An item often labeled for businessmen is high-end watches. In business stories, people sometimes don’t compare what color suit he wears, but sometimes just look at the watch he wears to evaluate the opposite person. Therefore, famous businessmen do not hesitate to invest in watches with heavenly value to show their class. It is also the subtlety, behind the gears, every second, every minute passes. Because of the special customer base, even though the economy was heavily affected after the epidemic, we still witnessed a boiling over in the watch market. In today’s article, let’s take a closer look at this market with Storepc!
Also during the pandemic, in contrast to the stagnant service economy, the fashion market as well as high-end jewelry was extremely active. In particular, sales of luxury watches have skyrocketed during the pandemic as consumers spend money spent on travel and entertainment on high-end items. After the pandemic, with the online shopping platform that has been built during the Covid period, along with the reopening of a series of flagship stores, retailers continue to receive huge profits. Watches of Switzerland annual revenue increased 40% to $1.54 million and is expected to continue to earn Watches of Switzerland annual revenue increase 40%, to $1.54 million by 2023.
According to the director of Watches of Switzerland, despite the increase in production, products of high-end brands such as Patek Philippe and Audemars Piguet are constantly in short supply. Currently, luxury watches have become a highly valued investment object around the world, in the past 5 years, although the supply has remained constant to ensure product quality, the demand for owning high-end watches has increased. the higher. Many luxury brands such as Rolex, Cartier, Tudor have all announced out of stock until at least November this year. It is not a watch shortage in general, rather, this phenomenon occurs only with the most famous and coveted models. Examples with Rolex are sports steel watches or “Professional” Rolexes like the Submariner, GMT Master II, Explorer and of course the Daytonas.
Creating each detail is extremely time-consuming, including the lengthy stages of watchmakers having to manipulate extremely small products. Along with that is the strict adherence to the quality of the watch collectors, who can respect and spare a large amount of money to be able to own a high-end watch product from the best watch brands. this brand. For many people, owning a high-end watch also proves the level of the wearer. Also part of their personality as well as their style.
The price of high-end watches will continue to soar if brands do not increase supply, but this will also cause inflation in the high-end jewelry market. There are also many consumers who have sought alternatives in the more mid-range segment, enabling many businesses to trade watches around the world.
Besides, do not forget to refer to: History of luxury Swiss watch brands: Rolex