Many (or all) consumers complain in watch forums that watches are overpriced. Even watch enthusiasts complain that prices are higher than ever. If watch sales are down for the past 2 years, why don’t the watch companies simply lower their prices? Don’t the laws of supply and demand suggest that when sales are down, prices will fall as well? Here is why watch prices are unlikely to decrease anytime soon.
This is an open letter to all (micro/major) watch producers about watch prices. Too many watches are overpriced for the value they provide. Some deserve and can command the asking price, while many other “me too” watches are overpriced. Please consider these perspectives.
This is article 2 of 2 (check out part 1 here). The micro brand watch has become increasingly popular among novices and enthusiasts alike. In December, I noted the Most Inspiring Micro Brand Watches of 2016 in the Micro Brand Watch Awards. This article is a continuation of that spirit by introducing and continuing to provide updates on micro brand watch companies.
This is article 1 of 2 parts and features 6 brands. Check part 2 for the other 5 brands. The micro brand watch has become increasingly popular among novices and enthusiasts alike. In December, I noted the Most Inspiring Micro Brand Watches of 2016 in the Micro Brand Watch Awards. This article is a continuation of that spirit by introducing and continuing to provide updates on micro brand watch companies.
I have had the privilege of speaking with many micro brand founders in all price ranges and varying degrees of success. They are inspiring and many of them I look to for their thoughts and analyses on the micro brand industry. One question I like to ask founders is “who buys your watch?” or “who is your target customer?” I have heard very detailed responses all the way down to “I, for one, would definitely buy my watch” . . .”people that like watches” . . .”we won’t know until we start selling them!”…..
While these are a range of possible answers, they can also signal some pitfalls that can come with launching a watch brand. There are many types of watch buyers out there and every brand should be targeting one type and designing their watch in look, feel, and price to appeal to that customer. Some micro brands know their customer very well and do a great job, while others miss the mark. Below is my summary of the types of watch customers out there. Which type of watch buyer are you?
The watch industry is a very complex environment. While it is fascinating in the sense that it thrives off selling obsolete mechanical watches, it continues to baffle many watch collectors. I’ve assembled a simple analogy for the industry. This analogy includes the classic brands as well as the newer prestige brands entering the fray, and also micro brands. As an owner of both traditional Swiss watches and micro brands, this analogy brings both into perspective for me. The analogy starts down a road directly to my heart — food…
This is my review of the most inspiring micro brand watches (producing <300 watches annually) that I’ve had a chance to take a look at in 2016. These are not endorsements, rather a nod to things these companies have done. This is not an exhaustive list — there are quite a few out there and this list is a small sampling of those I have been most impressed with this year. I can’t speak for pricing or value, just for the fact that they have done something unique or “cool” from an entrepreneurial perspective.
In September, we wrote two posts on TiMe22, a Dutch startup company currently on kickstarter with a new titanium wristwatch they have designed. This article looks back at their experience including how they survived on Kickstarter, the bumps in the road, and some of the kickstarter lessons learned. These are generalizable lessons for any micro brand watch company looking to take on kickstarter.
How does a startup watch company get noticed? Have you ever wondered how social media marketing works? We take a look at both topics as we look at three startup watch companies and their efforts to break into the watch industry through marketing. We look at what works, why it works, and what doesn’t work when it comes to establishing and communicating a brand.
There are a lot of watch entrepreneurs and startups out there; this post is the story of one of those companies. This post will cover how these entrepreneurs design and produce watches, looking at their design processes, making prototypes, and finding producers. I will do my best to tell their story so that those interested in going into the watch business know the process, the difficulties, and the rewards of the industry. This is the story of TiMe22.
Can a new watch company really break into the market? Can a new company with no name and no reputation survive? Even if you have no interest in their watches, you have to be curious. Going head-to-head with the marketing power of some of these companies seems insane. Not to mention, their quality is second-to-none; does a micro brand watch company really think they can match this?