 |
SWITZERLAND. WorldWatchReport 2010, a market study deciphering the online demand for 25 luxury watch brands, has unearthed key findings related to areas such as the emerging markets and social networking.
The report, now in its sixth edition, is compiled by luxury digital marketing firm IC-Agency with the support of the Fondation de la Haute Horlogerie and watch magazine Europa Star.
Key highlights of the 2010 report:
– Despite a gloomy economic environment, demand expressed for haute horlogerie (luxury) brands registered a +14% increase in 2009.
– Emerging BRIC markets already account for 12% of global demand for luxury watches on the Internet.
– Facebook has become the biggest online community for watch fans, with more than 300,000 declared aficionados. Hublot is the most popular brand on Facebook with 56,000 fans.
The study deciphers queries entered into Internet search engines from millions of prospects for 25 luxury watch brands.
The survey covers 10 key markets, including – for the first time – BRIC markets Brazil, Russia, India and China as well as the top export markets of the US, Japan, the UK, Italy, France and Germany.
 |
Increase in demand for luxury watches
The global search volume linked to the 10 haute horlogerie brands increased by +14% compared to 2008. An encouraging sign showing the interest for exclusive products with an average value above CHF15,000, despite a difficult economical context.
Blancpain, Jaeger-LeCoultre and Audemars Piguet realise the best performances for the Haute Horlogerie category with strong online increases of +115%, +114% and +81%.
The biggest slowdown concerns Zenith (-51%). But the brand remains the second most searched for in this category with 16.3% of search volume, behind IWC (24.7%).
 |
 |
Most searched for Haute Horlogerie models
Among the 120 models analysed in the Haute Horlogerie category, the three most popular ones are: Jaeger-LeCoultre Reverso (8.2%); Audemars Piguet Royal Oak (7.1%); and IWC Portuguese (6.3%).
This trio accounts for 21.6% of product-related searches for Haute Horlogerie. The other models (more than 100) represent almost 80% of the remaining demand for this category, showing how fragmented this market is.
Some new models also made their way into this ranking: Pilot and Spitfire by IWC, Zenith El Primero and Blancpain Flyback.
Watch ambassadors
Adding India to the study’s scope results in Audemars Piguet and Sachin Tendulkar leading the ranking of the most searched for Haute Horlogerie brand ambassadors. More than one out of two searches (55%) concern the famous cricket Indian player, pushing the 2008 number one Jaeger-LeCoultre and actress Diane Kruger to second place.
In the coming years, it is likely that other ambassadors coming from the BRIC markets are going to challenge Hollywood actors and renowned athletes, the report said.
 |
BRIC markets
Demand coming from Brazil, Russia, India and China already accounts for more than 12% of global searches for prestigious watch brands.
The eighth export market according to the FHS (January-October 2009), China alone accounts for 38% of the demand coming from the BRIC markets, followed by Brazil, Russia and India with 28%, 20% and 14% respectively.
In these markets, Patek Philippe, Zenith and IWC are the three most searched for Haute Horlogerie brands with 2.3%, 2% and 1.9% of the demand.
The report authors write: “It is interesting to see that Internet positions itself as a media able to reach consumers living in these emerging markets, in which culture and appetite for luxury watches are constantly rising.”
 |
The Facebook social network
More than 300,000 people have subscribed to the fan pages of the 25 watch brands, a +440% jump in the number of watch enthusiasts over less than one year.
Among the biggest increases, Hublot is the “unmistakable winner” with more than 56,000 fans on the “Hublot-Genève” page compared to its 1,700 fans six months earlier. Following are Cartier and TAG-Heuer with 44,500 and 36,600 fans, respectively.
For Haute Horlogerie brands, the most popular fan pages are IWC, Audemars Piguet and Vacheron Constantin with 8,300, 5,600 and 3,300 declared aficionados.
About the WorldWatchReport
The market study carried out by IC-Agency is published in partnership with Europa Star watch magazine with the support of the Fondation de la Haute Horlogerie. The report analyses the demand for 25 luxury watch brands in 10 markets (Brazil, Russia, India, China, Japan, US, UK, Italy, Germany and France). Haute Horlogerie watch brands covered in the study: Audemars Piguet, Blancpain, Breguet, Girard-Perregaux, Jaeger-LeCoultre, Patek Philippe, Vacheron Constantin, Franck Muller, Zenith, IWC. Women’s jewellery watch brands: Bulgari, Cartier, Chopard, Piaget. Prestige watch brands: Breitling, Hublot, Omega, Rolex, TAG-Heuer. High-range watch brands: Baume & Mercier, Ebel, Longines, Montblanc, Raymond Weil, Rado. Visit www.worldwatchreport.com
MORE ON THE WORLDWATCHREPORT
New watch report highlights Chinese consumer trends – 30/04/09
