Top 5 Customer Experience Insights From Consumer Analysis of Watches 

Category Analysis –  Watches 

Region – India

The watch segment accounts for about 80% of the Indian timepiece market that includes watches, table clocks, alarm clocks, and wall clocks. The India watch market revenues are estimated to reach US $1,782 m in 2025. It is estimated to register a CAGR of 20.32% over the forecast period, 2020-2025. The purpose of this report is to analyze consumer behavior and brand preference for watches in India. It aims to evaluate consumers’ appraisement of each attribute of the product. Analyzing consumer choices by evaluation of each attribute helps to understand consumer preferences.

Methodology 

The analysis is based on customer reviews and conversations online in the segment. The analysis results presented are completely unbiased and not based on any subjective judgement. The source data used for the analysis are user conversations available publicly online like public forums and social media.

Total number of customer conversations analyzed

10,186

Top 5 Customer Experience Insights From Consumer Analysis of Watches

Executive Summary – Key Takeaways

Watch Industry Overview:

  • The trade value of the Indian watch industry amounted to over $449 million in the fiscal year 2019.
  • Of these, imports accounted for a significantly larger share with about $367 million.
  • Indian watches export and import value from financial 2016 to 2019 – Source: Statista.

Indian Watches Export and Import ValueExportImportFY 2016FY 2018FY 20190102030

CityExportImport
FY 20166.3819.01
FY 20185.1821.45
FY 20197.5126.65

 Growth Drivers of Indian Watch Industry:

  • The economic liberalization of markets
  • Rising disposable income
  • Exposure to western lifestyles
  • Need for the new generation to establish an identity for itself
  • Increasing fashion consciousness 
  • Progressing retail landscape
  • Increase in Internet retailing
  • Slashed goods and services tax (GST) rates on watches from 28% to 18%

Challenges of Indian Watch Industry

  • The presence of counterfeit products is a major challenge for the market
  • The developing market for fitness bands and activity trackers as substitutes for smartwatches impedes the growth of the watch market

What Are The Key Drivers of Customer Experience For Watches in India?

Watch Industry Overview:

  • The trade value of the Indian watch industry amounted to over $449 million in the fiscal year 2019.
  • Of these, imports accounted for a significantly larger share with about $367 million.
  • Indian watches export and import value from financial 2016 to 2019 – Source: Statista.

Growth Drivers of Indian Watch Industry:

  • The economic liberalization of markets
  • Rising disposable income
  • Exposure to western lifestyles
  • Need for the new generation to establish an identity for itself
  • Increasing fashion consciousness 
  • Progressing retail landscape
  • Increase in Internet retailing
  • Slashed goods and services tax (GST) rates on watches from 28% to 18%

Challenges of Indian Watch Industry

  • The presence of counterfeit products is a major challenge for the market
  • The developing market for fitness bands and activity trackers as substitutes for smartwatches impedes the growth of the watch market

What Are The Key Category Drivers For Watches in India?

Top 5 Customer Experience Insights From Consumer Analysis of Watches

One of the most important factors in successful brand positioning is fully recognizing the category drivers. These factors will offer a better customer experience and therefore make or break the brand value, but is surprisingly often not well understood.

  • Why do customers engage in your product category?
  • What factors drive customers to select a particular watch brand?

If watch brands can establish superiority on a key category driver, then it becomes primary points-of-difference and drivers of brand choice. 

So how can watch manufacturers establish superiority on a category driver?

This can happen only when there is alignment in terms of what manufacturers think drives a great customer experience versus what customers actually look forward in a awesome customer service. If watch manufacturers are willing to listen, customers are more than happy to share their good and bad customer experiences, demands and expectations about how they’d like their watch to be improved.

When Clootrack analyzed 10,691 online conversations of watch customers in India, it came out clear that customers have their own wish list.  Clootrack lists the Top 5 Customer Experience Insights From Consumer Analysis of Watches.

Let’s deep dive into each of the categories.

1. Daily Use

One of the most important factors in successful brand positioning is fully recognizing the category drivers. These factors are likely to make or break a brand and is surprisingly often not well understood.

Why do consumers engage in your product category?

What factors drive them to select a particular watch brand?

If watch brands can establish superiority on a key category driver, then it becomes primary points-of-difference and drivers of brand choice. 

So how can watch manufacturers establish superiority on a category driver?

This can happen only when there is alignment in terms of what manufacturers think customers want versus what customers actually want. If watch manufacturers are willing to listen, customers are more than happy to share their demands and expectations about how they’d like their watch to be improved.

When Clootrack analyzed 10,691 online conversations of watch customers in India, it came out clear that customers have their own wish list.

Clootrack lists the top 5 category adoption drivers for watches in India

Let’s deep dive into each of the categories.

1. Daily Use

The number one category adoption driver for a watch in India is its ability to cater to daily usage.  

A watch is one such daily accessory that’s timeless. In addition to just being able to show time, watches have become a symbol of style and personality. Besides It is about passion and a way of expressing oneself.  

In fact, watch manufacturers who can see this desire among consumers to express themselves through daily wear watches will be able to offer a great customer engagement and eventually emerge successful.

From Clootrack consumer insights, here is a quick view of customer feedback based on what customers prefer to see in their everyday watches.   

Daily Use 100.00%
Simple Watch50.00%
Light Weight16.67%
Bulky Look16.67%

For daily use, consumers prefer to wear a watch that is lightweight and durable. Further, a watch that can be paired up with casuals and formals and for almost every occasion is a game-changer.

Customer satisfaction improves when there  is more choices in dial measurements and dial colors. They enjoy exceptional customer experience when their watch dials are durable.

“I’ve banged it on the sides of doors, walls, you name it (by accident of course) and there are no scratches on the dial.”

This is exactly what a consumer is looking for in an everyday watch.

There should be multiple options to choose a strap that is very well made and comfortable. Likewise, consumers also lookout for a daily use watch that is water-resistant.

However consumers have also expressed their negative sentiment relating to daily use watches. This is something that manufacturers cannot ignore. Customer expectations clearly show that they look forward for a light watch and hate a bulky watch. 

As one of the customers says,

“I decided to start wearing a watch again because I think it’s convenient and looks good.”

Watch manufacturers need to identify drivers of customer satisfaction. It’s clear that manufacturers need to offer watches that satisfy consumers’ personality and looks, along with quality and durability. 

2. Warranty

Warranty of watches has emerged as the second most important adoption driver for watch customers. 

Do customers look closely at the warranty when watch shopping? Watch warranties have, interestingly, come up on the top of the must-have list for a great shopping experience. 

From Clootrack’s research, it is very evident that most of the customers are interested to know the warranty of the watches. They prefer to buy watches that offer at least 1-2 years warranty. 

No wonder this has become a space for competition within the industry! 

A few years ago, when Rolex and Omega increased their warranties to five years, it became news. Some brands like Cartier, IWC, Panerai, and Jaeger-LeCoultre offer warranty “extensions” that extend up to 8 years. 

When Clootrack research conducted a deep dive into the warranty category, below is what customersexpressed. 

Original Box 100.00%
Right Tags100.00%
Genuine Products83.33%
Clear Logo50.00%

 “It came in a hard cardboard fancy box with all the right tags and warranty slip.”

“The brand gives a 2-year warranty that is more than enough.”

 It is clear that a loyal customer is expecting warranties as it provides assurance against defects. But more importantly, it reflects the manufacturer’s confidence in the product. Customers believe that the watch manufacturers wouldn’t offer a warranty if it didn’t make good business sense. 

Ok, so it’s a good idea for manufacturers to consider offering longer warranty periods, than the competitors and get that trust from your consumers. 

3. Affordable Price

 

The third most important category adoption driver for Indian watch consumers is the price.

Lower-priced and mid-priced watches are gaining attention. This is due to the increasing demand for value-for-product watches. Consumers prefer to buy an excellent and classy product at a very affordable price.

When Clootrack conducted research on the price of the watches, it was evident that consumers prefer watches that are affordable. 

Affordable Price 89.33%
Good Price33.33%

One of the customers says,

“Lovely watch, best in this price segment.”

See how a frustrated passenger says,

“Very bad product, not work worth money. Imperfect product, do not buy this. I think the price is high.”

The price charged on the watches affects customer buying behaviorMarketers must consider the price sensitivity of the target consumers while fixing prices.

4. Design

The design of the watches occupies an important place and has emerged as the fourth top adoption driver for watch consumers in India.

When people buy a watch, they explicitly don’t ponder over what other people are going to think about the watch.

But that said, what a watch and its design says about the wearer is a critical part of why people choose one product over another.

While people choose a watch with a particular design, it actually depicts personalities and messages based on how they are treated in culture. Thus the design of a watch becomes very important for a watch consumer.

When Clootrack dug deeper into how the design of a watch influenced consumer behavior, it was loud and clear that consumers prefer watches that offer greater designs that fit well with their personality.

Good Design 47.05%
Sleek Design46.17%
Nice Watch15.42%
Stylish Design11.95%
Amazing Look6.92%
Light Weight5.92%
Fashioned Strap5.56%
Metallic Design5.56%

Customers say,

“Design is good and feels like I’m wearing an expensive watch.”

“Nice design inside the dial, but looks premium for outlook, fit nice and narrow.”

See how customers lay high emphasis on the design of a watch. Its because it portrays their image when they wear the watch in public. These socially prescribed attributes of a watch often have an influence on how a watch has to be designed.

So how can brands take better advantage of this?

Brands need investment in developing personalities for their brands and products. If not they will fail to create values that consumers can connect with.

5. Product Quality

The quality of the watch comes up as the fifth most important category adoption driver for Indian consumers.

Consumers look at the quality of all the components of a watch such as the material used for the case, the dial, the hands, and the strap.

Clootrack research has been able to identify the consumer‘s idea of a quality watch. See below how consumers associate the strap quality, level of waterproof, and a good finish when they talk about the quality of the watch.

Awesome Product 78.02%
Nice Quality18.57%
Good Watch6.96%
Good Finish 1.01%
Water Proof1.01%
Good Leather0.33%
Poor Quality0.71%
Poor Product0.33%

Consumers are clearly dissatisfied with the strap quality of the watch.

“I felt the belt is not very good at this pricing, it should be of better quality.”

A watch can disappoint consumers when the metal or the leather strap gives way. For instance, without a good looking strap a watch cannot be worn even when if it is working well.

Similarly, consumers are expecting the watch to have good water-resistance to face an accidental daily splash, or washing hands, or even a sudden rain.

Certainly, consumers have a checklist when it comes to the quality of a watch.

Summary –Top 5 Customer Experience Insights From Consumer Analysis of Watches 

Beyond just its basic function of showing the time, a watch has become an essential fashion accessory and a status symbol for many people in India. Therefore consumers evaluate not just one factor, but many factors before making a purchase decision.

Therefore it is important for brands to determine the most favorable features of their watches in order to deliver maximum satisfaction to customers.

Using advanced analytics, Clootrack research has gathered and analyzed the top 5 category adoption drivers for watches in India. Importantly, these findings indicate that Indian watch consumers give the highest priority for daily usage and for warranty, in addition to design, price, and quality.

Watch manufacturers can monitor customer “signals” such as online browsing, forums, eCommerce websites, and social media posts – All of which will trigger relevant and timely updates on the ever-changing consumer preferences.

Brand Equity of Watches in India 

Brand Equity is brand loyalty, brand perception, and brand awareness of a customer towards a brand. Above all, It depicts the level of consumer awareness of a brand.

Below is the brand equity of 6 different watch brands in India. Most importantly, it shows how customers feel about a particular brand for each of the category drivers. 

  • As per customer conversations, Casio ( with over 300 models in its G-Shock variant) is the leader in offering daily use watches at an affordable price
  • Customers consider Titan (which offers 2 years of warranty) as a leader in offering a warranty
  • Sonata, which offers more than 750 designs, is ahead of all other brands in offering innovative design watches according to the customer conversations
  • As per the customer data, Fastrack offers the best quality watches closely followed by Timex and Titan

Top Customer Conversations Around Watches in India

Beyond just its basic function of showing the time, a watch has become an essential fashion accessory and a status symbol for many people in India. Therefore consumers evaluate not just one factor, but many factors before making a purchase decision.

Therefore it is important for brands to determine the most favorable features of their watches in order to deliver maximum satisfaction to customers.

Using advanced analytics, Clootrack research has gathered and analyzed the top 5 category adoption drivers for watches in India. Importantly, these findings indicate that Indian watch consumers give the highest priority for daily usage and for warranty, in addition to design, price, and quality.

Watch manufacturers can monitor customer “signals” such as online browsing, forums, eCommerce websites, and social media posts – All of which will trigger relevant and timely updates on the ever-changing consumer preferences.

Brand Equity of Watches In India

Brand Equity is brand loyalty, brand perception, and brand awareness of a customer towards a brand. Above all, It depicts the level of consumer awareness of a brand.

Below is the brand equity of 6 different watch brands in India. Most importantly, it shows how customers feel about a particular brand for each of the category drivers. 

  • Casio, which has over 300 models just in its G-Shock variant, is the leader in offering daily use watches at an affordable price
  • Titan, which offers 2 years of warranty, is a clear leader in offering a warranty
  • Sonata, which offers more than 750 designs, is leaving behind all other brands in offering innovative design watches
  • Fastrack offers the best quality watches closely followed by Timex and Titan

Top Consumer Conversations Around Watches in India

Top 5 Customer Experience Insights From Consumer Analysis of Watches

“Design is decent suits with casual and formal; also clock hands illuminate in dark.”

“Excellent built quality. just go for it if you are looking for a sports watch or a daily use watch it won’t disappoint you.”

“Genuine TITAN product came with a warranty card and original box.”

“Good quality leather strap with padding. The dial looks very premium.”

“Good watches at affordable prices are recommended to buy.”

“Strap quality is good – no sign of deterioration after 2 years of daily use.”

“Very bad product, not worth the money. Imperfect products do not buy this, I think the price is high.”

“The design is not great, feels heavy.”

“Product is good, it mentioned there is a 1-year warranty. But couldn’t see the warranty card in the box.”

“I received a copied watch… I confirm from the Fastrack store.. this watch is a duplicate and no warranty.. serial no. Inside watch dial and stickers are not matching, FastTrack logo not clear on the belt, so returning this product.”

Watch Industry –  Acknowledged Customer Beliefs

  1. Accessories/spares are very expensive
  2. It is better to buy from authorized sellers to avoid fake watches
  3. Japanese watches are more reliable

Watch Industry – Emerging trends based on predictive analysis

  1. Connected /app-based watches
  2. Long-lasting batteries
  3. Theme based watches based on the current trends

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