In the nearly 15 years since I began collecting watches in earnest, the watch industry has experienced significant growth. The last couple of years, however, have been a challenge. Inflation, geopolitical events, and other headwinds have now emerged. This has resulted in a tough market and high retail prices. So, what should brands do to reignite the passions of collectors and buyers? We don't have all the answers, but we discuss the topic in today's episode.
Yes, it's tough out there, and while there's plenty of interest in timepieces, the watch industry is working through a slow period. High list prices have exacerbated this, and we haven't even brought up the potential effect of further tariffs in some countries. How should brands navigate these challenging times and drive demand again? That's our topic for today. Enjoy!
Handgelenkskontrolle
Before we tackle our main topic, we discuss the recent Hungarian Grand Prix. Then, we mention recent travels to South Beach, where amazing watches were on display. Regarding our wristwear, Mike is wearing an under-embargo Aquastar. There's not much to say about this upcoming piece other than it's a diver and that it's a relatively thin watch. Balazs is sporting the SpaceOne Worldtimer, a wild blue titanium watch with an in-house module.
Does the watch industry need to reignite the passion of collectors?
Mike shared that several brands recently reported that the second quarter was incredibly challenging. This gave rise to our topic about whether the watch industry needs to retrench and figure out how to excite collectors. Sponsoring events and opening single-branded boutiques fit the traditional definition of a luxury brand, but is it what buyers want? Furthermore, have these luxurious touches contributed to prices that are now out of reach for some potential customers? We discuss these thoughts and more. In the end, we don't have the magic answer on how to create more foot traffic. We would love to hear your thoughts, though!
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