Effect of technology on games for luxury brands

It is expected that by 2030 the world of the luxury market will change a lot. These changes will occur with the advancement of technology. It is considered that Generation Z will become the most dominant company with the use of technology. Nowadays everybody has access to smartphones even 10 years old children can use a smartphone. Smartphones have become a gateway to look outside world. The world has become a global village. All humans are connected through an internet with the use of advanced digital gadgets. Is has been observed that in next 10 years KLOs will take the place of out dated Marie Claire, vogue.

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The whole generation is digitally connected. People prefer to use technology more than physical involvement. So the need is to update luxury brands and made them more advance and mostly digital. At this time only a little number of luxury brands are working on advance techniques. Most of the brands still out dated and they required to be updated according to the need of time. But updating doesn’t mean to get more involve in technology, but also physicals transaction affairs has also to be updated. The physical store of luxury brands also needed to be update according to the need of time.

Physical stores can be digitalized by education its workers about the needs of customers. Trends can be learned from the real time data analysis. This analysis will help too understand the interest of customers and to provide suitable things at particular store at a particular time.

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Technology is a key to make the success rate of luxury brands high. Take an example of watch making company. Traditional watches are replaced with digital watches.  A drastic change has been observed by the introduction of digital watches. The brands that are not well known are highly affected by this change. It is expected that watch industry will face more changes in future. This change is may be due to cost of different watches. People prefer to get every advance version of watch with the passage of time. It is a business technique and most of the companies are unaware of it and they are using old methods. Mostly outdated companies are unaware of the need of customer. Advance companies will take advantage of this thing, as new versions are coming over time so it will attract more customers and as a result a great benefit to company. 

Another other industry which has disturbed by all this advancement is automobile industry. In the past engines were the parameter to determine how advance a company is. A brand was considered to be luxury id it make 8,10,12,16 engines. It is expected that in 2030 there will be no or less  need of traditional engines as with the advancement of technology  there will be trend of self driven and electric cars. In future cars will not only use for driving but they will also become a complete package of comfort, work place and entertainment.

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Along with company advancement storytelling of brand must be updated. As some people are also interested about brands start up and evolution. Technology is a key for small companies to become popular.  The more advance a luxury brand is, the more customer it will attract.