Luxury timepieces are always associated with a very high price tag that isn't accessible for all consumers, so the Breitling Select Watch Subscription Service is positioned as a way to help change this. The service works by providing subscribers with access to up to three timepieces that they can try out for between one and six months at a time over the course of a year. Members can then purchase one of the timepieces at a special rate based on the amount of Squad Points they accumulated over the course of their subscription.
The Breitling Select Watch Subscription Service has timepieces sourced from a collection of refurbished watches and is priced at $129 a month along with a one-time fee of $450 to get started.
Luxury Timepiece Subscription Services
The Breitling Select Watch Subscription Service is Smart
Trend Themes
1. Luxury Timepiece Rental - Providing luxury timepieces through a subscription service creates new opportunities for a broader range of consumers to experience high-end watches at a fraction of the price of traditional purchase models.
2. Refurbished Luxury Goods - Breitling's decision to use refurbished timepieces is an innovative way to capitalize on the circular economy and the growing trend of consumers looking to make sustainable choices while still consuming luxury goods.
3. Membership Reward Programs - By implementing Squad Points to incentivize subscribers to purchase a timepiece, Breitling has capitalized on the trend of loyalty reward programs in the retail industry and made purchasing a luxury watch accessible to a broader audience.
Industry Implications
1. Luxury Goods - Subscription services are providing new opportunities for luxury brands to engage with a wider consumer base, particularly Gen Z and Millennial audiences.
2. Circular Economy - The use of refurbished luxury goods is a potential disruptive innovation for the luxury industry and creates a new business opportunity for companies that specialize in refurbishment and repair services.
3. Retail - The implementation of membership reward programs, such as Squad Points, is a potential disruptive innovation for the retail industry as a way to encourage loyalty and increase sales within a subscription model.