#3 Key Points Driving the Changes of Luxury Lifestyle Industry An aggregator system to bring all the luxury data together also helps luxury industry substantially
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
India holds a rich history and along with it come stories about glorious lifestyles, families and cultures. From the gems and riches of the Mughal era to the bank balance of the Ambanis' in today's times, India has been witness to a sharp rise in being home to some of the world's wealthiest and their luxurious lifestyles.
Today's world is all about "Innovate or perish" and the same is applicable across industries, including governments.However, there's more that needs to be done. For example, despite increase in Hospitality industries, chartered planes and Concierge services, luxury connect travel has been seeing a wide gap in the service offering.
What at times is missing in the picture is an assured safety and security for women and people in general when they travel in some random cab, which may not be even your choice. If you wish to choose an elite service for an occasion then you have to run around, as there are too many options and some of you may not even enjoy that negotiation conversation.
Luxury Lifestyle is gradually and rapidly becoming a part and parcel of our regular lifestyle. A lifestyle where you are treated with royalty and yet are affordable. So, radically changing such a market is eventually necessary.
Technology to Help Lifestyle Business
In today's world, technology is constantly changing everything we see and function through its innovations affecting almost every corner of our lifestyles. Rich or poor, technology plays a vital role in many aspects. Ironically so, it hasn't made much of a progress in the elite circle of luxury lifestyle industry. You may raise your eyebrows in dismay but it is true. The elite circle is still driven by traditional concierge services, executive assistants and personal interactions. But gradually with virtual assistants that sometimes take care of all of the above mentioned jobs, technology can soon change the luxury lifestyle industry too.
Guided System to Ensure Quality
An aggregator system to bring all the luxury data together also helps luxury industry substantially. It keeps a traction of the incoming sales, customer profiles, digitalizes the payment system, reduces waiting time to recover the charges from their customers, offers state-of-the-art software to streamline their inventory management system and in the case of a luxury car service, the performance review of the drivers (when customers rate their trip experience every time).
Value for Money
Last but not the least, price models are the main focus when a startup has to disrupt an industry. And the same applies to the luxury industry too. Thanks to many successful startups in mobility or ecommerce that has shown the path to value added business.
