Processing your payment...
Please do not close your browser.

Luxury Watch Market : Opportunity Assessment Research Study 2022 - 2027

Published on: May 2022

Luxury Watch Brands- Key Dominators and Marketing Strategies

Purchasing a high-end timepiece has long been seen as the pinnacle of wealth. It usually signifies the completion of a key life milestone and is seen as a symbol of value in terms of design, quality, finesse and craftsmanship. Thus, when it comes to marketing luxury watch brands, it is significant to stay abreast of the marketing techniques, imprinting a strong image in the hearts and heads of the audience.

Marketing is a necessary component of any business's success. A watch manufacturer, and others, could lose money in capital and taxes if they don't have a good marketing strategy. Increased sales and positive revenue are the result of a strong connection between watch brands and its target audience. Before we jump into the marketing techniques, let’s understand the key dominators of the luxury watch brands in the market.

Asian domination in the market

China is one of the most competitive markets in the world, with a lot of room for luxury watchmakers to enter and compete. Some of the most well-known luxury watch brands are Rolex, Omega, Patek Philippe, Cartier, and Longines. China is currently the third largest export market, according to estimates given by the Federation of the Swiss Watch Industry, which clearly has an upper hand in the global market. Now let’s understand the marketing strategies which are required by the luxury watch brands to knit a stronger audience.

  1. Tell a story

The greatest method to execute an effective marketing strategy, according to digital marketing experts, is to tell a story. Consumers today make a link with a brand if they understand and relate to the storylines created by certain luxury watch brands. As a result, luxury watch brands are able to emotionally connect with their target customer.

  1. Allow influencers to speak to the market

So-called influencers can be found anywhere. They are powerful, but not in the same market.

When looking for influencers, one of the first things to consider is their reach. You should also consider whether their platforms are relevant to your target audience.Breitling, Panerai, and OMEGA, for example, all had diverse beginnings. However, with the right marketing strategy, these companies grew to become major players in the luxury watch industry.

  1. Marketing Strategy

Luxury watch firms must ensure that all background facts and research are in order before designing a consumer-targeted marketing strategy. The best way to jump in this pool is to hire a digital marketing agency, which can chalk out a path for watch brands towards success.

To summarize, the luxury watch brands should harness the power of digital marketing, develop a good concept, target the correct market, and concentrate on their strengths. Learn more about insights with our reports, today!