Andrew Burnstine – Retail Matters
Top Swiss brands have undergone an about-face after soaring to unprecedented levels on the secondary market in early 2022, when stuck-at-home shoppers shovelled pandemic savings into pricey timepieces.
Prices for the most sought-after luxury watches slipped on the secondary market again last month, extending a two-year decline as investors turn elsewhere after a pandemic-era rally fizzled.
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Great podcast Dr. Fashion: Here are some additional facts about the Luxury Watch Market
The luxury and vintage watch markets are projected to grow significantly from 2024 to 2025. The luxury watch market is expected to expand at a compound annual growth rate (CAGR) of around 5.2% from 2023 to 2030, driven by strong brand positioning, increasing demand for premium fashion items, and the expansion of online retail channels. The market is anticipated to reach a value of approximately USD 62.25 billion by 2030
Technological advancements and innovative designs continue to attract affluent customers, with companies like Apple, Rolex, and The Swatch Group leading the market. The vintage watch segment is also benefiting from a rising interest in unique and rare pieces, which are seen as collectible and nostalgic
Overall, both markets are poised for robust growth due to strong consumer demand and strategic brand initiatives.
That is what happens when you cut the middle men and women who saved their hard-earned money to purchase a good product that cost a fortune!