Omega SWOT Analysis, Competitors & USP

Omega

Parent Company

The Swatch group

Category

Watches and Accessories

Sector

Lifestyle and Retail

Tagline/ Slogan

The sign of excellence; The watch The World Has Learned To Trust Omega. The right time for life

USP

Omega offers technologically innovative & stylish luxury watches

Omega STP

Segment

Premium luxury watches

Target Group

High Income group men and women

Positioning

Omega is a luxury watch brand associated with precision, accuracy and a pioneering spirit

Omega SWOT Analysis

Strengths

Below is the Strengths, Weaknesses, Opportunities & Threats (SWOT) Analysis of Omega. Strengths are:

1. Omega has an image of high quality substantiated with long warranty periods

2. Omega is the official time keeper of most sporting events like Olympics and Golf tournaments leading to its association as an accurate watch brand

3. Its watches are known for its Co-axial technology

4. International celebrities represent Omega as brand ambassadors.

5. Part of the Swatch group that has 28,000 employees across 50 countries with 250 boutiques locations across the world

6. Excellent advertising of Omega watches through TVCs, online media, print ads, sponsored events etc

7. The company has had prominently been placed in popular movies and was associated with NASA's moon mission

8. Omega offers a wide product range for both men & women in the luxury watch segment

Weaknesses

Here are the weaknesses of Omega :

1. Limited market share growth of Omega watches due to high competition in the segment

2. Imitations of branded watches hurt brand image and sales

Opportunities

Following are the Opportunities of Omega :

1. Omega brand can expand into new categories of watches furthering its image of being pioneers

2. Growth opportunities are high in the luxury segment in developing and emerging economies in the world

3. The brand can explore digital watches as an area to explore and expand business

4. Increasing brand awareness further can help Omega grow

Threats

The threats of Omega are as mentioned :

1. Competition from other brands in the having a stronger positioning than Omega can hurt sales

2. Fluctuating economies means limited spending on luxury items

3. Fake & cheap imitations cause damage to brand

Omega Competition

Competitors

Below are the 16 main Omega competitors :

1. Breguet

2. TAG Heuer

3. Cartier

4. Rolex

5. Longines

6. Rado

7. Tissot

8. Hublot

9. Patek Philippe

10. Swatch

11. Chopard

12. Breitling

13. Seiko

14. Richemont

15. Panerai

16. Ulysse Nardin