subject: The growth of famous brand watches demands in the developing country [print this page] The emerging economies are the places where there is a need to penetrate with your brand of luxury watch. The developing countries are increasing their wealth, the number of educated people is also increasing, and the need for spending is also there. More women are going to work in the emerging economies and hence the demand for more luxury watches for women.
The replica watchdemandmarket is huge but with the price tags attached to these watches, people are a little bit reluctant to buy these watches. This has given rise to the replica watch market which is able to sustain itself as they charge you a small amount when compared to the price of the original watch. The desire to dress up well in these timepieces is the key to the sale of these luxury watches.
The emerging economies are the places where there is a need to penetrate with your brand of luxury watch. The developing countries are increasing their wealth, the number of educated people is also increasing, and the need for spending is also there. More women are going to work in the emerging economies and hence the demand for more luxury watches for women.
The watch industry is now targeting economies in India, China, Brazil, and Russia. In mature markets like in US and UK, the people are buying these luxury timepieces but this is affected by the unemployment and reduction in earnings. There has been a change in consumer targeting. Emerging markets like in India and China are able to provide growth in sales for the watch industry, by increasing the numbers that are sold. There is scope for pushing organic growth in these emerging economies. Retail expansion is made to slow down and then the price of luxury watches is fixed. The luxury watch companies are spending huge sums in marketing and brand building. The aim is to hunt for profits by having very smart prices for the watches.
Different brands will have different kind of sale. There are some brands that are accessible to all. These brands are priced economically, are of average quality, and are very functional in nature. Then there are the aspiration brands that are highly priced. These brands are aspiration and when people have that extra amount of money they go and buy these watches from the stores. Then there are absolute luxury brands that are very expensive. The very wealthy people can only afford these brands of watches.
The market of luxury watches in China is a little different from the market for luxury watches in India. China has a distribution channel that is regulated by the communist government. In India they have a more open market where more can be pushed through the market. These luxury brands of watches are also made in China and then distributed the world over. In Russia the economy is regenerating once again and the demand for these luxury watches is growing. Brazil economy or the African economy is also requiring these luxury watches.
The growth of famous brand watches demands in the developing country
By: Roger
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