Success On The Wrist: A Symbol Of Wealth And Status

The watch has developed to the present, showing a state of polarization. In one group of people, watches were beaten because the various electronic products provided timekeeping functions; but in the other group of people, although the timekeeping functions of watches were ignored, they were given new meaning— — Symbols of wealth and status. Speaking of which, most people suddenly think of Rolex. Among many film and television works, Dai Rolex is a rich man and has been repeated as a truth. Why is it so popular in China? Dr. Zhou Ting, Dean of the Wealth and Quality Institute, answered the reporter’s doubts: Rolex is famous in China, firstly because it entered China early; secondly, because it was particularly willing to spend money on advertising in China and did many brand promotion activities. Hope Rolex becomes a luxury that everyone knows. The Chinese believe in advertising and recognize brand awareness. When they do not have a special understanding of the brand and have not developed a mature consumer psychology, they believe that well-known brands are more reassuring. Therefore, it is Rolex’s unremitting efforts in promotion that has won the support of consumers. Another point is that from the value of market circulation, because many Rolex watches are made of precious metals, which is often called gold watches, so it The circulation value is very large, such watches are equivalent to cash equivalents, which can be directly cashed and traded. It can be seen from the models of Poly’s autumn and spring auctions that Patek Philippe and Rolex are very representative.
    In the view of the lively outsiders, Rolex’s market is still booming, but it is not the first choice for professional players and high-end crowds, and it has only maintained its momentum in second- and third-tier cities.
    Even more sought after is Patek Philippe. It is a top brand, but understated than Rolex. However, Zhou Ting said that the low profile did not affect its brand reputation in China, and it was highly recognized among the high-end crowd. Although in the eyes of the public its brand awareness is not as good as Rolex, but its brand reputation is the highest. Zhou Ting conservatively estimates that in China, as long as the assets exceed 10 million, there will be Patek Philippe’s purchasing power.
    According to Zhou Ting’s observations, a current trend is that many high-end people have multiple watches suitable for different occasions. The function of the watch is no longer chronograph, the decorative function is prominent, and it is developing in the direction of fashion. Consumers buy watches for fashion, decoration and materials, and the popularity of jewelry watches is a case in point.
    Some particularly successful professional watch players tend to buy independent watch brands, which may not be known to the public. The trend of customization has become the preference of high-asset crowds. According to Zhou Ting’s analysis, the richer the more valued customization, tailoring a watch according to his personal preferences and wishes, and may not see the brand from the appearance. Logo, just see the product design. As asset levels have fallen, consumers have become more concerned with fashion and materials. Even lower-end people will buy some fashion watches, such as Dior, Chanel and other models, in this group of people, the watch has become an accessory. The higher-end people tend to be more customized. The lower-end people pay more attention to materials, fashion and brand awareness. This is Zhou Ting’s observation.
    Regarding the recent fierce ‘cousin’ incident, Zhou Ting did not agree with netizens’ view that officials are the main consumer group of luxury goods. She said that as far as watches are concerned, entrepreneurs own more. Some collectible players may own dozens of high-end watches. Watches have three functions: use, investment, and collection. The current function is no longer wearing, but collection and investment, and some investment and collection watches are valuable. It is the instinct of entrepreneurs to make money by investing, so it is normal for so many entrepreneurs to become fans of super watches and buy them in their pockets.
    For identity-conscious watch lovers, Zhou Ting recommended Patek Philippe, Jaeger-LeCoultre and Vacheron Constantin. The reason is low-key and concise.