While we look at all-high-end products as being classified as luxury products, this report from Forbes pits the luxury and the technology industry against one another.
This report states that market analysts have been said that the technology industry could be the biggest threat to the luxury industry. Companies such as Apple are vying for the same consumers and being chosen for functionality over status. The article points out that people are not willing to pay full price for a luxury item yet pay full retail without hesitation for the latest high-tech products. It is a situation that is baffling many purveyors of luxury goods.
While electronics are more disposable today than ever, people are purchasing technology at full retail prices much more than they are luxury goods. What are gadget makers doing right that luxury makers are pitifully failing at?