4 key points that are driving the disruption of luxury lifestyle industry
Changing lifestyle to aspiring individuals brings newer hopes with disruptionRaghav Belavadi
The adage goes “Innovate or perish” is applicable across industries including governments. What at times 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 car for an occasion then you have to run around, as there are too many and may not enjoy that negotiation conversation. Luxury Lifestyle is gradually but rapidly becoming a part and parcel of our regular lifestyle. A Luxury Car, for example, should be ideally is affordable with a premium service and experience. Where you are treated with royalty and yet are affordable. So, disrupting such a market was eventually necessary.
Today’s world is relentlessly propelled by technology and innovations in almost every nook and corner of our lifestyles. Rich or poor, Technology plays a vital role is many aspects. Ironically so, it hasn’t been quite advanced in the elite circle. You may raise your eyebrows in dismay but it is. Most elite circle is still driven by Concierge services, Executive assistants and personal interactions. So, making it easier for anyone to book her/his desired cars for special occasions became vital and critical success factor. Smartphone App, a Website that helps people to pick and choose to rent cars effortlessly was the need of the hour. It was delivered.
An aggregator system to bring all the Luxury cars also helps traditional Car Agencies substantially. It reduces their waiting time to recover the charges from their customers, offers state-of-the-art software to streamline their inventory management system and performance review of their drivers (when customers rate their trip experience every time).
Drivers on another note get to drive posh cars, employee benefits with well known companies and more respectful lifestyle since they don’t have run around on call. They love the job security and enjoy the experience of dealing with a bit more sophisticated customers.
Value for money
Last but not the least, price models are the main focus when a startup has to disrupt an industry. Thanks to many successful startups in mobility or ecommerce that has shown the path to value added business. In Luxury car rentals too, price is a major factor and is heavily coming under the lens. Luxury cars have to be made more affordable, a price model that should be much more closer to customers’ affordable range along with promotions for loyalty programs and retainer focus.