Singapore Yacht show – Asia’s leading yacht and luxury show is here. It is the only yacht show in Singapore, which is fully supported by Global Yachting Industry and Singapore Tourism Board. Like all the previous ones, the 8th edition of the show is going to be a great place to discover some of world’s finest yachts and super yachts in an elite and highly social setting.
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There’s quite a buzz about Virtual Reality (VR) lately.In fact, VR has existed for many years, but its approach to the mass market has continued to be honed and perfected.The popularity for VR continues to grow. That means the luxury retail market brands, including yacht professionals, are starting to get fatigued by the various outreach requests for adapting to new technologies.
Here, we have a list of 7 common questions about VR!
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It’s a common misconception that technological innovation is directly counter to a luxury brand’s ethos. But in fact, when we look more closely at one of the hottest technology trends, it’s no surprise that luxury brands are helping pave the way towards technological revolution with Virtual Reality (VR). Virtual Reality is hitting the luxury yacht retail and making big waves for the future.
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Virtual reality and 360-degree videos are right now among the most talked about topics in the field of technology.A number of companies have started exploring these technologies in order to give their brand an edge over the competitors.Here, with the help of infogographics, we’ve discussed some of the basic differences between VR and 360 videos.
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We think you’ll agree with us when we say, “The challenge companies have is that technology is changing the way customers behave.” With the sheer amount of information, it’s hard to keep up. Here, we’re pointing out two crucial ways in which customers have changed and two ways for you to stay at the forefront of your industry.
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New data suggest that the luxury market is on the rise. Given demographic shifts in the U.S. consumer market, we should be experiencing a luxury boom, not a bust. The affluent are holding tight to their cash and carefully allocating their luxury indulgences to the categories where they get the greatest happiness return on their investment, which increasingly is through experiences and that’s where technology comes into play. With this in mind, here’s a run-down of some of the best examples of VR, AR & MR for luxury brands.
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The advent of virtual reality in the automotive industry dates back to 2013, when Ford used an ultra-high definition VR lab to enable engineers and designers based in different locations around the world to work together on vehicles in real time.The next remarkable use of Virtual Reality was made by VOLVO in 2014, on the launch of XC90 SUV .Since then, VR automotive application has stepped beyond the R&D labs and factories, and entered showrooms and homes. With VR headsets, consumers can test drive any car of their choice just by sitting at their home.
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The global luxury market has displayed a stable growth with increasing diversity. However, challenges are seen in the forecast for luxury brands as they face competition due to the emergence of new trends that have the ability to influence the luxury industry. It is imperative for luxury brands to keep up with trends in order to effectively engage consumers with ever increasing demands.
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The technological landscape is constantly progressing with new innovative products springing out more often. This attributes to changes in the way luxury brands approach their marketing and sales tactics, integrating new technology to increase the effectiveness of their businesses. It is certainly necessary for businesses to quickly adjust in the digital age; they need to learn how new technology can help to increase the effectiveness of business as well as integrating them into future marketing plans.
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According to the white paper, “Five Luxe Trends for 2015” by marketing expert Pam Dazinger, millennials will have the highest potential to become the largest spending generation in history by 2035. Bain & Co also predicts that millennials will heighten the value of the luxury goods industry to $324 billion, accounting for 45% of the market by 2025. This entails a challenge for many luxury brands as research reveals that traditional business models do not resonate well or align with their values and expectations.
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Virtual Reality (VR) increases the effectiveness of marketing strategies and improves sales which eventually leads to a higher profit margin. With the wide array of benefits from using VR, real-time customization is one of the notable few. Here, we will take a deeper look and explore the advantages of real-time customization for yachts.
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It is a necessity for businesses to implement new strategies to avoid being left out in the evolving digital world. More so, it is important to ensure that these strategies are efficient and effective in engaging consumers. Ultimately, it will grant you an edge over competitors and help to optimize your business.
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The year of 2018 entails a big leap for Virtual Reality. Since the initial launch of the innovative technology, users have seemed to struggle with the hardware required for VR as the systems have to be connected to an external computing device in order to work. The VR headsets are usually tethered to a PC or gaming console because of the high requirements for computing power necessary for the hardware to work.
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Virtual Reality (VR) has been growing increasingly popular amongst brands across all industries. It is changing the way information is being distributed to consumers and opening more opportunities to attract the interests of potential clients. While most of you may have interests regarding this innovative technology, there may still be burning questions on how to fully integrate VR with your business and product.
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2018 kicked off with The Phuket RendezVous, a luxury event focused on Yachts that unites the most important brands of the industry in Asia. During the event, our main goal was to provide important names of the industry with the experience of being on a yacht in Virtual Reality. And these are our takeaways
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