On October 28, the first "Wan Table Cup" Golf National Tour officially kicked off in Nansha. However, the highlight of the day was the celebration of the third anniversary of the "Behemoth Dialogue." The dialogue session took place over a cup of coffee, featuring notable figures such as the editor-in-chief of the Chinese "Perfect Time" watch magazine, the director of the Beijing Collectors Association, Chang Wei, and a culture and horology teacher. Following this engaging discussion, we had the privilege of interviewing them, focusing on the topic of e-commerce and small watch brands.
1. **Regarding the current state of consumption in China, e-commerce has become a major trend. However, watches are typically seen as high-end products, while e-commerce represents more of a mass-market approach. How do you see the future of e-commerce in the watch industry?**
This requires an understanding of positioning and internet-driven thinking. First, different target audiences lead to different levels of market vitality. High-end products cater to a smaller, more exclusive group, while lower-end options attract a broader audience. The watch market, much like a pyramid, has fewer people at the top and more at the base. High-end or branded watches must align with the purchasing power of their consumers. For example, recent graduates are unlikely to buy expensive timepieces, but as individuals' social status and financial situations improve, they may gradually move up the scale.
In today’s digital landscape, the internet offers cost-effective access, which encourages a more rational and sustainable approach to consumption. By adopting an internet mindset, we can promote healthier consumer attitudes. Integrating luxury watches into e-commerce platforms not only provides more choices for consumers but also opens new opportunities for niche brands to grow and thrive.
[Image: A photo of Chen Jian master (left) and Chang Wei teacher (right) after maintenance]
2. **You mentioned small watches earlier. What characteristics do you think help niche watch brands survive and succeed? For instance, product quality, brand heritage, or unique cultural elements?**
If someone understands the market, they won’t be overly concerned about what exactly a brand is. Even niche brands have their own distinct personalities and features. There are countless small brands around the world that stand out through unique designs and craftsmanship. Brands like Bo Gao, for example, showcase remarkable attention to detail. While big brands may offer prestige, their mass production often leads to a loss of individuality. Small brands, on the other hand, can focus on fine craftsmanship and advanced technology. Take Paco Rabanne, for instance—it's often referred to as a "small PP" but still delivers exceptional detail. As long as these brands invest in quality and differentiation, they can carve out a space in the market and gain loyal customers.
[Image: A photo of the teacher being interviewed by the editor of Million Watch World]
3. **Do you think the future of the watch industry will rely heavily on e-commerce, and how might this affect people's consumption concepts?**
For a long time, we've been exposed to large, well-known brands. Being surrounded by them has subtly shaped our perceptions, making us associate watches primarily with high-end names. However, this is more about psychological perception than actual differences between brands. The gap exists in our minds, not in the products themselves. Swiss watchmaking represents innovation rooted in traditional craftsmanship, and the internet serves as a powerful platform to spread this concept. E-commerce creates a more balanced and accessible environment for consumers, offering convenient choices and shifting the traditional view of luxury consumption.
Due to the limited time available, we had to wrap up the interview. However, we gained valuable insights from the conversation. E-commerce is undeniably a growing trend, reshaping not only how people consume but also how they think about luxury and value. (Text / Fu Xue Ting, Million Watch World)
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