Swiss watch brands are looking forward to their boom in China this year.

In order to get a better understanding of Chinese perspect of view when men purchase luxury Watch, you will find 5 factors that brands need to consider to convince Chinese Rich Customers.

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Swiss watches

China is the largest importer of Swiss goods only next to the European Union and the US.

About 32% of that is Swiss watches.

Chinese have a great fondness for European luxury goods, including ” Luxury watches”.

China is the world’s most important market for Swiss watches. In 2013, an free trade agreement has been signed between the 2 countries.

Chinese consumers purchase foreign watches in China with 20%  importation tariff, and help the shopping culture in Switzerland.

Last year, Chinese governement levied heavy taxes on both watches and what they considered to be luxury watches.

Imported watches get 11% tax, at over 1,500 “Swiss Francs” were taxed at 20%.

The free-trade agreement terms will not completely remove the duties on all goods transported from China to Switzerland and vice-versa, but the idea is to significantly reduce duties in order to encourage trade between the 2 nations.

The terms of the new agreement are said to reduce watch-related taxes in China by about 60% over a 10 year period.

 

watch china

 

What Chinese care when they want to buy luxury watches?

 

Due to the influence of local expertise and cultural considerations, some of the items on the list are particularly China-specific.

 

Quality – accurenty

Chinese buyers really like to hear that each tiny detail is well cared when they realize the product, and this  piece will stay perfect for long time. When selecting a watch, Chinese men will be sentitive to such as precision in timekeeping, design and craftsmanship, as well as tiny details that sales or ads will tell them.

 

watch chinese heuer

 

Production Process 

Chinese buyers who want to be seen as expert. When they buy a product like a watch, they would like to explain to their social circle that the production requires special knowledge of a watch’s production, and need extremly precise actions. Most of them like storytelling, and like to show to their friend their knowledge.

Switzerland is famous in China for its expert timepiece production, and you can see a lot of  advertising about handwork of a master Swiss watchmaker.

It is very important for them to have 100% imported Swiss-made watch.

 

Price & Discount

When it comes to luxury products, price should be high and be sure that it is not a fake, as a Chinese saying goes, “Yi fen qian, yi fen huo”, One yuan of money=one yuna of good. If the product is with too much discount, Chinese Rich men may worry there is something wrong with it.

For the branding, and the reputation these kind of product should have the proper price for the target.

 

Chinese like Top Brands

Chinese Rich people like to buy the top Brands, the brand already famous for the face. They mainly consum good for show to their cercle that they success, so it should be with a brand that everybody know the price.

Patek Philippe, Vacheron Constantin, Tag Heuer and Piaguet are the top on the list, giving them a major advantage in China’s luxury watch market.

watch chinese

 

Slimness

Rich Chinese and officials are especially partial to the thin watches, because many of them believe thin watches match best with Western-style business suits.

However most of them do not know that  slim watches should not be worn playing golf, in the water place sauna & swimming pools, or out under the sun or else they will easily become damaged.

 

 

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More information about how to promote your luxury brand in China ?

 

 

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