Thursday, April 24, 2014

How the Apple iWatch can win over the luxury watch market

When I heard the expected sale price of the iWatch I was not at all surprised.  After all what is $1,000 when Rolex' often fetch more than $10,000 and the iWatch is much more advanced, right?! 

Well it may not win over the Luxury watch market.  Its about more than transistors its a link to the past when things were handcrafted and made with love.  The iWatch will not carry the prestige or the same wrist presence as a vintage Top Time or a two tone GMT. In fact, there is a distinct dislike at this point of smart watches from the Luxury market.  You will need acceptance by that luxury market to be able to position at $1,000 pricing. 

Here's my proposed gameplan for Apple to to win over the luxury watch market:
  1. Do what existing luxury tech watches do well
    1. Accurate Weather Reporting
    2. Mapping and Memory location
    3. Altimeter, Compass, GPS, 
    4. Heart Rate Monitor 
    5. Emergency Beacon 
    6. Keep time ruggedly, dependably, and in a smart and substantial package 
There is no 2.  

Apple should target the successful luxury tech watches and out perform them.  If they try to win over the luxury market with calendars, mp3 players, Bluetooth, NFC, they will likely be shunned at the luxury level.
Posted by Cliff at 1:19 PM

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