Luxury Watch Market Continues to Show Strength
The luxury watch market continues to stay strong across the world. Digital Luxury Group is a Luxury industry market intelligence firm and they just released the results of the haute horlogerie category (18 brands) of the WorldWatchReport.
The data used as a basis of this luxury watch industry report were derived from analyzing watch-related search queries searched on the major global search engines.
Results show that for the haute horlogerie category, global interest in 2012 increased by 7% over the prior year. The findings also determined that the world’s most popular watch brands and models remained consistent as compared to 2011.
The preview report from Digital Luxury Group tracked online interest in the following watch brands: A. Lange & Söhne, Audemars Piguet, Blancpain, Bovet, Breguet, De Bethune, Frank Muller, Girard-Perregaux, Glashütte Original, Greubel Forsey, Jaeger-LeCoultre, Jaquet Droz, Parmigiani, Patek Philippe, Richard Mille, Roger Dubuis, Ulysse Nardin and Vacheron Constantin.
Audemars Pigue Royal Oak
There were six key findings highlighted in the WorldWatchReport by Digital Luxury Group. They are as follows:
1) Highest-end category of luxury watches, haute horlogerie, experienced a 7% year over year increase in brand interest.
2) China shows very strong interest in the luxury watch market, accounting for 31% of global demand. That number is twice that as the U.S. market. Brazil, Russia, India, China, Singapore, Thailand, Hong Kong, and Taiwan accounted for almost half of the worl’d interest at 47%.
3) Global demand is down to two of the largest mature luxury watch markets – U.S. down by 10.6 percent and Japan is down by 11.7 percent.
4) The top haute horlogerie watch brand is Patek Philippe with 23.6 percent of brand interest share, followed by Jaeger-LeCoultre at 12.7 percent, Vacheron Constantin at 12.6 percent, Audemars Piguet at 9.2 percent and in 5th place is Breguet at 7.7 percent.
5) Richard Mille brand became the fastest growing haute horlogerie brand with 61% growth over last year)5. Vacheron Constantin followed with 26% and Patek Philippe came in at 10.2%
6) Audemars Piguet’s Royal Oak remains at the top of the list for the most sought-after haute horlogerie watch model. Following its lead last year, the luxury watch brand experienced a 5% increase in online interest over the last year.