Here is an article I just read about Apple trying to break into the “watch” market – http://www.bloomberg.com/news/2013-03-04/apple-s-planned-iwatch-could-be-more-profitable-than-tv.html
So let’s say people are willing to wear this expensive digital watch, which I could definitely see being a huge fad for teens and tweens since that age group can’t afford Audemar, Patek, etc… Heck I think these watches maybe with built in GPS would be great for parents, perhaps even some sort of recognition device, although those features are already on the phones that everyone carries. However I don’t see grown adults wearing this (at least not for many generations since most grown adults don’t wear digital watches) in the near future.
However, let’s say that iWatch does become more than just an expensive G-Shock. Let’s say EVERYONE wears an iWatch because we don’t have phones anymore. Let’s say the classic timeless leatherstrap and gold bezel with an elegant dial is able to be incorporated into the iWatch. Perhaps Rolex and Apple teamed up and designed a 10000$ watch that does more than tell time, and looks extremely elegant.
Does that mean the revival of pocketwatches? I mean surely a luxury watch to show that you have good taste on the other wrist would just be redundant. I will say that I think it would be pretty cool to see in the future. Since everyone’s wrist space is taken up by an expensive iWatch, people still want a classic timepiece that shows class and good elegant taste and that’s where the pocketwatch comes in. If the iWatch is in fact a success, I can see a generation of people with pocketwatches.
That is a genius economic move for everyone! Instead of pulling phones out of our pockets, it’s the pocketwatch, and instead of showing off the extremely elegant and expensive timepiece on our wrists, we check our phone messages and e-mails!
Both watch companies and the tech industry win. Anyways I had much more to say about this iWatch and wanted to try more analysis on my thoughts of the potential success of it, and why I think it will fail or succeed in competition with luxury watch companies, but I’m sure Apple has already contemplated these things. I figured it would be more trouble to incorporate all my thoughts coherently than it would be worth.
I haven’t posted in a long time since I got a new job. It wasn’t the most lucrative position but it’s pretty entertaining. Let’s just call it “selling luxury goods.” Things people won’t ever need to survive such as a $40,000.00 pair of earrings. Now this is quite an interesting business. I’ve noticed my personal tastes have skyrocketed. Before I started working here, I thought Rolex made the best watches, and that Express sold expensive clothes. I have no complaints about this job so far, and you meet some very interesting people.
I can’t say where I work because I’m not sure if I’m allowed to, but I wanted to start blogging about the various things I sell, or the business itself. The first thought that baffles my mind is the shopping habits of women (or even men) when it comes to jewelry. Yes the goods I’ve sold are very expensive there is no doubt about that, however EVERYTHING in the store is very expensive, and needs to be in order to stay exclusive.
However back to the shopping habits discussion. Women will come through the store, buy 2-3 handbags and some shoes for $2,000-$5,000 each without really thinking much about it. Sure 1 or 2 of those things might be returned after realizing it doesn’t suit the person as well as she thought. Yet these bags lose value quite quickly considering the lifespan of certain fashion trends.
This isn’t what I’m intrigued by though in terms of psychology. What I’m intrigued by is the fact that women will spend all this money on handbags/purses, yet when it comes to jewelry, they cringe at the idea that they might have to spend over $300.00 for a nice pair of earrings. Let’s take jewelers and rip-offs of jewelry designers out of this equation, because quite frankly every single luxury in this world can pretty much be copied. Back to the point: the woman will spend between 2000-5000 per bag (sometimes buying multiple) yet cringe when she realizes she has to spend around that same price to get a beautiful pair of F-H color diamonds in 18k white gold. Instead she would rather buy a set of cubic zirconias in some sort of cheaper base metal setting to go with her new Celine bag for the big party that night.
I’ve come to a few conclusions but it still confuses me. One thing I thought was that: bags are big and noticeable and show the name on it so people will know. Well so is a very nice watch (some often have noticeable designs like the Hermes H -watch for 2100.00) yet women fear buying a lovely artistic timepiece over a nice bag. Sure you won’t see a name on a pair of hoop earrings, but you can often tell if someone is wearing something real or just a bunch of crystals placed into a metal. Not only that but many designers have very recognizable features on jewelry where they won’t even need a name and are known simply because of design.
DISCLAIMER: The content of this blog do not represent the thoughts or ideas of my employer. These are the authors own opinions and thoughts. They are not to offend or harm anyone, and comments left are the responsibility of the writers.