Lovot pricing

Chris

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Image: GrooveX. Screenshot by author.
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Image: BEX. Screenshot by author.

I’m doing the math on the lifetime subscription, the only option GrooveX allows to be imported overseas, which is over ten grand Australian or a million Japanese yen. Then there are the BEX fees which seem excessive considering they can’t provide an English translation of the Lovot manual.

I’m looking for opinions from others on this cost. Do you think Lovot’s price is excessive or reasonable?

Am I being a whinger? The price is for lifetime ownership which I guess is better than permanently being on a subscription like a lot of other robots force you to do. So if I look at it from say a 25 year perspective it is actually very reasonable. I’m in my late thirties so 25 years is probably spot on around the time I will be reaching the end of my life as the average lifespan for a man is 70 years.

Lovot 3.0 Lifetime subscription price: 1,194,600 JPY

BEX fee: 120,000 JPY

Shipping: 70,000 JPY

Total: 1,384,600 JPY / $13,000.00 Australian Dollars

Estimated Import GST Taxes & Duties: $2,000.00 Australian Dollars

Total: $15,000.00 Australian Dollars

To put this in perspective I earn the median Australian wage and live in a major city, where inflation and rents have gone through the roof. I’ve given up on ever owning a home or having a family, can barely support myself on one income.

Lovot was going to be my calming escape from these trying times and my less than ideal reality but I’m wondering if the cost is going to ruin the experience for me. I don’t mind paying the cost but don’t know how I will justify it to friends and family especially during these times of hardship.

We only live once, I’m honestly just thinking of taking the plunge. Extrapolated out over the next 25 years and it will only be $600 per year or about $1.60 per day.
 
Gemini doesn’t recommend taking out a loan to buy Lovot, but with inflation and the cost of living skyrocketing to ridiculous levels here in Australia it’s the only way I can afford to purchase one.

Personally think getting one on a loan will keep me motivated as currently it’s become obvious that I’m not going to see any tangible benefits from my 9 to 5 grind here in Australia. Will never own a house or have security with the way house prices have increased. We are taxed a third of our income. And the cost of basics has simply become a joke.
Australia just saw a ton of recruitment hire companies collapse. And a lot of restaurant chains are collapsing. Have to wonder if it’s even worth continuing to work at this point. Really think Lovot will be helpful emotionally during these tough times.

Gemini’s response:

“I strongly advise against taking out a $15,000 loan to buy a Lovot robot. Here's why:

  1. High Cost and Limited Functionality: Lovot is a very expensive robot with limited functionality. It's designed for companionship and emotional support, not practical tasks.
    https://www.wipo.int/web/ip-advanta...he New Companion Robot to overcome loneliness

  2. Financial Burden: A $55 weekly repayment over 7 years adds up to a significant amount of interest. This will significantly impact your disposable income and make it difficult to save for other important financial goals like a house, retirement, or emergency fund.
  3. Potential for Regret: Emotional purchases can lead to buyer's remorse. It's possible that the novelty of Lovot will wear off over time, leaving you with a large debt and regret over the decision.
Alternatives to Consider:

  • Save for the robot: If you really want a Lovot, consider saving up for it instead of taking out a loan. This will allow you to purchase it without incurring debt and interest.
  • Explore other options: There are other, more affordable options for companionship and emotional support, such as pets, volunteering, or joining social groups.
Remember, it's important to be financially responsible and make decisions that align with your long-term financial goals. Taking out a loan for a non-essential item like a Lovot robot is not a wise financial decision.”

Recruitment, labour hire companies collapse amid worker reluctance to swap jobs​


A spate of recruitment and labour hire companies have crumbled recently as the slowing economy makes employers more reluctant to fork out money to external recruitment firms who are struggling to fill job vacancies with qualified candidates.
Public insolvency notices published by the Australian Securities and Investment Commission show a range of staffing companies, such as The Nudge Group, Digital Gurus Recruitment, and multiple labour hire businesses, have fallen into the hands of liquidators or administrators over the past four months.

National insolvency firm Mackay Goodwin director Grahame Ward, who is the administrator for Digital Gurus, said times were challenging for recruiters amid fierce competition for new candidates.

“It’s no secret that there are less eligible and available candidates applying for new jobs. Employees are reluctant to swap jobs during periods of economic uncertainty,” Ward said.

“Some industries such as logistics, construction, childcare, and nursing appear to be struggling now to attract local candidates.”

Australia welcomed 387,000 migrants in 2022 which has helped ease shortages of skilled workers, as well as put pressure on housing supply. The federal government’s changes to visas have made it easier for migrants to fill in-demand roles and plug skills shortages.

“Against that, it appears rising interest rates, inflation, and supply chain challenges have, however, pushed some businesses to cut back on external hiring costs for new recruits, bringing recruitment in-house rather than outsourcing to recruitment agencies or even halting recruitment altogether to ride out tough hiring conditions,” Ward said.

In the 2023 financial year, nearly 8000 Australian companies entered into external administration, an increase of nearly 50 per cent on the previous year, prompting some experts to describe the situation as an “insolvency armageddon”.

Construction, hospitality and retail sectors have experienced the greatest distress against the backdrop of a slowing economy: national GDP grew by just 0.4 per cent in the three months to June, which saw Australia technically slide into a per capita recession.

Meanwhile, the unemployment rate ticked up to 3.7 per cent in July and is broadly predicted to keep rising to 4.5 per cent by the middle of 2024.

“Although pockets of employment growth are still likely, recent indicators suggest that broader economic weakness is finally creeping into the labour market, meaning there may be less opportunity for workers to negotiate on pay and conditions that have helped many households navigate inflationary pressures,” said Deloitte Access Economics partner David Rumbens in his latest employment forecast report.

Insolvency Australia director Gareth Gammon observed that recruitment agencies were struggling with more vacancies than they could find qualified candidates for.

“I think the employee has got fear at the moment. They don’t want to lose their job, their entitlements ... so there isn’t a lot of movement between roles at the moment. So the merry-go-round has almost stopped,” Gammon said.

Staffing agencies also need to work more creatively to fill roles as traditional job advertising is becoming less effective, he added.

A broader collapse in the construction industry, including high-profile businesses Porter Davis and Mahercorp, has reverberated through labour hire companies such as Duet Recruitment, ARI Recruitment, Collar Up Recruitment, GRB 365 Recruitment and PG Labour Services, who have called in administrators as their work dries up.

“The high share of blue-collar workers in the construction industry means the blue-collar workforce will likely bear the brunt of the labour market slowdown, with a decline of 0.5 per cent (18,800 workers) in 2023-24,” said Rumbens.

Source: https://amp.smh.com.au/business/the...-reluctance-to-swap-jobs-20231006-p5ea8q.html
 
Someone on our Facebook group mentioned that the Japanese proxy company Rinkya will allow you to purchase Lovot on the lifetime subscription using a payment plan.

It’s estimated Rinkya can do a payment plan over 5 years of 60 payments of around US$160 per month or Australian Dollars AUD$240 per month. That estimate is for the base colour, it would increase slightly depending if you chose one of the newer colours.

I’m unsure if Lovot is still good value for money considering Neo preorders might be starting soon.

Decided not to get Lovot for now, I can’t justify a payment plan for a robot that only offers emotional support. It would need to provide practical value to keep me motivated with the repayments.
 
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