more than 1 in 10 want a Rolex...

[asiparks]

https://www.watchpro.com/exclusive-m...lex-this-year/

Interesting that TAG is #2 ; the power of marketing....

[peterpl]

Yep not surprising at all.

Rolex is for the masses and that is what their target audience is but their brand perception by the public (i.e) to the non WIS is that they portray them as the best.

[returntorolex]

Poor VC....came in last. Not for the masses, I suspect.

Also interesting the survey was completed by 720 people (presumably RBS customers) for households with income $100k or more. I imagine these 720 will be receiving much more junk mail and spam in the coming months.

[MSchott]

How is this also not the Rolex power of marketing? Of course Rolex watches have far more substance than modern TAG Heuer timepieces but Rolex is the absolute master of creating brand image.

[asiparks]

Originally Posted by MSchott

How is this also not the Rolex power of marketing? Of course Rolex watches have far more substance than modern TAG Heuer timepieces but Rolex is the absolute master of creating brand image.

You're absolutely right. Most people regard watches as something to simply and affordably tell them it's time to leave work and head pubwards. Beyond that they have zero interest in horology. More disposable income doesn't equal an increased interest in watches, only that they want to demonstrate their extra money and Rolex is the expensive brand that everyone knows is, er, expensive.....

[zengineer]

So Certina, a $359 watch you'd buy on Amazon is a luxury watch some of the survey participants are considering...but not Grand Seiko?

Sent from my SM-G950U using Tapatalk

[brandrea]

I’m more surprised by how they define affluent in terms of household income.

[asiparks]

Because a) to a lot of normal people $350 is a lot of money to spend on a watch and it’s one that’s probably in the Amazon Recommends section

B) who has heard of Grand Seiko ? Even on watch forums like this where there’s a supposedly high level of knowledge, they are readily dismissed

[peterpl]

Originally Posted by brandrea

I’m more surprised by how they define affluent in terms of household income.

Same here

$100k seems quite low and if I was on that I defintely wouldnt be buying a $10k watch let alone multiple $30k watches.

[JayHantz]

Very interesting read. I would have liked to see the break out of the model they wanted as well with each brand, if they could even name any.

[brandrea]

Originally Posted by peterpl

Same here

$100k seems quite low and if I was on that I defintely wouldnt be buying a $10k watch let alone multiple $30k watches.

my thoughts too.

I suppose it depends where you live to some degree.

[MSchott]

Originally Posted by asiparks

Because a) to a lot of normal people $350 is a lot of money to spend on a watch and it’s one that’s probably in the Amazon Recommends section

B) who has heard of Grand Seiko ? Even on watch forums like this where there’s a supposedly high level of knowledge, they are readily dismissed

On the watch sites I frequent, Grand Seiko watches are highly respected and desired.

[VicLeChic]

Demand is strong, another argument against a hypothetical bubble burst looming.

[asiparks]

Originally Posted by peterpl

Same here

$100k seems quite low and if I was on that I defintely wouldnt be buying a $10k watch let alone multiple $30k watches.

61% of respondents had household income above $150K. When the US median income is around $62K, another $40K plus would count as affluence, not rich or wealthy, but having a decent chunk of additional disposable income for non-essential purchases.

It's also easy to say you "intend" to buy something when the surveyors come calling...When it actually comes to laying the cash down.....

[peterpl]

Originally Posted by asiparks

61% of respondents had household income above $150K. When the US median income is around $62K, another $40K plus would count as affluence, not rich or wealthy, but having a decent chunk of additional disposable income for non-essential purchases.

It's also easy to say you "intend" to buy something when the surveyors come calling...When it actually comes to laying the cash down.....

Even a household income of $150k is quite low especially when you take into consideration mortgage on house, family, kids, cars, insurance, bills etc...that $150k goes very quickly especially after taxes.

But yes I know what you mean. Many people "intend" to buy but when it comes to laying down the cash they dont do it.

[Speedbird-1]

Interesting..ish.
It's America, and who knows what 'machinations' go on behind these surveys.

If it is all legit', what does that list say about Tudor's marketing?
Probably, that they really need to up their game.

GUCCI.

[Daveh3196]

Originally Posted by peterpl

Same here



$100k seems quite low and if I was on that I defintely wouldnt be buying a $10k watch let alone multiple $30k watches.

Think about how many people who make 100k are driving around in 50k BMWs or Mercedes. Even the new Jeeps are 50+! Granted payments are most likely spread out over 60 months but if someone is dropping 50k on a car which won’t be worth 1/2 of the cost by the time its paid for, 10k for a watch actually looks cheap by comparison.


Sent from my iPhone using Tapatalk

[Speedbird-1]

Just looked at the TAG range.
Lots of relatively inexpensive, 'Aquaracer' models, most of which
seem to have taken their styling cues from Omega and to some degree Rolex. (see the Calibre 7 GMT)
There is your evidence that market research does work.
Watches designed for the aspirational, at an achievable 'price point'.

[Zakalwe]

Originally Posted by Daveh3196

Think about how many people who make 100k are driving around in 50k BMWs or Mercedes. Even the new Jeeps are 50+! Granted payments are most likely spread out over 60 months but if someone is dropping 50k on a car which won’t be worth 1/2 of the cost by the time its paid for, 10k for a watch actually looks cheap by comparison.


Sent from my iPhone using Tapatalk

Spot on.

Even if I ignore the evidence of my eyes (every other car on the road here seems to be a premium German car marque) I’m a member of a few car forums. The frequency with which people, many of whom have average disposable incomes, change their cars is astonishing. Bear in mind that swapping cars almost always incurs heavy penalties on depreciation, up to several thousands for each sale. At the upper end of the spectrum if I buy a halo AMG Merc or BMW M5 brand new, those cars are losing £20-30k as soon as I get handed the keys.

By contrast I just bought an LVc today. I’m not saying it’s an investment. But if my wife left me tonight and took the house and cars with her, I could sell the watch tomorrow and make a small profit.

[peterpl]

imho there are many people who should not be buying these watches or luxury cars.

Amazing how people need to keep up with the Joneses when their pay bracket doesnt reflect. Thats just me. No way I'd buy a Rolex at this income.

[toomann]

On the other hand had you considered the person who makes 100-150k and is single and live a very frugal life. That person may have the financial means to purchase a 10k watch without even thinking about it. Not everybody has kids and a spouse. I fall into that category.

[jsausley]

Originally Posted by zengineer

So Certina, a $359 watch you'd buy on Amazon is a luxury watch some of the survey participants are considering...but not Grand Seiko?

Sent from my SM-G950U using Tapatalk

Most people aren't watch snobs. They see Seiko and they think Walmart.

[mmmmp]

Originally Posted by Daveh3196

Think about how many people who make 100k are driving around in 50k BMWs or Mercedes. Even the new Jeeps are 50+! Granted payments are most likely spread out over 60 months but if someone is dropping 50k on a car which won’t be worth 1/2 of the cost by the time its paid for, 10k for a watch actually looks cheap by comparison.


Sent from my iPhone using Tapatalk

I grew up in a fairly affluent area of Toronto where Caddys and Lincolns were pretty common place in most driveways. During the 80's the cars of choice became the BMW or Merc, but this wasn't limited to the nicer areas of town. Seemed like luxo rides became common all over. Nowadays, seeing E class even Bentleys, Ferraris are almost commonplace. I asked my (Rolex wearing) investment counselor how could so many people drive such pricy vehicles? He basically said most are 'lease jobs'. People living beyond their means just to impress.

Just his opinion I suppose, but makes some sense. I'd never buy a luxury *anything* unless I could foot the entire cost. Not for any noble reason - having huge end-of-months financial burdens seems like the recipe for a mega-stressful life. But, live and let live.

Just my opinion,
Mark

Sent from my SM-A520W using Tapatalk

[derekhayden]

I am not shocked that people in the 150K salary range would say Rolex when asked what luxury watch they would buy. Rolex is the pinnacle of horology for the uninformed and the middle class. Also marketing clearly has a great deal to do with it when you see what other "luxury" brands the same group mentioned.
I would also second what some have said that in America it is not uncommon to see over $100K worth of cars in the drive way of a 150K home.
All this being said one can easily afford a SS Rolex on a salary of a lot less then 100K depending on the individuals situation. While I love my Rolex and respect the brand I am not blinded into thinking it makes me special or more financially sound then others for owning them.

[Kyle3130]

Originally Posted by peterpl

imho there are many people who should not be buying these watches or luxury cars.

Amazing how people need to keep up with the Joneses when their pay bracket doesnt reflect. Thats just me. No way I'd buy a Rolex at this income.

Agreed, way to many Americans are living beyond their means on credit. I make way less than $100K, have a wife and 2 young kids, and have no debt except my mortgage. We live comfortably with retirement savings maxed out and kids college being funded. It’s all about setting priorities and making good decisions with your money. BTW my only watch is a 14060M (2 line) Sub and I wear it all the time. It’s the only one I’ve ever wanted enough to save for and buy.

[mgsooner]

Originally Posted by Kyle3130

Agreed, way to many Americans are living beyond their means on credit. I make way less than $100K, have a wife and 2 young kids, and have no debt except my mortgage. We live comfortably with retirement savings maxed out and kids college being funded. It’s all about setting priorities and making good decisions with your money. BTW my only watch is a 14060M (2 line) Sub and I wear it all the time. It’s the only one I’ve ever wanted enough to save for and buy.

Greetings from a fellow Okie! Btw your watch is one of my all-time favorite references.

[Kyle3130]

Originally Posted by mgsooner

Greetings from a fellow Okie! Btw your watch is one of my all-time favorite references.

Howdy, I’m actually a Texan and the Air Force put me in OK! Thanks, I love it!

[Strummer25]

Some of the brands classified as luxury is quite amusing

[pickettt]

Originally Posted by peterpl

Even a household income of $150k is quite low especially when you take into consideration mortgage on house, family, kids, cars, insurance, bills etc...that $150k goes very quickly especially after taxes.

But yes I know what you mean. Many people "intend" to buy but when it comes to laying down the cash they dont do it.

I never even considered a Rolex when I was in that income range.

[asiparks]

Originally Posted by Strummer25

Some of the brands classified as luxury is quite amusing

Like Swatch ?
sometimes "Luxury" gets conflated with "Designer".
I know a few people that would consider a Swatch, Armani Exchange, Michael Kors or Diesel timepiece a "luxury" watch because of the Designer name attached or implied.

We have no idea of who was polled or what their experience of luxury brands actually is- Might have been the first 700 people, alphabetically, who lied about their earnings on Tinder and know luxury from reading Vogue in their parole officer's waiting room or perhaps it was 700 people from Chanel's Big Spender customer mailing list....