According to the Euromonitor International, China’s overall watch market sales in 2016 reached 65,8 billion yuan (RMB). It is expected that by 2020, the Chinese watch market will reach 79,4 billion yuan. What are the news trends on Chinese watch market, if you only consider luxury brands, then you are missing a big part of the market growth. This article will provide you information about Chinese consumer’s taste and some trend on the watch market.
The chase after personality and uniqueness
According to a survey of mainland middle-class consumers conducted by HKTDC Research in 2016, the top reasons that consumers wear watches are: “to bring out one’s personal taste and image” (50%), “a liking for watches” (49%), “as an accessory” (48%) and “time telling” (40%). A considerable number of respondents agreed that “wearing a watch would give an impression of maturity, stability and punctuality to others”, or that “wearing a watch would give a better image on business occasions”.
Chinese mainland consumers have developed their own taste and became more demanding in terms of watches design. For many Chinese consumers, watches are something more than accessory, it is valued as something that is expressing their unique personality and their status, which is in Chinese society is very important
Chinese luxury consumers have already collected all famous high-end brands and so, nowadays they are more attracted by new brands with new fashionable designs. Also, Chinese fashionistas have tendency to seek for watches that will express their uniqueness.
Quality watches are the most wanted
the high-quality watches in China are considered as a “luxury product” for Chinese customers and especially the watches manufactured in Switzerland seem to be of high quality product for the Chinese. Chinese consumers prefer to spend on expensive but quality product than cheap and poor quality product.
Different expectation among consumers
Among male consumers, ownership of business watches was highest (69%), followed by casual fashionable watches (69%) and smartwatches (55%). For female consumers, ownership of casual fashionable watches was highest (83%), followed by smartwatches (55%) and business watches (51%). When buying watches, men are generally concerned with brands while women are concerned with style and design.
The increase of Smartwatches market
In recent years, smart watches and smart bracelets have been stuck in development because of lack of innovation and homogeneity. However, the growth rate of smart watches is still accelerating in China and the demand is strong.
With the rising of the awareness about sport and healthcare, Chinese people start to spend on sport stuffs a lot. Smartwatch is one of their favorite tool. By the way, at present many manufacturers choose to cut in from the health side “Google has been Health Guide”, helping users record fitness conditions and set fitness goals through Google Fit or other third-party applications. In the future, they will also increase investment in this area.
Also, consumers will pay more attention functions such as make calls, mobile payments, and music playback. According to Jingdong Big Data, users of smart wearable devices are mainly white-collar workers and campus users which white-collar users will prefer smart watch products. After smart watches get combined with voice interactive features, this will allow to release human vision and hands.
Want to market your product in China ?
Use WeChat for relevant content
Chinese consumers have been too much harassed by commercials offers and ads, so you need to think differently than your competitors. WeChat is not an easy social media where you can promote your brand. You can rely on WeChat to spread your content.
WeChat is an application basically used for communication. These years, it became a platform which has multiples functions and services. A lot of brands and companies use it nowadays for promotion and being in touch with their customers.
Use Little red book to target a large audience
Little Red Book is a rising Shanghainese app, dedicated to e-commerce and … to shopaholics! What’s the principle of Little Red Book? The application targets working women between 18 and 35 years old. It is therefore a dynamic and connected clientele, exclusively female, mostly urban and rather aware of new trends. Little Red Book is a platform that allows buyers to discover new products, share their customer reviews of these products and exchange ideas and tips.
Chinese consumers are more willing to purchase online because of the convenience and the greater range of available items on e-commerce platforms. Nowadays, Chinese consumers have a huge appetite for foreign products and e-commerce platforms have become the channels of choices for Chinese shoppers looking to purchase such items.
Our Case study
What is the situation of WeWood ?
WeWood Watches are 100% Natural wood watches made from reclaimed and repurposed woods of various varieties from around the world. The current marketing strategy of the brand is that « for one watch sold, the brand will plant a wood ».
Chinese consumers are very interested by this kind of special watch and the design made of wood is also attractive for a lot of young Chinese people. WeWood need to raise its online presence to be visible by their target consumers.
How do we market WeWood in China?
We managed a social media campaign for the brand, increasing its e-reputation and promoting its ecommerce platform on Chinese network.
Concretely, we created articles on WeChat, which reached 5906 views per month. Set up a WeChat store (& » watches sold per month); we also help to build a presence on Weibo with 15 posts and 1 events created, which gained 1173 followers and huge sharing on the social platform. Our new favorite digital tool Little red book was also part of this marketing operation, opening a new store on it.
Gentlemen Marketing Agency
GMA is specialized in the digital marketing in the Chinese market. We have developed many successful e-commerce projects because we know how to effectively promote your e-commerce business in China by using the latest digital tools.
At this stage of development, China has a lot of booming industries. This is a promising and huge market with its own culture and way to function. Want to start a business in China? Do not hesitate to check or services here or contact us.
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