You work for a luxury brand or offer a very niche service. Will consumer power be high or low according to Porter's 5 Forces Model?

In Porter's 5 Forces Model, consumer power is high for luxury brands or niche services because customers often have many alternatives, even if those alternatives are not direct competitors. For luxury goods, consumers can choose to purchase other luxury items or opt for non-luxury alternatives, making them less dependent on a single brand. Similarly, for niche services, while direct substitutes might be few, customers can often choose to go without the service or find alternative, albeit less ideal, solutions. This ability to choose, or to forgo the purchase, gives consumers significant leverage. If a brand raises prices too much or provides unsatisfactory service, customers can easily switch or decide not to buy, thus exerting high power.