In the previous articles about Panerai and Jaeger-Le-Concord, we all mentioned that Piaget "ate 0 eggs" in the sales of the watch business in the Tmall flagship store in September 2021, and there were many cousins who left messages and wanted us to talk about the story. Now, the time has come to November, and the sales of major watch brands on the Tmall platform in October have been counted, and sure enough, Piaget still has no improvement in the watch business. In this issue, we will talk about the Count's things.
September-October watch business continued to "eat 0 eggs"
Judging from the sales of the watch business of Richemont Group's Tmall flagship store from September to October 2021, Piaget has achieved the result of "eating 0 eggs" for 2 consecutive months, which is naturally at the bottom of Richemont Group, which can be said to be quite sluggish.
To say which brand Piaget should compare with at Richemont, I think it should be Cartier. The reason is also very simple, these two are jewelry watch brands in the traditional sense, in terms of watches, they have the strength to produce super complications and fine jewelry watches, and the two brands of watches are the most basic entry models, and both men's watches and women's watches have them. But from the perspective of sales, the gap between Cartier and Piaget is still very large.
What should the Count learn from Cartier?
In the previous article, we also analyzed that Piaget's main volume in the Tmall flagship store is the basic quartz steel model when the operation of the series of watches, the public price is divided into 37,600 yuan and 40,400 yuan, because the watch dial and bezel have some small diamonds, so the overall price is much more expensive than the Cartier base quartz steel tank must.
Cartier's watch business can achieve good results on the Tmall platform, which is inseparable from the outstanding performance of the tank series. The main volume of the tank series is also the model of the basic steel quartz, which was previously a tank solo, and now it has been replaced by a tank must, with a public price of about 20,000 yuan. Tank Must is a steel solar quartz watch, the classic design, the belt is made of plant fibers of environmentally friendly materials, and there is not much else to say.
In this way, the entry threshold of Cartier watches is not high, less than 20,000 yuan can buy a popular Cartier watch, compared with Cartier's status to the royal family, is there a certain cost performance?
In terms of brand recognition, Cartier is higher than Piaget in China, which of course is also reflected in the sales level. Piaget's starting price in the field of watches is higher than Cartier' price, which has led to the loss of some basic users. For these basic users, they have purchased products at a relatively small price, and with the improvement of consumption power and a good experience for the brand, this will form a certain degree of consumption upgrade, which is one of the reasons why many luxury brands can have sustained vitality.
In the competition in the field of traditional mechanical watches, Cartier and Piaget are very disadvantaged, giving people the feeling of "making watches unprofessional". Even if Cartier and Piaget have won many awards at the technical level, for the vast majority of consumers, they are destined to be high and low, at most some blow money after tea and dinner. In addition, Cartier has done a good job in product planning and marketing, strengthening the competitiveness of the basic model, pulling the design full, even if you are a movement with no technology to speak of, with the design and brand, you can also harvest the users that the brand wants, and the price is well controlled.
In addition to the above-mentioned tank series, in the official flagship store of Cartier Tmall, cartier blue balloon and white balloon series also have a good performance, which is another supplement to brand sales, making the composition of brand sales more diversified. On the other hand, Piaget, in addition to the time to run the series of watches, there is no other series can go. This makes Piaget very passive, as long as there is no sales volume in the series, it is easy to sell "eat 0 eggs", which is a very bad status quo for brand development. Piaget's second growth point in the field of watches, the need to find other series and develop potential, especially in the field of women's watches, there are indeed too few watches that can be remembered.
Write at the end
Before writing this article, we also found an interesting phenomenon, in the domestic watch forum, Piaget's watches are basically polo series, the reason is actually very easy to understand, this series is the main sports men's watch, like a round non-round design, and has the reputation of "little nautilus". Like Jaeger-Le-Con, Piaget Men's Watches is slow to sell in the Tmall flagship store, in addition to the reasons at the product level, it is more because the price to pay for this series of watches in the Tmall flagship store is the highest.
As of press time, many fans have come to leave us a message, talking about the Earl Polo series of watches, not only the counter has discounts, but also the discounts in the secondary market are also very large, and there is no need to buy them at the Tmall flagship store. Here, we also hope that the Piaget brand can understand the real situation, at least to achieve the same discount as the direct store, and perhaps there is a way out. What do you think?