It’s a common misconception that technological innovation is directly counter to a luxury brand’s ethos. But in fact, when we look more closely at one of the hottest technology trends, it’s no surprise that luxury brands are helping pave the way towards technological revolution with Virtual Reality (VR). Virtual Reality is hitting the luxury yacht retail and making big waves for the future.
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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 technological landscape is constantly progressing with new innovative products springing out more often. This attributes to changes in the way luxury brands approach their marketing and sales tactics, integrating new technology to increase the effectiveness of their businesses. It is certainly necessary for businesses to quickly adjust in the digital age; they need to learn how new technology can help to increase the effectiveness of business as well as integrating them into future marketing plans.
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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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