Luxury timepieces: blending heritage and new aspirations
Case study: Luxury
Objective
A major international luxury group wanted to gain a deeper understanding of the perception of its timepiece Maisons and their competitors, while also obtaining insight into market trends and buyer profiles.
Approach
An international qualitative study, combining ethnography and brand auditing, conducted across three continents with 130 participants, ranging from luxury goods buyers to high-net-worth individuals (HNWIs).
Impact
The insights gathered have strengthened the marketing strategies of the Group’s timepiece brands: adjustment of product ranges, reinforcement of customer relations, targeted clienteling, boosting of customer loyalty, and recruitment of new customers.
In-depth exploration of luxury timepiece market trends
Understanding of brand perceptions
A qualitative study of target audiences provided a detailed understanding of how watch brands and competitors are perceived—beyond mere numbers and metrics—by focusing on aspects more intrinsically connected to feelings and emotions.
Deep-dive into the dynamics of the timepiece market
This analysis of the watch market highlighted the timeless strength of historic Maisons and the bold creative stance of new niche players, while revealing the trends and early indicators that are profoundly reshaping the sector’s standards, usages, and future.
Comparison of profiles and their motivations
Mapping buyer profiles and behaviors provided a better understanding of customers ranging from regular luxury buyers to high-net-worth individuals, thus bringing to light their motivations, pain points, and factors driving brand loyalty.
Identification of customer loyalty drivers
Pinpointing the factors that drive satisfaction and desirability shed light on the relationship between customers and watchmakers. It revealed the strategic levers to help boost the loyalty of current customers, attract new buyers, and strengthen brand positioning.
Qualitative research that enables timepiece Maisons to understand consumers’ relationship with luxury watches and identify the factors that drive customer loyalty and first-time purchases.
Ilana Rudiakov
Brainvalue
New aspirational drivers for the watchmaking sector
This study provided a comprehensive and refined overview of the relationship between consumers and watch brands. It shed light on the underlying expectations of HNWIs and luxury buyers, identified key differentiators, and helped develop marketing and customer relation strategies tailored to a competitive and demanding market.
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