Your business will occur entirely online
Internet shopping is all about perceived value of features and price, and you are competing in an extremely price-conscious niche.
This is the stone cold truth.
Find a way to eliminate cost and features people don't need. Then add a feature that is proprietary and very unique to your product.
We try to make the bag look stylish, and see that as a unique selling point. About all those smart features, I think we are still a transition period where more people to get to know the not-that-new smart features. I can see you wouldn't agree that smart luggage has a big market, but we think there is, and there should be more brands other than Bluesmart.
And then go out at a very low price and lose money for a year building an audience.
And I totally agree to start at zero/negative profit to build the audience.
Thanks, really helped a lot. I shall keep you updated here if you are interested.