The first half of 2020 brought unprecedented difficulties imposed by the COVID-19 pandemic. Stores had to remain closed and consumers had to go through quarantine periods that made the industry project some of the rarest prospects for luxury: negative results for the full year.
Among all luxury products, luxury timepieces is one of the best positioned categories in terms of longevity, since such items in general are made of very resistant materials combined with the careful usage of the collectors. For this reason, specialised reselling agencies and auction houses have been working on projections of appreciation in value of these items up to 2030.
“Glocalisation” has been gaining traction as an important trend driving sales. Tourists always seek authentic objects that can only be found in the countries visited.
Classic models of luxury timepieces are expected to remain relevant especially among collectors and affluent consumers who express a profound relationship with the category. However, the most frequent consumption of luxury watches tends to require more updated functionalities for contemporary routines.
The second-hand market for luxury timepieces is growing, the prices of the models are increasing and improvements in the tools to monitor this expansion will tend to become more important in the coming years. Luxury manufacturers gain power when their brands are proven to be more likely to be resold.
Even though new technologies are emerging with the popularisation of smartphones, traditional luxury timepieces are expected to remain relevant, especially among affluent collectors who frequently look for new pieces to be used on different occasions. Thinking about these groups of collectors, brands are intensifying their communication with special editions dedicated to these group.
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This is the aggregation of luxury men's and women's luxury timepieces.See All of Our Definitions
This report originates from Passport, our Luxury Timepieces research and analysis database.
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