We think you’ll agree with us when we say, “The challenge companies have is that technology is changing the way customers behave.” With the sheer amount of information, it’s hard to keep up. Here, we’re pointing out two crucial ways in which customers have changed and two ways for you to stay at the forefront of your industry.
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New data suggest that the luxury market is on the rise. Given demographic shifts in the U.S. consumer market, we should be experiencing a luxury boom, not a bust. The affluent are holding tight to their cash and carefully allocating their luxury indulgences to the categories where they get the greatest happiness return on their investment, which increasingly is through experiences and that’s where technology comes into play. With this in mind, here’s a run-down of some of the best examples of VR, AR & MR for luxury brands.
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The global luxury market has displayed a stable growth with increasing diversity. However, challenges are seen in the forecast for luxury brands as they face competition due to the emergence of new trends that have the ability to influence the luxury industry. It is imperative for luxury brands to keep up with trends in order to effectively engage consumers with ever increasing demands.
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It is a necessity for businesses to implement new strategies to avoid being left out in the evolving digital world. More so, it is important to ensure that these strategies are efficient and effective in engaging consumers. Ultimately, it will grant you an edge over competitors and help to optimize your business.
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