.uk

The Horizontal Falls in Talbot Bay are regarded as one of the greatest wonders of the natural world. Image courtesy of Abercombie & Kent

Fresh from an expedition to the South Pole, Abercrombie & Kent Founder and LUX contributor Geoffrey Kent is planning his next trip to Australia’s last frontier: the Kimberley. Here, he shares his exclusive itinerary

At journey’s end, any passionate traveller knows the conflict of wanderlust: the more destinations you visit, the more you desire to see. Having completed another hugely successful and enjoyable expedition, to the South Pole at the very end of 2018, my thoughts are now turning to other exciting destinations for the intrepid.

In the far western corner of Australia lies a rugged and rarely seen frontier, enveloped by dramatic coastlines, gravity-defying waterfalls, ancient indigenous art and sheer wilderness.

It’s a vast and beautiful landscape of red dirt as ancient as the country’s Aboriginal history and as far away from the Australia trope as you can get. It’s the Australia we often read about but don’t often witness. It is, of course, the Kimberley.

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Revered as being one of Australia’s last frontiers, the Kimberley occupies almost 17 per cent of Western Australia, stretches for 421,000 kilometres and is as idiosyncratic as it is extreme. Home to sacred indigenous rock art, caves, and shelters as well as crashing waterfalls, rugged coastlines, unforgiving deserts, and limestone ranges, the isolation of this part of the planet only adds to its beauty.

Rock formations in the Purnululu National Park known as Bungle Bungles. Image by Ben Carless

But when it comes to exploring the Kimberley (an area larger than 75 percent of the world’s countries), it could be hard to know how best to go about visiting, especially if, like me, you crave adventure by day, luxury by night. The answer, of course, is boutique cruise ship or superyacht, backed up by helicopters and small fixed-wing planes. The feeling of climbing into a cosy bed with high-thread-count sheets after a day exploring a land off the beaten path – off any path, really, is indescribable.

Let’s begin a journey to the Kimberley:

Broome

A country township built on the mother-of-pearl industry, Broome had to quickly reinvent itself when the arrival of the now innocuous plastic button ended the world’s need for mother-of-pearl almost overnight. Luckily Broome is splendid, so when the town switched its focus from trade to tourism, business continued to boom. At its most popular during the dry season (April to October) Broome’s beauty really becomes apparent at sunset – particularly if you’re lucky enough to witness the Staircase to the Moon, Western Australia’s version of the Northern Lights. This natural phenomenon happens when the full moon rises at a low tide and casts its glow over Broome’s exposed mudflats. What’s left is a stunning optical illusion of golden steps rising out of the Indian Ocean. It’s best seen from Roebuck Bay, but you can catch it all along the coast.

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Bungle Bungles

These stunning rock formations are found among the remoteness of the Purnululu National Park and have been sculpted by millions of years of erosion into the tiger-striped, beehive domes they are today. You must see them from above to appreciate the sheer scale of this fascinating and fragile rock massif, which stretches for more than 240 square kilometres.

The Lacepede Islands are home to green turtles and many bird species. Image courtesy of Abercrombie & Kent

Lacepede Islands

Set atop a coral reef, these four low-lying cay islands are an important nesting site for green turtles and several bird species including brown boobies, red-chested frigates, crested terns and speckled ruddy turnstones.

Horizontal Falls

Hop aboard a boat and take a trip to see Horizontal Falls. This phenomenon can be found in Talbot Bay. David Attenborough called these falls “one of the greatest natural wonders of the world” – the horizontally flowing waterfalls are created when massive tidal currents squeeze through two narrow gorges.

Swift Bay is the site of ancient rock paintings

Mitchell Falls

Take a helicopter ride across the rugged Mitchell Plateau and over the top of the sandstone-carved Mitchell Falls and its tumbling cataracts. Alight to explore the area on foot, perhaps enjoying a refreshing swim in the emerald-coloured, pristine freshwater pools formed by the falls.

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Swift Bay

Named after the author of Gulliver’s Travels, Jonathan Swift. Located in the Bonaparte Archipelago and sacred to the Worrorra people, Swift Bay is the site of an incredible array of indigenous rock – the Wandjina (or Wanjina) style as well as the older Gwion-Gwion (or Bradshaw) style.

If I’ve ignited your curiosity and you can feel a visit to this historical and mythical part of the world becoming paramount, join the club, I’m fixated on the Kimberley. Meet you there?

Abercrombie & Kent will be hosting a Luxury Expedition Cruise to Kimberley in 2020. For more information visit: abercrombiekent.co.uk