The situation I see is the more robust the strong brand in the field of replica luxury watches, the weaker the disadvantaged brands, and there is no intermediate road. In the past five years, solid and poor brands have done almost the same thing, taking the initiative to move closer to young people and please young people.
Based on this result, the market direction is sometimes not executed to the right or wrong strategy. Even at the level of implementation, there is no obvious evidence that solid brands have done better.
The wheels of the times are rolling forward, and the relay stick of luxury consumption has been handed over from the 80s to the Millennial and Z generation. Statistics show that more than 60%of luxury buyers in China are between 20 and 35. They grew up in a golden age of social drama and the rapid accumulation of wealth. Many young people have an ideal family environment, receive a good education, and can participate in the tide of Get-Rich-QUICK, such as the Internet, real estate, and financial investment. Therefore Enough economic strength to splurge on luxury goods, advanced watches are a must-have option on their shopping list.
Young people have brought considerable challenges to the marketing strategy of luxury goods in China. Although they have created unprecedented opportunities for good opportunities, luxury managers need more understanding. Fortunately, in the past ten years, thanks to the rapid development of mobile Internet and digital branding, China has become the most developed country in the world in the world. From the size of goods, payment methods to logistics services, from early Taobao and JD to interest, The fast-moving hands of Shang Di Yin have become a model for the development of global e-commerce, which has also accumulated a large amount of data that is difficult to count. Therefore, we can label the young consumer groups, find their consumption habits and preferences, and provide essential support for marketing luxury brands.
There are two primary sources of income from luxury consumption. One is the rich second generation. Consumption depends on parents’ grants, and the form is mainly fixed pocket money. Although the rich age hopes to give children a better life, with the progress of the times and the change of social concepts, it becomes more and more restrained in the direct application of money. Therefore, they often do not support the rich second generation. Say freely. Managing a fixed monthly pocket money has become a popular means. It is said that the average level is 5 to 150,000 per month.
The other is a young and high-income person who has eaten their efforts, been educated well, successfully entrepreneurship, joined the Internet to create a wave of wealth, or worked in the financial investment industry.
While mainstream consumers are younger, there are also some typical trends in the luxury watch market. We can also observe similar changes in luxury goods industries other than watches.
Head concentration
Unlike consumers in the post-70s, the millennials and generations are more willing to buy head brands, such as Rolex, Audemars Piguet, Omega, Cartier, and IWC. From the annual brand sales rankings released by Switzerland, it can also be seen that the proportion of head brand sales has increased yearly. For example, Rolex has increased almost in the past five years. There are more than ten brands of Swatch Group.
Two-level differentiation
Young people’s demand for clocks is far beyond the function of reading time but as one of the social tools. As a part of wearing, the watch represents the wearer’s economic strength and fashion taste. Watch historical sales data shows that young people buy smart watches represented by Apple Watch or high-end traditional watches at more than 30,000 more. Classic eyes at the low-priced price are facing the passive situation of the market under the market, and no transfer or a way out at this time.
Although the luxury consumption capacity of young people is high, they are often very scattered, have a wide range of interests, and have a lot of money. Therefore, the budget that finally falls on high-end watches is minimal. With the increase in age, consumers’ interests must have differentiated. Some people love cars, some love watches, and some people love to travel. Human beings have gradually developed from special blog love to love. Therefore group. They are relatively mature and spend money repeatedly on purchasing watches, but this group is usually not young.
Many young people around me will choose to buy a high-end watch, such as Rolex or Audience. They are not concerned about other brands and will only return to the watch shop shortly after buying them. The look is not so much personality to them as a social tool. It is necessary but not beneficial. Therefore, choosing a well-known and expensive explosion is even enough in this category.
Green Sword Fish, Black Samurai
Therefore, it is easy to understand that the consumption of young people on luxury watches is more concentrated rather than scattered and personalized. Based on the number of head watch brands, they efficiently undertake a considerable proportion of purchasing power, leaving only a narrow space, allowing all other brands to compete, and finally tossed to death. Unfortunately, the market will not be softened and changed because of the hard work.
At the same time, it is tough to change brand positioning, which is almost a Mission Impossible. Many brands have tried to change their traditional positioning to meet the needs of young consumers. Generally speaking, there are two possible practices.
Change the product
For example, launching a new sports series or shifting marketing focus on the sports series products, the Radar’s Captain Cook (Captain Cook) can be regarded as one of the representatives. The launch of Captain Cook is widely welcomed by young people based on sports and leisure watches. However, changes are not always smooth, and their twin brothers have been “challenged” simultaneously as “opportunities.” Creating a new product series is not overnight. The development of marketing promotion and product depth requires a short time. Another area for improvement is that the progress of the sports series is challenging to drive the comprehensive revision of brand power because the new series of launches is only to follow the trend. It needs to be more innovative, and the brand needs sports genes.
Reorganize
Explore the entry price of the product to attract more young people to buy. In the short term, the amount can be increased. Still, in the long run, it will affect the brand’s price positioning and have a particular psychological impact on potential guests of conventional price products.
Judging from the current known market practice, brands can become more successful by increasing the magnification of their advantages—the efforts in the Super Fighter series. But to win young consumers through changes in brand positioning, there is no precedent for success.
The Internet has made massive amounts of information in real-time, so we once hoped it would be a genuinely flat and transparent world today. But this is not the case. The advanced algorithm function in the era of big data makes the primary information repeatedly topped. The secondary information is unattended and disappears at the vast end of the Internet world. The consequences of this reality are the lack of and disappearance of independent thought and the choice of commercial consumption.
When you see countless social media praise the products of the head brands (other brands of information are not traffic, either based on algorithms or lack of market investment support), consumers’ subconscious response is that I don’t have more choices, so “one for all” can help consumers make a purchase decision quickly. Watch enthusiasts understand that the “labor” in the “one and for all” here refers to Rolex replica watches.
Fashion fields, such as the clothing and bag industry, are the main battlefield for luxury goods to fight for young consumers. In addition, the brand also actively explores new types of communication with young people, including using the joint brand to create explosive models or cooperating with well-known artists to launch a high-profile and expensive artist series. These practices are successful in the fashion industry and have become the traffic password for many brands.
The watch industry is relatively traditional and conservative. From the brand’s marketing model to the changes in the purchase preferences of guests, they are as slow as snails on trees. Therefore, when the watch brand noticed that young people became the leading consumer, they changed their products and positioning to attract young people, but they found that they fell into a new strange circle. Young people need to move for this, and sound-selling brands and products are still the brands and products that have been sold before. Just as the “post-90s Li Ning” did not attract the post-90s, the watch brand actively pleased it or enhanced the favor of young consumers. It is just like a single love, which does not cause genuine empathy, but it is easy to recruit people. The young and rich consumer groups either follow the trend of the other fashion or find out to find out, which also makes many luxury brands need clarification.
Although comprehensive analysis is required during the re-enrollment, one of the questions that must be questioned is: do so much in the past, is there any compromise?
Green Blini series, single-button multi-function timing, limited to 100
Create iconic products, adhere to the brand’s original style, and do not lick the dog like a dog to please the young consumer groups, but at the same time, build the beautiful image of their brand in their hearts. Propositions that should be seriously considered.
I mean, although luxury brands have recognized that young ethnic groups have become the main body to support the growth of luxury goods, they also spare no effort to move closer to the young ethnic groups and try their best to win their favor. Unprecedented changes have not received positive results nor brought more significant changes in the market. This weakness is mainly in the field of high-end watches.