Apple and the new 'introverted' premium

Bill Chidley has some interesting thoughts on premium products in relation to Apple at BrandChannel:

Premium is often regarded as synonymous with luxury, and signaling luxury relied on showing off what society regarded as scarce or difficult to attain. Luxury is an extraverted idea. [...]

Today premium is no longer an extraverted, but an introverted idea, thanks to Apple. There is certainly social currency in having a Macbook, iPhone, or the soon to be cool Apple Watch, but they represent a new kind of premium not about scarcity or pampering, but about potential. The luxury of potential does not rest on the cultural symbols of a society based on privilege, aristocratic splendor, or the imperialistic conquest of exotic furs and spices. Apple represents the unlocked potential of achievement, not the spoils. This is a game-changer for all premium brands, and will require re-tooling or we will see new, introverted premium brands quickly overtake the old guard. For younger affluent consumers, a Tesla is more desirable than a Mercedes, and the Apple Watch may well be more desirable than a Rolex, because they are more than products- they are accessories for a new attitude. This new attitude redefines what is valuable around who is in our lives, our sense of purpose, and how we engage, not what we own.

Source: BrandChannel via The Tech Block