Ice-Watch continues to maintain its leading position in the €50-99 price bracket for watches in the European market, according to figures for the first half of 2013 published by German market research institute GfK.
The Belgian watch brand – whose core offer falls in that price range – has retained its number one position in France and the Netherlands while consolidating its appreciable market share in the UK. In the market most affected by the economic crisis, Germany, Ice-Watch’s market share is still twice that of its closest competitors, the company said.
Furthermore, the brand is rising the ranks in the €100-249 price bracket with its higher end watches – it is now established among the top 10 brands in the segment. Growth is expected to continue with the launch of the Ice-Chrono Party range in the third quarter (RRP €139 and €149 in Unisex and Big sizes respectively), the new Ice-Vintage collection with leather straps, and Ice-Style watches with a stainless steel case at the average consumer price of €139 for the Christmas season.
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Ice-Watch maintains its lead in the €50-99 price segment (left) while slowly rising the ranks in the €100-249 bracket (right), according to German market research institute GfK | |
Ice-Watch attributes these results to the innovative marketing methods employed by the company to generate global brand recognition. These include a partnership with Thomas Cook Airlines which saw the new ICE models and the ten-colour Ice-Forever collection displayed on the fuselages of one of the airline’s planes. This is aimed at increasing the brand’s visibility in countries with strong growth potential across Europe and North Africa.
These high-profile marketing initiatives have successfully boosted brand awareness in Europe, according to the company. In Germany, 54% of people surveyed by Dedicated Resources in 2013 recognised the black and white Ice-Watch logo, rising to 69% in the under-35 age group. Similar results have been recorded in the Benelux countries and France.
In addition, Ice-Watch has established a strong social media presence in a bid to engage with consumers and build brand loyalty, reportedly becoming the first Belgian brand to cross the million fans mark on Facebook with 4.7 million fans.
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The launch of the new Ice-Chrono Party range in the third quarter is expected to boost the brand’s growth in the €100-249 price segment |
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The marketing programme includes a high-profile partnership with Thomas Cook Airlines |
