Digital marketing specialist IC-Agency has released the 5th World Watch Report market study. Its conclusions are based on a sample of more than 300 million global online searches relating to 25 watch brands in 7 export markets: China, Japan, the United States, the United Kingdom, Italy, France and Germany. The study found that the 3 most-searched watch models are the Omega Seamaster and Speedmaster, and the Rolex Daytona, in that order.
In terms of global demand distribution for luxury watches, Europe leads the way with a 44.2% market share. Within Europe, the UK is tops (14.6%), followed by Germany (12.1%), Italy (9.6%) and France (7.7%). The USA remains the most important single market at 42.8%. Asia is still weak, with 13.2% market share, but China (7.4%) overtakes Japan (5.8%). This is important because China’s level of Internet usage is only 22%, compared with 74% in Japan. The Chinese are mainly interested in brands (77%), and are less interested in models (less than 10%, compared with an average of about 18%).
Social media networks are gaining in importance. IC-Agency says “Social media platforms like Facebook and YouTube are becoming crucial meeting places for luxury watch brands.” On Facebook with 180 million members, Cartier dominates with 30,000 fans, followed by TAG Heuer (18,500), Rolex (17,500), Bulgari (14,300) and Breitling (13,600).
Looking at luxury watch ambassadors, Omega — the highest ranked brand (17%) — uses the “Michael Phelps effect”: an American swimmer who beat the Gold Medal record in a single Olympics (8 medals), in the Beijing Olympic Games. Six of TAG Heuer’s ambassadors are ranked in the top 20. At the top of the line is golfer Tiger Woods, who garners 15% of searches, followed by Bollywood star Shah Rukh Khan (7%), Formula One racing driver Lewis Hamilton (4%), actor Leonardo DiCaprio (3%), tennis star Maria Sharapova (3%) and deceased actor and racing driver Steve McQueen (2%).
The 25 watch brands covered by the survey are divided into 4 categories:
Luxury: Audemars Piguet, Blancpain, Breguet, Girard-Perregaux, Jaeger-LeCoultre, Patek Philippe, Vacheron Constantin, Franck Muller, Zenith, and IWC.
Women’s Jewelry: Bulgari, Cartier, Chopard, and Piaget.
Prestige: Breitling, Hublot, Omega, Rolex, and Tag Heuer.
High Range: Baume & Mercier, Ebel, Longines, Montblanc, Raymond Weil, and Rado.
You can read more about the report by clicking here.