Have you guys checked that in 2017 approx 500 billion USD worth counterfeit products was there. So in the name of luxury brand many sold duplicate products. This is where Bow will help in buying authentic products.
Well having this kind of project will really going to give an assuarance to the consumers that they will going to get the right products for them and they don't need to worry even they will going to access it online.
Apart from what is said here, block chain will provide high level of transparency which will be good for luxury market. Too now we are not aware of why the price is so high and these products are luxury products.
To the best of my knowledge, luxury products are expected to be relatively expensive. According to the information we have, the bowtie is expected to be sold at $250 which I consider expensive, regardless of the fact that the materials for making the bowtie are expected to be scarce and used only for the manufacturing of bowtie.
Wow that's really expensive. A product price will really depend on the materials that they've used on making it. I'm just thinking what if the bow project will going to include the materials on their website when they posted that luxury products. I guess it will help too the consumers to know why it's expensive.
yup agree on you, i think customers will be like " why is it expensive, i think the materials used here are very rare". I think everyone needs to know what kind of materials used here.
Another thing considered in the luxury market is social class and status. Considering their high prices, even thought the product are of guaranteed quality, it's not for those below avarage to patronise. I have seen cases where people decided to go for low-grade products which they can conveniently afford than save a whole lot for higher grades.
This is great for the people who love buying luxury product they will be sure that the one they are buying is the authentic one and every material included to that product is being shown so that they will know what it make or how it made it luxurious and they will know why is this luxury item is very worth to buy.
