The Battle At The Top Of The Watch Market Continues
The global watch market is extremely diverse and the consumer is spoilt for choice. The range of watches available is incredible and a wealthy individual must wonder where to begin when choosing a new watch. The famous names of Swiss watch making have never produced such a wide range of timepieces. The cost of one of these masterpieces of craftsmanship can vary from a few hundred pounds by hundreds of thousands. Many of the classic Swiss watches from just a few decades ago have proven to be a great investment and some classics are now fetching between twenty and fifty times their original purchase price.
The reality for most consumers if that a few hundred pounds is at the top of their budget. In reality you can still purchase some excellent quality watches that maintain their value for as little as five hundred pounds. Examples of good quality and high quality timepieces in the five hundred to a thousand pound price bracket, include Tag Heurer, Gucci and Omega. These watches still regularly fetch more at least seventy to eighty percent of their purchase price after four or five years. Whilst this does not really qualify as an investment, it certainly makes them a low depreciating asset.
The majority of watches purchased tend to be under one hundred pounds and this space in the market has an ever increasing number of brands entering it. In fact there are very few fashion and designer brands that have not added a range of watches to their portfolio of products. Designer brands such as Hugo Boss and Versace have been in the watch market for several years now, however there are many new entrants such as Lacoste.
At the lowest end of the market many sports brands are now producing not only cheap sports watches, but also brightly coloured fashion watches with imitation diamonds on them. Companies such as Adidas and Puma have become a strong player in the market and their merchandise can be seen alongside their sports clothing and equipment in most sports shops.
The humble wrist watch has now grown into a multi billion pound global business that compared to just a decade ago is virtually unrecognizable. Many people now own several watches for different occasions or even just to co-ordinate with the colour of their clothing. In conclusion to the question who is winning the battle at the top of the watch market, probably no one and everyone.
Questions and Answers
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