How Piaget’s Luxury Goods Can Make Your Life More Expensive
If you’ve been living a more luxurious life, you’ve surely heard about the luxury goods offered by Piaget. The Swiss watchmaker is famous for its 3-million-franc Emperador, a watch that features a 106-carat diamond. But what’s so unique about these products? Their price tags can exceed one million euros. The typical client of the brand is a young professional who already owns several high-end items, but still seeks a unique product. About a quarter of the company’s business comes from mainland China.
Function
As the world’s largest watchmaker and jeweler, Piaget stands for artistic and creative values. The company was founded in 1874 by Georges Piaget. Although originally a watch movement manufacturer, the company later began marketing its own line of prestigious watches. Its line of luxury timepieces includes solid gold and ladies dress watches. The Piaget Polo is a classic example of a skeletonized watch.
The brand offers both in-store and online experiences. Digital pinpoints tell the story of each creation and provide details such as inspiration, price, and related assortments. Piaget also offers a sharing feature, allowing guests to follow their digital journey. They can also communicate with each other using social media platforms. Its innovative online and offline retail stores have incorporated the latest technology into their marketing strategies. The Piaget website is an extension of its physical retail store.
While many luxury goods brands focus on the more expensive end of the market, Piaget has risen above the pack by creating sophisticated and function-packed products. Today, many consumers prefer a low-key luxury watch. Piaget has taken on this challenge. With the emergence of smartwatch technology, Piaget watches can meet the needs of all people. The brand’s watches and accessories are made from the finest materials and feature innovative technologies and superior craftsmanship.
Design
If you’re looking for luxury items, you’ve come to the right place. The world-famous Piaget brand started as a pocket watch company, but has grown to include wristwatches as well. The company’s rise to fame was sparked by the introduction of the world’s thinnest automatic and manual wind wristwatches, as well as the micro-rotor design.
The company recently expanded its luxury watch line. Today, the brand sells more than one million Swiss francs worth of luxury goods. Most of its sales are to customers in Russia, Asia and the Middle East. The company’s main target markets are young professionals in their early to mid-thirties. They are also increasingly willing to spend a lot of money on products that are unique.
Founded in 1874, Piaget is a Swiss jeweller and luxury watchmaker. Located in Jura, the company was first known for its watches, but later expanded into jewelry. The company is now famous for its Rose and other luxurious items. A Piaget luxury watch is the epitome of luxury, and the ultimate expression of elegance. The company’s products are crafted with a blend of Old World concepts and contemporary designs.
Price
If you’re looking to splurge on the best things in life, look no further than Piaget’s products. This French brand’s products reflect the passion for beauty and craftsmanship of its customers. These individuals are people of substance who celebrate life, the artistic spirit, and the freedom to express themselves. The company is expanding rapidly, with plans to open more than forty retail outlets worldwide this year.
The brand first became known as a manufacturer of diamond watches, and soon after that, the Piaget family diversified into other high-end items. This luxury brand is known for its “Piaget Emperador” watch, which is three million francs. Most Piaget clients are young and have many high-end items, including watches. The brand’s style is reminiscent of Old Hollywood sophistication. The signature rose is used prominently to distinguish Piaget jewelry and watches. The rose is the company’s hallmark, and jewelry is often depicted as a fantasy garden.
Omega is another brand with a long history. Like Piaget, it is one of the most popular luxury watch brands in the world. Its Moonwatch and James Bond watches are iconic, but the price tag for an entry-level Omega is less than half that of a Piaget watch. Both brands have high-quality watch components and highly accurate timepieces. Some of the best-selling watches are considered luxury tool watches, though.
Accessibility
Piaget is known for its fine jewelry and watches for affluent consumers, but in a bid to make them more accessible, the company is working with social network Quiq. Through this platform, customers can directly ask questions to a Piaget representative about the products they’re interested in purchasing and share their own experiences. The company’s clients are primarily women in their mid-30s to early-40s, and the social media platform enables consumers to ask questions about their products and get tips on purchasing.
Piaget is committed to digital accessibility and has chosen to follow the Web Content Accessibility Guidelines (WCAG) 2.1 Level A and AA for its website and mobile applications. This means that the Piaget Material may not be available in all countries, and it may not be legal in some places. As a result, Piaget cannot guarantee that its products will be available worldwide. It is your responsibility to check whether a particular website is accessible before deciding to purchase a product.
Inaccessible products, on the other hand, are seen as unaffordable by most consumers. They are considered to be inaccessible due to insufficient discretionary income or an excessive price difference. This applies to French haute couture and luxury watches, which can cost as much as one million euros. An expensive bottle of The MacAllan’s 1926 Vintage Single Malt costs over twenty-three euros. Alternatively, the price of a night in the most expensive villa can cost as much as twelve thousand euros. A single kilo of Tieguanyin can cost as much as 1,950 euros.
Generations of consumers
Swiss watchmaker and jeweller Piaget has turned its attention to millennials and is ramping up its digital presence in Asia-Pacific. The brand’s new Managing Director, Matthieu Pougin, has recast the company’s perception. He spent 17 years with Nespresso and is determined to keep up with a new generation of consumers. Here are three strategies that he believes can help the brand increase its revenue and reach new markets.
Millennials are willing to spend a fortune on luxury goods. In a recent Harris Group study, 78% of millennials said they would rather spend money on experiences than stuff. The high-end goods market has been able to keep pace with rising prices in other areas of the economy, and the rise of luxury brands is no exception. Almost 40 billion dollars in sales of diamonds last year demonstrates the popularity of luxury goods among millennials.
Millennials also lack the thrift of previous generations. Many millennials still live with their parents until they marry. In the early ’90s, children in China spent an average of four hours and 36 minutes on mobile devices each day. This gave them unprecedented access to lifestyle inspiration. By partnering with Gen Alpha-friendly brands, luxury brands can gain access to a new generation of consumers who are more likely to spend than save.
Influence of brand name
In this study, we investigated the role of brand name in luxury goods purchases by participants. We also explored the potential influence of attitudinal functions related to luxury goods. Moreover, we explored the role of implicit motivations related to luxury brand purchase. A common assumption among consumer research is that the importance of brand name is not related to a luxury good’s perceived quality. But this assumption is far from being correct.
While there are many factors that influence brand name purchase behavior, these three factors appear to influence consumer behavior. First, the importance of brand awareness. In the luxury goods sector, consumers are likely to be aware of luxury brand names if they recognize them. In addition, brand awareness is associated with positive effects on consumer engagement. Hence, brand image is of utmost importance for the performance of luxury brands. For example, the higher the brand name awareness, the higher the satisfaction level of the consumer.
Secondly, the brand name’s prominence is a determinant of purchase intention. When luxury brands are perceived as counterfeit, the N200 amplitude is higher than when a genuine luxury brand is exposed. The latter is the result of a higher purchase intention, which indicates that the more prominent the brand name, the higher the likelihood of luxury goods purchase. So, whether or not a luxury brand has a positive effect on a consumer’s intention to buy the product, is an open question.