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Originally Posted by rjohnston713
I agree with this totally. I don't understand how hard it is for Rolex to just have a centralized database that customers get added to across the ADs and then they can see where and when to send models to based on demand.
Prioritizing the younger generation should be a major concern for the company and all watch makers. They are all living in the clouds with how the last few years have breathed life back into the industry.
Im 35 and if Im trying to get into watches long term I hate to say it but barring major tragic life events I have more decades of purchasing power ahead of me than other established customers. They need to do more to get younger people into the brands. I am running into the same thing at PP, AP. and VC. Oh you don't have a purchase history but no we can't get you a watch to start your purchase history. I have 4 Rolex ADs here and none of them has been able to get me a simple blue OP 36 or mint green 36 DJ in 2 years....
Oh and that's not even factoring in Millennials and Gen Z are about to receive the largest transfer of wealth in human history coming from the Boomers and older generations. These companies are missing the forest for the trees just because its easy at the moment.
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I think that the database topic has been discussed before, and one conclusion was that Rolex didn't want to take on the privacy law exposure by keeping all the customers' data. However, I personally think it makes perfect sense to do so.
Regarding these watch brands shooting themselves in the foot with younger generations, I definitely agree. Many brands had their time in the sun the last 3-6 years, and the chickens are coming home to roost on the grey market now. Look at brands like Vacheron or Czapek. They hit highs you would've never predicted, and things are correcting.
Rolex, AP, and Patek, on the other hand, I think has done so much damage to their brand experience that I think it will be hard to shake off down the road. As Warren Buffett once highlighted, customers often forget things about that they bought, including the price, but they usually don't forget whether the experience was good or not. The majority of people walking into the majority of ADs are not walking out with a good experience right now.
You're not even able to get the most simple entry level models from the brand, and yet you have people who have been able to buy multiples of even the hardest to get models. It is so backwards and an absolute racket being ran that Rolex at this point is complicit in allowing.