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Tissot is taking a moment in time to entrench the brand in sports and culture while also meeting consumer demand in an innovative and growing category.<\/p>\n
While Apple and Garmin currently dominate the US$38.7 billion smartwatch market, the Swiss-made watch brand is gaining market share amid rising consumer demand for smartwatches in Apac.<\/p>\n
In Australia, the watch market has a value of US$680 million and while demand for luxury timepieces is growing, economic factors have kept 59 per cent of watch sales locally in the non-luxury category.<\/p>\n
Innovations from brands like Tissot play in this space nicely as they have the legacy of a luxury brand and the technology today\u2019s consumers demand, at a price point that offers strong value to consumers.<\/p>\n
Tissot\u2019s general manager Daniel Rugman spoke to Inside Retail<\/em> about the brand\u2019s market positioning, competitive advantage and innovation.<\/p>\n Inside Retail<\/em><\/strong>: What is the strategic vision behind Tissot’s recent product innovations, and how do they fit into the brand’s overall direction?<\/strong><\/p>\n Daniel Rugman: <\/strong>Tissot\u2019s inventiveness and ability to think outside the box have constantly delivered practical results. <\/p>\n The launch of the T-Touch Connect Sport is a reminder that Tissot has always been heavily involved in research and the creation of new solutions.<\/p>\n These are the fruit of an innovative watchmaking culture that gave rise to the brand\u2019s slogan: \u201cInnovators by Tradition\u201d.<\/p>\n IR<\/em><\/strong>: What differentiates Tissot from other brands in the highly competitive smartwatch and traditional timepiece markets?<\/strong><\/p>\n DR:<\/strong> Innovation is a strategic principle that Tissot has always applied.<\/p>\n Anyone can innovate, even if only by buying patents. What makes Tissot\u2019s approach so sophisticated is that it is combined with a strong concentration of skills, unrelenting high standards of quality and a commitment to affordable prices.<\/p>\n IR<\/em><\/strong>: How does Tissot target its key demographics and tailor products to meet their evolving needs?<\/strong><\/p>\n DR:<\/strong> We identify our key demographic through a combination of market research, data analysis and understanding of consumer behaviours.<\/p>\n By offering a diverse product range with varying styles and materials at strategic pricing, Tissot maintains its position as a leading watch brand catering to a wide and varied audience.<\/p>\n IR<\/em><\/strong>: What role do \u2018<\/strong>friends of the brand\u2019 like Lauren Jackson<\/strong> play in your overall marketing strategy, and how do they enhance Tissot’s brand image?<\/strong><\/p>\n DR:<\/strong> For the first time, Tissot proudly showcased a female-centric sports partnership as part of a groundbreaking global initiative. The tri-collaboration of our Seastar x WNBA x Wilson aims to strengthen our ties with two key players in the world [of women\u2019s sports].<\/p>\n This initiative taps into the growing support and coverage of female sports, therefore we took the opportunity to partner with Lauren Jackson who is an Australian professional basketball player. She\u2019s arguably the most notable Australian women’s basketball player and a five-time Olympian. This move resonates strongly with our target audience, emphasising inclusivity and gender equality.<\/p>\n IR<\/em><\/strong>: Your latest product launch, the T-Touch Connect Sport, features solar-power charging among other features. How do these technological innovations enhance the user experience and set Tissot apart from competitors?<\/strong><\/p>\n DR: <\/strong>Tissot has consistently been at the forefront of blending style and functionality. The watch boasts a battery performance that stands unmatched:<\/p>\n Functionality and performance are at the heart of the T-Touch Connect Sport, focusing on features tailored to modern, wellness-oriented and sporty individuals. From tracking workouts to receiving notifications, it emphasises well-being and connectivity.<\/p>\n IR<\/em><\/strong>: The product launch involved an interactive consumer activation at Melbourne Central. Can you describe the key activities and how they were designed to engage and educate customers?<\/strong><\/p>\n DR:<\/strong> Consumers had a chance to try their luck and participate in the Tissot 18:53 Stop the Clock Challenge.<\/p>\n Participants endeavoured to stop the clock at 18:53 to go in a draw to win a T-Touch Connect Sport timepiece.<\/p>\n Consumers also participated in \u2018Tour de Tissot\u2019 by using a Zwift stationary bike to ride a minimum of 1 segment on the Zwift Champs-\u00c9lys\u00e9es circuit to have another chance to go in a draw to win a T-Touch Connect Sport timepiece. There were two major prizes to be won.<\/p>\n IR<\/em><\/strong>: What was the main objective of this activation?<\/strong><\/p>\n DR:<\/strong> It was definitely the brand awareness and engagement we were after when deciding on the venue.<\/p>\n Over a week, we saw over 6000 individuals visit the activation site, not to mention the immense foot traffic of Melbourne Central train station that passed through the site daily.<\/p>\n IR<\/em><\/strong>: How does Tissot\u2019s current product offering align with the brand\u2019s broader business strategy?<\/strong><\/p>\n DR:<\/strong> Our current collection aligns with the brand’s business strategy in several key ways, ensuring the brand continues to appeal to a broad audience, whilst remaining competitive and relevant.<\/p>\n The development of the T-Touch Connect Sport is a testament to this, engaging with a generation who wish to stay connected and value the benefits of being able to track their fitness goals while sporting a stylish Swiss-made timepiece. <\/p>\n IR<\/em><\/strong>: What are your expectations for Tissot\u2019s market position in Australia, and how do you plan to achieve these goals?<\/strong><\/p>\n DR:<\/strong> Tissot\u2019s market position is characterised by our strong presence and reputation as a provider of high-quality Swiss watches at accessible price points.<\/p>\n We will continue to drive this position in the local Australian market supported by a strong retail presence with the introduction of new corporate boutiques in key strategic locations telling our brand story, alongside the continuation of new and innovative products.<\/p>\n IR<\/em><\/strong>: What challenges have you faced during the development and launch of new products, and how have these been overcome?<\/strong><\/p>\n DR:<\/strong> The launch of the T-Touch Connect Solar in October 2021 was a new and exciting challenge.<\/p>\n We decided to launch the collection with a few key wholesale partners alongside our corporate [direct-to-consumer] channels.<\/p>\n We heavily focused on a strong training program with the Tissot retail staff, to ensure they were confident with its functionality and Bluetooth pairing capabilities.<\/p>\n The launch was a huge success with Australia being one of the pioneering markets.<\/p>\n IR<\/em><\/strong>: What opportunities do you see for Tissot in the rapidly evolving smartwatch and luxury watch markets?<\/strong><\/p>\n DR:<\/strong> I believe the solar technology of the Tissot T-Touch collection is a real competitive advantage over many other smartwatches on the market.<\/p>\n We all have a mobile phone that needs charging almost every night, which begs the question, do we really want to charge our watch too?<\/p>\n IR<\/em><\/strong>: Sustainability is becoming increasingly important to consumers. How does Tissot incorporate sustainable practices in its product development and operations?<\/strong><\/p>\n DR:<\/strong> I believe a high-quality Swiss-made timepiece is the sustainable option.<\/p>\n If well looked after and maintained, it will last a lifetime and regularly gets passed through generations as opposed to a fashion watch which will generally end up in landfill.<\/p>\n Tissot has invested substantially in solar technology with the T-Touch Connect collection, \u201cPowered by Nature\u201d and we also moved to more sustainable eco-friendly packaging several years ago.<\/p>\n As a group, we are committed to working towards more sustainable business practices.<\/p>\n IR<\/em><\/strong>: What trends in consumer behaviour and preferences have you identified, and how is Tissot addressing these trends in its product offerings?<\/strong><\/p>\n DR:<\/strong> As I\u2019m sure we are all aware, we are [facing] global cost-of-living pressures [but] Australian consumers still want to treat themselves and their loved ones with luxury products.<\/p>\n A high-quality Swiss-made timepiece always makes the perfect gift. I have noticed during recent times, a downward shift in average value per transaction, suggesting consumers are spending a little less.<\/p>\n In response, Tissot has introduced a strong assortment of quartz timepieces [that offer consumers] incredible value while still maintaining the high-quality craftsmanship and materials that Tissot is famous for.<\/p>\n The post \u201cAnyone can innovate\u201d: Tissot GM talks solar-powered timepieces and tradition appeared first on Inside Retail Australia.<\/p>\n\n