Waiting queue at Swatch X Omega store

[MrEleven]

Originally Posted by Driver8

I have to say it's stuff like this that almost makes me embarrassed to be part of the human race.

Adults queuing for hours... in the dark... in the rain... during a pandemic... getting into fights... throwing their toys... and all to get their hands on a cheap plastic watch that isn't going to be limited in production (so will be made in the millions over the next few years), and will be available on-line in due course.

And let's be honest, these may end up settling at 2, 3 or 4 times retail on the secondary market after a very short period of time, so given the £200 RRP, people may be able to make, what, £600-£800 on it? Wow, big deal. Retirement to the Cayman's here we come!

Don't get me wrong, I think the MoonSwatch is pretty cool and I'll no doubt get hold of one at some point, but this behaviour is pathetic.

These resellers are quite often in need of money. I have a very good friend who is a sort of reseller with sneakers. His main job he makes a £400/£500 and he phoned me yesterday to ask if I would like to do a overnight in Edinburgh for the swatch x omega. I said no cause I wouldn’t wait overnight if they were giving them away for free but for my friend if he flips that for £800 profit that’s 2 weeks wages for him for one day waiting in line so that’s why a lot of these resellers do what they do,

[PO 2500D]

Originally Posted by Rolexken

One has sold for £5100 !! If it’s not crazy and a flippers friend driving up the price they will have a large sellers fee lol.

Holy cow! A £200 watch for £5100... x 25 retail, bonkers.

We really are through the looking glass on this.

[GreatHarry]

A buddy & I were going to travel up to Seoul, from Geoje this morning.
But he had a hospital appointment at 09:00.
Asked my wife to call the store in Seoul, only to be told about the queues and police being called.
If I’m honest, I don’t think that I was expecting the interest that’s been shown.
We’ll try and head up for the next releases.

[Swearengen]

I thought we were a nation of shopkeepers

Originally Posted by Kenworthy

In Britain we know as a nation of bargain lovers!! 😂😂

[JTL31]

I’m somewhat surprised they aren’t selling any at the Mall of America. The line would spiral into the upper levels.

[Old Expat Beast]

Originally Posted by Luke@TRF

not a great PR at all imo with these quartz "omega" flooding into the market

www.omegawatches.com/suggestions/quartz-watches

[arche3]

Fomo is real. Damn. Watch hype is crazy.

Sent from my SM-F711U using Tapatalk

[2001jesper]

3 min from the swatch store on Broadway, already a bit scared for what it waiting there fro me

[Scanspeakman]

Its just sad. People waiting in line for hours before opening and shortly after opening the first items appear on chrono24 and ebay for 3000-4000 usd. This is why I start to dislike this hobby more and more. But at some moment in time it will go away like any bubble.... patience...

[2001jesper]

Broadway store - but wont open today. Better than expected tbh

[Wahlberg]

Originally Posted by dshin525

Here is my review of the experience in Seoul.

I hope others had better luck!

So what happens when you need to pee? Can you leave the line or are you SOL (with or without a number)?

[JonaG]

Originally Posted by Swearengen

I thought we were a nation of shopkeepers

Sent from my iPhone using Tapatalk

[sski]

Originally Posted by Fleetlord

I have to give Swatch Group credit....they finally got the memo on building hype.

It's pretty easy actually, just takes some out of the box thinking and some "guts" to execute it. That being taking their iconic Speedy reference and allowing SWATCH to make a "cheap" version of it. That must have been a very unsettling thought....

BUT

It's exactly what works to get the hype train going....and hype is SOOOOO IMPORTANT to brands now. Like it or not, it just is.

Keys to success.

1) Low Key Retail. Great price that will allow for the perception of "value" when secondary market pricing blows that up...like "Supreme" or other HYPE wear.

2) Limited distribution...at least initially. Not limited editions, but limit WHERE they are available...only Swatch stores..but not all Swatch stores...etc etc

3) Social Media blitz. Drives FOMO. Many cannot be left out on this, whether to make a few bucks or to be "cool".

So, overall it's a great move by SWATCH group. Question is, what will they do with it next?

Always enjoyed reading your takes on brand management....with this move do u think Omega have gone from being the luxury Rolex competitor to being an overpriced Longines/Oris/Tissot competitor?

I feel they've damaged their brand and handed a win to Rolex/Tudor without even realizing. Tudor now is positioned well above Omega.

This move will have long term consequences to Omega- it will turn off collectors for one.

[Madman37]

Originally Posted by 1William

Interesting. I wonder how Swatch will handle this? Will they supply to meet demand or will they allow the Flippers to prevail? I would like to see them release the watches to regular stores within a week or so and also provide the Omega Boutiques and dealers. If not they will lose a lot of the momentum they have gained with this release. Online would be great also.

If this happens i don’t think you will ever need to ask when is the rolex bubble
bursting.

[GST15]

Originally Posted by Fleetlord

I have to give Swatch Group credit....they finally got the memo on building hype.

It's pretty easy actually, just takes some out of the box thinking and some "guts" to execute it. That being taking their iconic Speedy reference and allowing SWATCH to make a "cheap" version of it. That must have been a very unsettling thought....

BUT

It's exactly what works to get the hype train going....and hype is SOOOOO IMPORTANT to brands now. Like it or not, it just is.

Keys to success.

1) Low Key Retail. Great price that will allow for the perception of "value" when secondary market pricing blows that up...like "Supreme" or other HYPE wear.

2) Limited distribution...at least initially. Not limited editions, but limit WHERE they are available...only Swatch stores..but not all Swatch stores...etc etc

3) Social Media blitz. Drives FOMO. Many cannot be left out on this, whether to make a few bucks or to be "cool".

So, overall it's a great move by SWATCH group. Question is, what will they do with it next?

They will work to try to regain their reputation as a premium watch manufacturer,
or they will decide that cheapening their brand is more profitable, and continue in that direction. IMHO, a huge mistake.

[ezinhk]

Considering a few weeks ago people were flipping panadol and Cov test kits due to shortage, this doesn’t seem too sad…just plain stupid!

[train-time]

Sad commentary on the human race!

[shaunylw]

Oh man, Chrono24 there are a bunch of them listed at over $3,300 . People are delusional.

[mongrelnomoad]

I was at Oxford Street, then headed to Carnaby Street. At 6AM there must have been at least 2,500 people snaking through Bond Street and up and around Hanover Square; at Carnaby St. a few hundred, though the queue quickly got ragged when it doubled back and met itself.

At around 8:45am the police came around and told us there were only 150 watches (!) and asked everyone to leave. We did, but judging by social media, not only did most people not budge, but the queue kept growing and getting rowdier (it had been good natured till then).

Absolute carnage.

[sski]

Swatch group have mismanaged their premium brands....it's appalling.
Omega should've been a true Rolex competitor - and now this.
Breguet should've been a 'trinity' brand - but largely ignored.
Blancpain - level of desirability is 'meh'
GO so far is relatively unscathed, though barely marketed. ZERO brand awareness.

[rmwill]

They are killing it at Tissot. Omega is Tissot+ now.

Originally Posted by sski

Swatch group have mismanaged their premium brands....it's appalling.
Omega should've been a true Rolex competitor - and now this.
Breguet should've been a 'trinity' brand - but largely ignored.
Blancpain - level of desirability is 'meh'
GO so far is relatively unscathed, though barely marketed. ZERO brand awareness.

[TswaneNguni]

Originally Posted by sski

Swatch group have mismanaged their premium brands....it's appalling.
Omega should've been a true Rolex competitor - and now this.
Breguet should've been a 'trinity' brand - but largely ignored.
Blancpain - level of desirability is 'meh'
GO so far is relatively unscathed, though barely marketed. ZERO brand awareness.

That's why Cartier outsold Omega in 2021 .

[Wahlberg]

Originally Posted by sski

Always enjoyed reading your takes on brand management....with this move do u think Omega have gone from being the luxury Rolex competitor to being an overpriced Longines/Oris/Tissot competitor?

I find Omega overpriced nowadays for what they offer, most popular watches are overpriced by 2-3k USD minimum (Speedmaster, the new CK859 model, Seamaster, ...).

A speedmaster for 6-6.5k usd is a joke, it's a 4k watch. But everyone wants to ride the wave (or next one) that Rolex and others are able to ride so their prices followed.

[TswaneNguni]

Originally Posted by GST15

They will work to try to regain their reputation as a premium watch manufacturer,
or they will decide that cheapening their brand is more profitable, and continue in that direction. IMHO, a huge mistake.

The worst thing a luxury brand can chase is : Profits .The moment that happens its

Mass market chase profits
Luxury market chases quality and exclusivity .

[PeepingTime]

Swatch is now a luxury brand

[arche3]

Incredible pictures. I am frankly shocked.

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[Chewbacca]

My help who waited in line overnight said I have to buy 200 swatches to get on the Swatchmaster list.

How have you all done?

[subtona]

I’m getting on line right now….

For breakfast

[PeepingTime]

[francoamerican]

Originally Posted by TswaneNguni

The worst thing a luxury brand can chase is : Profits .The moment that happens its

Mass market chase profits
Luxury market chases quality and exclusivity .

What do you think the margin is on a Rolex or Omega?