The study, published by Digital Luxury Group in collaboration with Europa Star Watches World, tracks the 40 best-known luxury watch brands in 20 major markets worldwide. The report uses Digital Luxury's expertise to identify and analyze watch-related searches a billion times and translate them into customer intentions with brands, models, distribution, fake products, prices, and accessories.
China: the largest luxury watch market
Since the report began in 2004, China surpassed the United States for the first time to become the country most in need of luxury watches. In China, the most-watched brand was Omega, which accounted for 20.2% of searches; followed by Longines (18.9%) and Rolex (10.5%).
Global demand is driven by the East
In addition to witnessing China's growth (7.8%), other countries such as Japan (3.5%), India (0.66%) and Russia (0.5%) both grew over last year. Most Western markets remained stable, with some even having declines in market share, such as a 9.2% fall in the United States, a 1.7% fall in Germany and a 1% fall in Italy.
Rolex and Omega shorten the distance
Market demand for the watch industry's two giants show that the gap between Rolex and Omega in recent years has rapidly approached. This year's report shows that the gap between the two was only 2.3 percentage points; this gap was 8.4% in 2009. The main reason is that Omega won the market share in China, while Rolex consolidated its position in the depressed western market.
The top three most popular watch models (Source: The 2012 WorldWatchReport â„¢)
The top three most popular watches
Of the more than 1,300 watches tracked by the World Watch Report, the top three are Omega Seamaster, Rolex Submariner and Rolex Daytona. It is noteworthy that, like the TAG Heuer Carrera, Cartier's Tank is also popular, and entered the top ten watch search rankings.
Consumers' interest in counterfeiting is reduced
Related searches for counterfeit and replicas declined, compared with 4.5% last year, this year's search for luxury watches accounted for only 1.85%. At the same time, Rolex accounted for 51% of the global demand for counterfeit imitations, followed by 9% of Breitling's and 5.3% of TAG Heuer. (Sri Lanka)