The luxury watch industry

: a market opportunity analysis for collectID

Abstract

CollectID is a Swiss startup providing a technology that solves the problem of counterfeits while offering a new channel for digital brand interaction by combining physical products with a digital environment to create a so-called phygital product experience. Since collectID was not able to identify an appropriate target market where its value propositions meet real customer needs from a B2B- and a B2C-perspective, this thesis analyses the luxury watch industry as a potential target market for collectID using three research approaches. Firstly, interviews with representatives of luxury watch brands revealed that some customer segments are having needs for both of collectID’s value propositions. Furthermore, even though these companies are not well digitized yet, there are innovators in the market. Secondly, a consumer survey revealed four distinct consumer segments. However, while consumers have a real need for digital brand interaction, they do not do so regarding authenticity. Thirdly, interviews with the team of col-lectID showed that the company should mainly target collector’s brands and innovators.Finally, managerial implications were derived based on the findings of this study and further existing research on target market selection. As a final recommendation, this thesis concludes that collectID should not target the luxury watch industry since it does not meet real customer demands from a B2C-perspective.

Date of Award	30 Jul 2021
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	João Cotter Salvado (Supervisor) & Rute Xavier (Co-Supervisor)