Luxury Mobile Applications Come of AgeSeptember 19, 2011
Top luxury brands, now well into a few years of e-commerce, and having finally ventured into social media, are determined not to miss the soon-to-explode mobile device shopping party. Luxury Institute research on the wealthy consumer use of mobile devices shows that 76% compare prices via mobile devices, while a rapidly growing 27% have purchased via a mobile device. In addition, 21% report that they use mobile devices to look up respective product information while shopping in stores. No longer online neophytes, and having been in Korea and Japan long enough to see the explosive mobile addictions and the revenue-generating behaviors of Asian consumers, leading luxury brands are gearing up to use mobile applications to create simple, yet powerful, customer experiences on the go. We are near a tipping point where mobile devices will replace the laptop for many activities and transactions and luxury brands are racing to be a step ahead for a change. Tiffany’s recently-launched mobile application for finding your perfect engagement ring is a good example of a simple and practical innovation that seeks to serve its customers. Look for luxury brands to develop many more relevant and powerful luxury apps in 2011.
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