It seems that nothing and no one is impervious to the digital wave that’s sweeping across businesses around the globe, including the world of horology. The Peak speaks to leaders of the watch industry to better understand how this march towards digitalisation is making its impact on an area that prides itself on the rich history, careful mechanics and art of it all.
Jean-Claude Biver, CEO, TAG Heuer & President, LVMH Watch Divison
What are your thoughts on watchmakers going digital?
It is one of the biggest challenges facing the industry now. However, I think this is the direction the brands need to take, especially to engage the new generation to buy traditional watches.
What role does e-commerce play in your strategy for TAG Heuer?
It is, by far, the fastest growing channel and is already representing very solid numbers. More and more consumers are shopping online, and it will only accelerate as millennials and digital natives are only now entering the market of luxury Swiss watches.
We hear that TAG Heuer is now in the process of building its own shoppable sites over the next 18 months. Tell us more.
Our website is in constant evolution, adapting to customer behaviour and using the possibilities offered by new technologies. The purpose of tagheuer.com is to offer the best shopping experience you can have on the internet if you’re interested in luxury watches. The customer will discover the world of TAG Heuer and the collections, as well as being able to personalise their TAG Heuer Connected Watch. By 2020, our goal is to increase our total business on tagheuer.com, and on retailers’ websites. Our website is currently launched in the US, the UK, Australia and Switzerland, and it will expand soon.
How about social media?
TAG Heuer spirit as an avant-garde since 1860 is to dare and to be first. We are very proud to have been one of the first watchmaking brands to adapt a different tone of voice on social media, and to adapt our communication with less formal speech. This is a great tool to be closer to our fans and customers. As an accessible luxury brand, social media platforms provide a great way to directly engage with our fans through content and live experiences, and even driving direct sales through social commerce functionalities.
In April, TAG Heuer launched a unique retail concept with horology’s first ever fully modular store in Tokyo, Japan. Does this mean that TAG is doubling down on its retail presence?
With this unique concept, which brings the brand even closer to the ultra-connected youth of today, TAG Heuer has moved even further away from the traditional, conservative codes of the watchmaking world. This new boutique concept is perfectly in line with the avant-garde spirit of the brand.
So, both the digital and physical experiences are important to the brand?
Both are interconnected all the time, on all sides of the brand: it’s in the products with the TAG Heuer Connected Watch; in retail, with new stores like the modular Ginza boutique; in sales with e-commerce; and physical stores and in marketing, with digital activations extended online.
