So with the news of a few more brands opting not to attend BaselWorld this year, I have to start wondering if we are starting to see a shift in approach. If like me, you've walked the halls of BaselWorld, you will find not only the brands you know, but quite a few that you do not. And with any industry it eventually becomes a question of just how many brands can survive? What is interesting is that some fairly well known brands are deciding not to attend this year. Your first thought is that there must be some very serious problems - why on earth would you not want to be at BaselWorld?
But in fact, some of the brands opting not to attend are not exactly hurting - in fact, they are quite active and appear to be diverting monies that might have been spent at BaselWorld to other marketing efforts. Think about it this way, you could be one of hundreds competing for a very limited amount of attention - or you could save your money and invest it elsewhere. Remember, those booths aren't free. And this goes beyond what the brand spends for the physical booth itself, but also consider the "space" fees, the travel, the hotels, the entertainment and parties and the give-aways.
And this is where I come back to thinking about some of the other, smaller brands that will still stump up the very, very large amounts of money required to be at Basel. Remember, you've got a lot of overhead there. So as the brand, you have to then consider how many orders did you take vs. how much money did you spend?
So I guess what I'm really getting at is this - are we now starting to see brands think about alternative methods to communicate and sell? There is no substitute for face time. Seeing a watch in person, meeting the people face to face, really important. But here's a fact of life at BaselWorld - you will miss at least 10% of your appointments. You don't mean to, you don't want to, but you can't help it. I personally missed Patek Philippe last year - I suspect they will not move heaven and earth to schedule me for THIS year ; ) So let's say you are not one of the big dogs? You are the brand that the retailer will "try" to get to. So you spend your money, and you only open one or two store accounts, which in fact then leaves you chasing the rest of the year.
Now don't get me wrong - I LOVE BASELWORLD! I love the atmosphere of the halls, I love seeing old friends and making new ones, I love the lukewarm food and the iffy coffee - I love the excitement. But I also have to wonder, can it go on like its going indefinitely? I suppose the industry will continue to follow a lot of its patterns - I don't think that the fairs are really going anywhere. But I do have to wonder if more brands will consider missing a year, or might even consider shifting their focus? Because ultimately, BaselWorld is not getting actual watches in front of actual end purchasers. For the enthusiasts that attend at the weekend, you can look in the window, and you might even get to wander through some of the more open booths, but you will not really be laying hands to much. And I think that is where BaselWorld could do better - get some real involvement with the public. Not just the press, not just the retail store but the actual end user. Encourage the brands to be more open to the public.
We're a little more than 2 months away now, and I am really looking forward to it. But I am also curious to see what things will be like with the newly refurbished halls.
Enjoy your watches!
But in fact, some of the brands opting not to attend are not exactly hurting - in fact, they are quite active and appear to be diverting monies that might have been spent at BaselWorld to other marketing efforts. Think about it this way, you could be one of hundreds competing for a very limited amount of attention - or you could save your money and invest it elsewhere. Remember, those booths aren't free. And this goes beyond what the brand spends for the physical booth itself, but also consider the "space" fees, the travel, the hotels, the entertainment and parties and the give-aways.
And this is where I come back to thinking about some of the other, smaller brands that will still stump up the very, very large amounts of money required to be at Basel. Remember, you've got a lot of overhead there. So as the brand, you have to then consider how many orders did you take vs. how much money did you spend?
So I guess what I'm really getting at is this - are we now starting to see brands think about alternative methods to communicate and sell? There is no substitute for face time. Seeing a watch in person, meeting the people face to face, really important. But here's a fact of life at BaselWorld - you will miss at least 10% of your appointments. You don't mean to, you don't want to, but you can't help it. I personally missed Patek Philippe last year - I suspect they will not move heaven and earth to schedule me for THIS year ; ) So let's say you are not one of the big dogs? You are the brand that the retailer will "try" to get to. So you spend your money, and you only open one or two store accounts, which in fact then leaves you chasing the rest of the year.
Now don't get me wrong - I LOVE BASELWORLD! I love the atmosphere of the halls, I love seeing old friends and making new ones, I love the lukewarm food and the iffy coffee - I love the excitement. But I also have to wonder, can it go on like its going indefinitely? I suppose the industry will continue to follow a lot of its patterns - I don't think that the fairs are really going anywhere. But I do have to wonder if more brands will consider missing a year, or might even consider shifting their focus? Because ultimately, BaselWorld is not getting actual watches in front of actual end purchasers. For the enthusiasts that attend at the weekend, you can look in the window, and you might even get to wander through some of the more open booths, but you will not really be laying hands to much. And I think that is where BaselWorld could do better - get some real involvement with the public. Not just the press, not just the retail store but the actual end user. Encourage the brands to be more open to the public.
We're a little more than 2 months away now, and I am really looking forward to it. But I am also curious to see what things will be like with the newly refurbished halls.
Enjoy your watches!
No comments:
Post a Comment