Genesis Focuses on Bespoke Luxury with Short Wait Times
Genesis, the Korean luxury brand, is emphasizing bespoke luxury with its build-to-order program, allowing customers to personalize their vehicles with various color and trim options. This strategy is paying off, as around 50% of Genesis buyers choose to build to order, enjoying wait times of just 2-3 months.
Key Points:
Build-to-Order Popularity: Half of Genesis buyers opt for custom orders, appreciating the personalized touch and short wait times.
Quick Delivery: Genesis' proximity to Korea enables faster delivery compared to European-built brands, a significant advantage in the luxury market.
Wide Range of Options: Despite recent streamlining of model ranges, Genesis continues to offer a diverse selection of exterior colors and interior finishes across its lineup.
Unique Positioning: With its focus on bespoke luxury and fast delivery, Genesis differentiates itself from competitors like BMW, Mercedes-Benz, Audi, and Lexus.
One of One Program: Genesis may potentially introduce its exclusive "One of One" bespoke service, allowing customers to commission truly unique vehicles, further enhancing its luxury appeal.
Implications:
Enhanced Customer Experience: Genesis' build-to-order program provides customers with a personalized experience and the satisfaction of creating a unique vehicle.
Competitive Advantage: The short wait times and diverse customization options give Genesis an edge over rivals with longer lead times and less flexibility.
Brand Image: This approach strengthens Genesis' brand image as a provider of bespoke luxury, attracting discerning customers who value individuality and exclusivity.
Market Expansion: The potential introduction of the "One of One" program could further elevate Genesis' status in the luxury market, appealing to even more discerning customers seeking the highest level of personalization.
Overall, Genesis' focus on bespoke luxury and efficient delivery is proving successful, resonating with consumers who seek a unique and personalized driving experience without the extended wait times often associated with custom-ordered luxury vehicles.
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