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Yeah it's definitely a different/harder sell.
I think there will at some point be a swing back away from the "LOOK AT MEEEE!!" attention currency stuff that everyone is coming out with at the moment. All the loud dial colours and textures, wacky case shapes, collabs, 12 colourways of everything, stone dials, influencer hype etc. etc. People will get fatigued/bored and move on.
The problem is (as Thomas van Straaten mentioned on a recent Fratello podcast), when small brands don't release or announce something regularly they fall off people's radars and all their sales and engagement dry up very quickly. So they're forced to stay on that treadmill of attention.
Regal
It's a whole different level of decision making / buyer between the two prices. I agree they'll struggle.
I'm also definitely not a fan of the be here or join this list to buy thing. I know supply is limited but fuck scarcity marketing.