Need a famous singer to sing your favourite song at your party? Want a villa on the Palm Island in Dubai for vacation? Front row seats to a fashion show in Milan or New York? Or how about custom made tissues engraved with your Initials for a special wedding? Welcome to the world of luxury concierge services where no request goes unfulfilled. For the right price of course.
Few in the world have had the pleasure of experiencing the wonders that a concierge service is able to pull off. Traditionally a service offered by high-end hotels, American Express has been offering the service to select customers and the price of entry in the select club is not cheap. The service offered to American Express Platinum and Black card holders, is notorious for making possible the wildest of requests. While American Express Centurion Cards are ‘By Invite’ only, the platinum card comes with an annual fee of Rs 50,000 per year, plus the membership fees for the concierge service.
Image Source -The Points Guy
In India, AmEx has been offering these services since 2000. However, since then a number of other companies have also started offering such services in India. Companies such as Quintessentially India, T’Rouge Concierge India, One Concierge, Club Concierge are just a few renowned names in the business. Services can be availed via membership or per on-demand request as well making the proposition really attractive for those last minute special requests. However, membership charges can be anywhere between 3 lakhs to upwards of 10 lakhs as well depending upon the extent of the services. And these are just the membership charges. Depending on the requests, actual cost incurred to fulfill the request vary depending on its complexity.
For Customers who appreciate the fine touch of luxury, wearing a luxury watch or driving a sports car is not enough. Being able to take part in unique & rich experiences is part of the lifestyle and price most often is just a number. With rising disposable incomes, access to internet, and awareness of global culture, the number of people who are looking for such novel experiences has increased many fold. As such, apart from banks, high-end hotels, real estate developers, insurance companies, and startups offer such services. Generally, a white label service, these concierge service providers tie up with other specialised service providers who maintain relationships across industries and sectors to fulfil the customer’s requests.
Rising disposable incomes, global trends awareness and the millennial culture are giving way to a consistent search for bespoke experiences that only a few can afford. While the exact size of the industry is still unknown, the luxury concierge services industry in India is set to grow in India over the next few years to cater to the rising demands for such services. Experts believe that even during a slow down, the luxury concierge services is one industry that would not be affected.
Overall, the immense growth expected for the luxury Concierge services in India is very exciting; but with all enticing opportunities come challenges. With the business being too lucrative due to commissions involved various startups have also started offering such services at a fraction of the cost. And since startups by default are smaller in size, they are able to focus their resources on a particular market far more than global leaders in the industry. Hence, the rise of hyperlocal startups that focus on specific markets such as Genie which is currently focusing its efforts in Chennai. Since startups are lean and tech-adept, introducing automation comes easy. AI-powered chatbots automate customer interaction helping humans focus on more important things such as delivery of services, marketing and business development etc. Onefinestay, a luxury vacation rental operator has recently launched a luxury concierge programme, ‘higher-living’ – the company’s first of its kind concierge service which is available to clients up to 1 year post their stay in any of the onefinestay’s properties.
From travel to exotic locations, exclusive private dining reservations in high-end restaurants, personal shopping stylist at your beck and call, getting authentic artwork from auctions to making Beyonce sing at your party, luxury concierge services is playing the genie to the ultra-rich in the country. And for the right price, all requests are entertained. As long as they are legal and ethical.