High-end watch brand Omega China market strategy

In the sales volume of about 1 million watches per year in the Chinese market, less than 100,000 high-end watches have a unit price of more than 8,000 yuan, but it is this less than 10% of sales that account for over 50% of sales.

Such a seductive market has become the constant driving force for many high-end watch brands in China.

Omega is also a member of the gold rush.

According to the statistics from the China National Business Information Center, Omega's annual sales in mainland China range from 15,000 to 20,000 watches. If the average price is calculated at 20,000 yuan, Omega's annual sales will reach 300 million to 400 million yuan. .

"What is certain is that the Chinese market will become our largest market in the future," said Lu Keqin, president of Omega China and Hong Kong.

For this huge market, Omega's strategy will be adjusted accordingly. Lu Keqin revealed that although Omega's brand policy will still adhere to the globalization strategy, the most important thing is to make decisions based on the specific characteristics of the Chinese market.

“We hope to continue to strengthen the image of the Omega brand in the hearts of Chinese customers.” Lu Keqin emphasized that Omega will not continue to increase its sales network in the next few years. “But we will continue to increase our investment in marketing, including advertising, after-sales services, etc.” In a museum in China, people will inadvertently find a beautiful pocket watch, losing time for hundreds of years, but still Tick ​​ticks one by one. A closer look at the LOGO above is actually Omega.

The brand has entered China for 111 years.

Such a long history made Lukke proud. "The support of this history and market is the trust our Chinese customers have in us."

How to get the trust of customers? Lu Keqin said, "Let the customer happy."

“Money is a dangerous thing. On the one hand, money can support your success; on the other hand, the more money you have, the more you may waste.” Lu Keqin analyzes this when assessing the brand's consumption.

"Every dollar spent on Omega flowers is aimed at our customers."

In the Chinese market, the current Omega has never been seen before. "When the Chinese market was once again expanded in the 1990s, it was really bad for business." Lu Keqin was outspoken about the difficulties at the beginning.

The reasons are manifold. In his opinion, the main reason is that the Chinese luxury goods market has not yet started and the purchasing power of Chinese customers is also insufficient. It's no surprise that Omega suffered a cold fall.

"However, we think this situation is temporary, so we have not lost confidence in the Chinese market."

Omega decided to continue investing in the Chinese market. This is a test of courage and patience. Lu Keqin recalled that Omega has always persuaded Chinese customers to persuade them to use subtle influences on advertising and services, so as to form a kind of awareness that “Omega is the best choice”.

"Our investment is totally valuable." Lu Keqin said with a smile. "Now China's business is already very easy to do. At 1111 West Nanjing Road, we have established our largest global brand flagship store."