More than just a relationship between consumer and brand, subscriptions cater to the cautiously conscious, spend-savvy consumer while offering entry into a shared community. Not to mention the sustainability credentials won through offering a circular economic solution that allows these consumers to shop responsibly without the extra effort. Why have the stress or pressures of owning and upkeeping something, when you can have a monthly upgrade, regularly scheduled servicing or wear the latest designer dress without the cost? Even better, you don’t have the responsibility of the resale. We’re seeing a huge uptake in subscription services, from designer clothes to hotel stays, they are transforming the concept of ‘ownership’. Paired with a powerful personalisation algorithm that recommends signature experiences to each member based on their preferences, that universal want for on-demand everything five seconds ago, just became ten.Ģ) Ownership and ‘success signalling’ will begin to move to subscription, broadening the market opportunity. Velocity Black, a reimagined members club boasting Gigi Hadid and Poppy Delavingne as part of their founding chapter, sells itself as “engineered for those looking to lead a limitless life.”īuilt on breakthrough technologies and a unique conversational interface, their services are available 24/7, 365 days a year with an average response time of 50 seconds from their in-app concierge. This leads to on-demand everything, and when we say everything, we mean it (ManServants included…).Īdvancements in AI tech and interfaces have seen intoxicating developments for the likes of concierge services for the digital age. With the ‘ uberisation’ and ‘ whatsappification’ of the general population’s entire lifestyle, consumers want what they want now, if not five seconds ago. Below, our CEO Anant Sharma breaks down six shifts that luxury brands need to be aware of to stay ahead of the game: 1) Technology has enabled convenience in every domain.Ĭonvenience is table stakes for all luxury brands.
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