Many have requested another round of “How I would,” where I try to take industries and explain how I would market them.<\/p>\n
Thanks to my good friend Martin for giving me the push to get started again.<\/p>\n
Previously, I\u2019ve chosen categories such as the local bakery,<\/a> a bike shop<\/a>, a professional DJ<\/a>, a local nightclub,<\/a> a clothing brand<\/a>, and many more.<\/p>\n Today, watch dealers face an exciting challenge. One of my good friends owns a local watch shop, and he often asks me for advice on how to market his business.<\/p>\n So why not share our dialogue with the rest of the world?<\/p>\n Let me clarify what kind of shop we are talking about \u2013 it is a dealer specializing in selling luxury brands such as Rolex, Omega, and Audemars Piguet.<\/p>\n These are not official retailers but rather specialized shops with exclusive watches sourced from authorized dealers.<\/p>\n But don\u2019t be fooled by this niche \u2013 the tips and tricks I share here are relevant for any watch shop, regardless of specialty. If you know someone who runs their own watch store, feel free to share this post with them.<\/p>\n Let\u2019s also get this straight:<\/strong> \u201csecond-hand dealers\u201d actually sell authentic watches, sourced from unauthorized dealers, but that does not mean they are fake watches.<\/p>\n The reason these have become so popular is that the waitlist to buy, for example, a Rolex in official stores such as Klarlund<\/strong> is now endlessly long \u2013 on some models up to 10 years.<\/p>\n Prices for these watches soared during the COVID-19 pandemic. Partly due to increased demand from consumers seeking alternative purchase options, and partly due to rising liquidity from government support packages and low interest rates.<\/p>\n These factors created a positive bubble, where \u201cgrey market\u201d watch prices went absolutely wild. Especially for Rolex, AP, and Patek Philippe.<\/p>\n So, that\u2019s a bit of background.<\/p>\n Now let\u2019s look at my area of expertise \u2013 not watches, but marketing.<\/p>\n Sorry in advance if I misuse any watch-industry terms, bear with me :).<\/p>\n