There’s nothing quite like the allure of the latest must-have high-tech gadget, and from the newest smartphones to the most sought-after drones, cameras and TVs, for the wealthy, being amongst the first to lay hands on the latest and greatest innovations is one of the greatest pleasures in life.
Most of us waste no time in placing an order on launch day or joining the waiting list ahead of time, and the most exciting gadgets to come to market each year quickly become status symbols that the masses aspire to own.
But everything comes at a price, and as the prices of luxury items like these continue to surge, so too do our expectations. For the discerning customer, the latest iPhone or the newest tablet is expected to be the pinnacle of the most up-to-date technology and a state-of-the-art gadget that exceeds all those that have come before it – and rightly so.
Like luxury watches, these ‘halo products’ are in such high demand and can’t help but be noticed when you walk into a room. Which, let’s face it; is all part of the appeal. But as our expectations continue to climb and we want more for our money no matter how much we happen to have in the bank, luxury brands must do all they can to remain at the forefront of the fast-moving tech world.
Our evolving demands don’t just relate to the products we choose to buy, but the brands we choose to shop with and the kind of service they provide, too. Today’s luxury customer expects a seamless and stress-free experience, and a personalised approach so that they don’t have to waste time – and brands that fail to take note of this may find themselves losing some of their biggest-spending customers to competitors, regardless of the quality of their products.
In 2023, we want more for our money, and we won’t accept anything less than the best. These are three of the biggest key tech innovations discerning consumers have come to expect from their tech products and services, as well as the brands and platforms they shop with.
Tailored recommendations
Receiving a bespoke service is one of the hallmarks of a luxury experience – whether that’s hiring a personal shopper to pick out an outfit to suit your lifestyle, colouring and requirements, or a specialist perfumery that will craft a unique fragrance to fit your natural scent. As such, it should come as no surprise that those who want the best in life have also come to expect this from their technology services – and now, more so than ever before.
However, while a personal shopper comes with an impressive price-tag, many of us now get to benefit from a bespoke service online as par for the course. This is because of the rise of algorithms and recommendation engines that sift through vast amounts of data in order to anticipate our wants and needs, and furnish unique recommendations to meet them, and today there are many sectors associated with glamour that have fully adopted the benefits.
Take the world of casino gaming as a key example. While bricks-and-mortar venues are still going strong, a growing number of busy professionals have come to prefer playing table classics online, and from the comfort of their own home – which is where platforms like CasinoBonusCA come in. Directories such as these collate the very best gaming providers available in a given region – in this case, Canada – and serve up a wide array of bonus offers, free spins and sign-up deals to suit the predilections of even the most discerning aficionados – making it quick and easy to access the very best entertainment sites in a matter of minutes.
Diverse payment processors
The world’s jetsetters are accustomed to redeeming payments in multiple time zones and currencies, and with the rise of FinTech services, this process has become easier than ever. Leading FinTech banks such Revolut and Starling have made it possible to convert cash between fiat currencies in just a few seconds, and crucially, these services also offer competitive exchange rates when compared with physical bureaus de changes, making them an attractive prospect for those seeking a seamless and user-friendly experience.
What’s more, future-facing consumers are now increasingly open to the notion of holding funds in cryptocurrencies. In light of this, goods and services providers – such as Tesla Automotive – are looked upon favourably for providing patrons with the option to make payments with decentralised monetary tokens, and the adoption of crypto in such a way is gathering momentum throughout the world of luxury.
To stay ahead of the curve, luxury brands will do well to ensure that they are offering their customers the widest range of point-of-sale options possible – and many are already striving to do just that. By allowing customers to pay in eWallets like Apple Pay, and even crypto-currencies, brands can make a strong statement when it comes to their tech-savvy credentials, and will also ensure they never lose a sale on a mere technicality.
Smooth operation and clean aesthetics
When paying upwards of £2,000 for a folding smartphone, it goes without saying that you would expect it to deliver as much in a functional sense as it does an aesthetic one – preferably, more so. But unfortunately, this isn’t always the case, especially when it comes to innovative new products that push the envelope of design and engineering.
To some extent, it is simply an unavoidable fact that early adopters of the latest tech gadgets and devices must occasionally tolerate some irritating bugs, glitches and malfunctions, as these can take time to iron out.
For this reason, some consumers prefer to stick with slightly more conservative designs that have already been proven to work effectively. Apple has built its reputation as the world’s most lucrative tech company on the public perception that, unlike the competition, its products ‘just work’. And what’s more is that in most cases, this is true.
The reason for this is that Apple seldom adopts a new technology quickly, instead preferring to wait until the major bugs and issues have been worked out (often at the expense of its rivals) before bringing a new device to market.
The MP3 player had been around for years before the iPod, and the smartphone category was already growing into a dominant consumer segment some five years before the first iPhone graced the stage. Apple’s luxury appeal is rooted in this slow and considered approach, and brands that seek to emulate this are certain to do well with those with the budget to choose from across the marketplace.
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