High-end quartz analogue watches and high mechanical watches continued to see the fastest growth in watches in Australia. High mechanical watches are receiving a boost from the introduction of new variants by some of the most renowned players in the industry.
Luxury brand owners are now experimenting with different types of strap materials to make their watches even more unique, since straps are now growing to be just as important as the dial. Exotic leather straps are growing in demand and more collaborations between watch companies and luxury brands are therefore expected to be seen.
Consumers, millennials in particular, are looking for watches that reflect their personalities and this trend can be seen in some companies introducing watches with distinct personalities. Citizen has introduced watches categorised according to different generic personality types, namely active, modern and traveller types.
Daniel Wellington, a Swedish watch start-up, sold more than a million watches in 2018 with the help of its clever influencer marketing strategy. The brand has jumped up the rankings in mid quartz analogue watches and is now competing directly with established brands such as Swatch, Michael Hill, Casio and Seiko.
Watch brands such as Piaget, Blancpain, Breguet, Patek Philipe and Vacheron Constantin, responsible for producing many best-selling watches, are being sold through numerous watch distributers, such as The Hour Glass, Watches of Switzerland and J Farren Price, as they do not yet have their own boutique stores. While IWC Schaffhausen has a boutique in Melbourne, in Sydney it distributes its timepieces through authorised dealers.
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