What moves the digital world of luxury watches
In the 2014 edition of The WorldWatchReport™ by Digital Luxury Group there are several key new findings which provide valuable insight into the fast changing digital world of luxury watches. In a tracking of 62 timepiece brands online, Rolex was the most-searched-for on a global scale, followed by Omega, Tag Heuer, Cartier, Breitling, Patek Philippe, Longines, IWC, Rado and Hublot.
At conglomerate level, interest in Richemont’s brands grew the fastest, increasing by 13.08%, followed by Rolex (12.02%) and Swatch Group (5.87%). Interest in privately owned brands online increased by just 1.49%, as LVMH Watch brands experienced a decline of 5.43%.
Despite a slowdown of luxury watch sales in Asia, global consumer demand for luxury watches grew by 5.7%. Global demand was fueled once again by BRIC markets with the highest year-to-year increases in China (up 59.4%), Russia (up 20.4%) and India (up 12.0%).
Historically established mature markets such as Germany (down 9.2%), the United States (down 7.9%), and Japan (down 5.5%), experienced single digit demand decline, whilst Italy (up 8.8%) and the United Kingdom (up 3.1%) saw growth in interest versus 2012.
The Brazilian market fails to deliver amid high expectations (down 2.9%), ahead of an important year for luxury watch brands in the market (World Cup and Olympic Games in 2016).
According to the report, interest in watches in China grew by a staggering 59%. The Chinese luxury market is not dead: Interest in all luxury watch categories continues to escalate, led by top 3 brands Omega, Cartier and Rolex. The Top 3 models in China were Omega’s Constellation, Cartier’s Ballon Bleu and Omega’s De Ville.
The Haute Horlogerie category grew the fastest (up 13.16%) thanks to brands such as Glashütte Original (#49, up 35.27%), UlysseNardin (#30, up 35.36%) and Vacheron Constantin (#13, up 34.59%).
Timepiece brands are still bolstering their Facebook audience at a rapid rate, regrouping nearly 69 million fans on the world’s largest social network, growth of 39.27%. Rolex commands the largest audience on the site, with 1.7 million-plus fans. Timepiece brands are still bolstering their Facebook audience at a rapid rate, regrouping nearly 69 million fans on the world’s largest social network, growth of 39.27%. Rolex commands the largest audience on the site, with 1.7 million-plus fans.