How to Create your watch brand
Do you have a plan to start your own watch brand, or are you looking for a new supplier for your current watch brand? If so, you may be wondering how much it will cost to get started.
When you conducted market research,you will find the watch industry is highly competitive. Some old watch brand like Timex,Fossil,Michael Kors seem have taken over the majority of the market.But with correct business strategy and close cooperation with watch supplier, some new brand like MVMT，Daniel Wellington,Olivia Burton, Cluse, Rosefiled and other young brand have broken though their tight encirclement and made a huge success.
Some entrepreneurs are encouraged by the success of Daniel Wellington and MVMT,Hence they want to step into watch business and try to figure out why they can succeed. One of the secrets to their success is that they partnered with an experienced professional who can handle every aspect of the watch business, from guidance and creative direction to watch design and manufacturing, to packaging and pricing.
When you start your watch brand or find a new watch manufacturer,You’ll need to consider:
Set the retail watch price
Let us explain more about those 5 points.
Once you decide to step in to the watch business, you need do some market research.That will help you to find where your potential customer are and what kind of watch they like.
Then you will have a general idea of the watch style to matches your target audience’s expectations.
And you also know your watch brand position is.for instance,Is your brand like Daniel Wellington .Or you want to start a new smartwatch brand like apple.
.Watch purchase cost,delivery cost and Storage charges
.How to sell the watches( e-commerce,brick-and-mortar stores,wholesale,etc)
Different sales model and marketing channel decides the market price and selling expenses.
Especially shopping page are important.It should have beautiful watch image,watch specification,shipping day,return and exchange policy.
More complicated website and content means more cost.
Or If you have watches store in your city,the budget should contain the store rent,employee salary,etc.
As we said before,the watch industry is highly competitive,so it’s vital to draw up a perfect and careful marketing plan.
Generally social medial marketing is one of the fastest methods to promote your brand and build a loyal audience group.You can post the high quality product image ,high content ,useful tips like how to change the strap,how to adjust the strap length.
If the followers have any question,please answer them within 24 hours.
In order to strengthen the bond with followers, you should regularly organize activities that they can participate in. The activities can be based on their complaints, what style of watch they want, and what change they want to make based on current model etc.
If you have adequate budget,you also attend local events and trade shows to increase the influence and gain more awareness.