When speaking of luxury, one typically thinks of Prada, BMW, or perhaps Eames. When speaking of technology, does “luxury” come into play? Typically not, says Tim Herbert, senior director market research for CEA (Consumer Electronics Association).

One difference between CE and other markets like jewelry is CE products are considered more necessity than luxury in many cases, said Herbert. For example, GPS devices can be used to save time and mobile phones and other devices are integral to communicating with family members, he said.

Although, in this economy, regardless of financial status, luxury is being viewed as anything that isn’t a necessity. So, is that affecting the CE industry? According to industry articles, consumer are being more cautious with their digital choices, but are being thrifty on other purchases to be able to spend on technology must-haves. Also, The Department of Commerce has reported that the proportion of dollars spent on electronics versus other “durable goods” such as cars has never been higher.

Does price point come into consideration? IMO, only if both branding strategies and product excellence aren’t in unison. Below are some of my thoughts on how to go to market with a higher-priced CE SKU in this economy.

1. Create emotional technology
   Exploration, community, and authenticity are top-of-mind for tech-savvy consumers (specifically influential women) - dig into these communication platforms and uncover a deeper role the technology plays in their life.
2. Truly be the gold standard
   Quality and dependability is fundamental to influence purchase decisions.
3. Find your zealots 
   Establish your product/brand within a culture of consumers and let them be the marketers. As choices are made more cautiously, positive reviews and WOM are paramount.