Watch Out: China’s Young Influencers Lead Timely Recovery of Global Luxury Watch Market

China now seems set to lead the recovery of this entire industry, and it's all due to a large generation of young, affluent consumers and the e-commerce strategies luxury watch brands have designed specifically for them According to data from The Federation of the Swiss Watch Industry, the early part of 2018 saw the luxury watch market's largest growth in almost five years, with Hong Kong and Mainland China leading the comeback From January to June of 2018, Hong Kong and Mainland China contributed over $2376 million in exported sales, with the US.

purchasing $108.6 million worth of luxury watch exports The far-reaching anti-corruption campaign led the Swiss watch market's global export value to drop by 3.2 percent in 2015 and then a hefty 9.9 percent in 2016, according to The Federation of the Swiss Watch Industry "Thanks to recovery in the Chinese economy and consumers trading up, demand for high-quality watches increased," said market researchers Euromonitor International in a company statement to Jing Daily, "And exports of Swiss watches to Mainland China witnessed a rebound over the recent 2018 review period" "Chinese clients have become the largest group of customers for luxury goods worldwide, including Swiss watches," said Audemars Piguet's Greater China CEO David von Gunten to Jing Daily.

Looking Ahead For the global luxury watch market to continue to benefit from strong China sales, von Gunten explains that it's not just the marketing strategy that needs to be creative. . Source