IDG Contributor Network: Apple Watch will reinforce tech as luxury style
Rolex, Louis Vuitton, and other heritage luxury brands had better be quaking in their boots at the news that Apple will likely be launching a smartwatch next week. Apple has become their competitor, according to luxury marketing experts. Young millennials are no longer eyeing brands for their superficial status. The affluent buyers out there are now beginning to look at products for what they do instead. This is good for us in the tech industry, but not so fine if you're sitting in the Louis Vuitton boardroom right now. Status Creative-class consumers want symbols that "proclaim a new style of status." Status is now based on who the individual is and what they value, not how much money they have to spend, says affluent consumer analyst Pam Danziger of Unity Marketing, in her blog.To read this article in full or to leave a comment, please click here
