46% of men aged 16-24 have purchased a watch for themselves in the last year
So why are these consumers feeling so ignored? Research has shown that these consumers are ready to spend.... but want so much more than the market is offering at the moment. There is real potential for a male specific brand to dominate the market. Right now.
The new male specific watch brand that has the potential to take the market share of these 'self-purchasing' consumers.
Through research undertaken in the dissertation, it was discovered that the largest up and coming consumer group within jewellery and watches were the male millennial. With nearly half of this group buying AT LEAST one watch for themselves in the past year, they are proving to be the real potential for watch brands. However, consumer focus groups revealed that they do not feel 'inspired' by the current offerings of mid-priced watch brands in the UK. They love the look and quality that comes with a Rolex or Tag Heuer, but do not have the funds to own them.
The concept of Bezel is to stock the best quality, mid-priced watch brands that are not currently available within the UK. With American brands like 'Egard' and 'Halios', Swiss brand 'Sturhling' and Russian 'Bomberg Moscow' Bezel will offer watch enthusiasts amazing brands with an excellent customer service package. The store would be ideally based in Shoreditch, London; to accommodate the shopping needs and locations of the target consumer. Bezel is the new way for watch brands to showcase just what they have and the beauty and quality of their watches.
Through work experience undertaken in the last 3 years, a strong interest in the jewellery and watch market was formed. This work was created in the hope of continuing to work within watches, and contribute to the growing market we see in the UK.