Digital Luxury Group unveils haute horlogerie World
Watch Report results
23 January 2012 | By Laura McCreddie
The leading market research for the luxury watch industry released its findings, based on analysis of consumer searches through engines such as Google, Bing, Yandex and Baidu, for the 15 high-end watch brands that participated in this year’s Salon International de la Haute Horlogerie (SIHH).
It found that, for the first time since 2004, China has over taken the US to become the highest consumer of high-end watches, with 25% of international search market share, compared to 21% for the US.
Another first was Audemars Piguet’s Royal Oak usurping Jaeger LeCoultre’s Reverso as the most wanted haute horlogerie model. For the first time in three years the Reverso is now third behind the Royal Oak and IWC’s Portuguese.
Despite the Royal Oak being the most wanted watch, the report found that the most searched brands are IWC, which has 23% of the online demand, Patek Philippe, which has 16%, and Zenith, which has 11%.
This result could be due in part to IWC’s social media presence. The brand is active on Facebook, Twitter, and Sina Weibo, a Chinese microblogging website. On Facebook alone IWC has a 230,000 strong community, making it over double the size of its closest competitor Jaeger LeCoultre on 85,000.
The full edition of the WorldWatchReport, which covers 40 brands and 20 markets, will be available in March at BaselWorld