China has overtaken the US as the largest luxury watch market, according to the WorldWatchReport, a leading market research report for the watch industry that tracks watch-related internet search terms.
For the first time since the study launched in 2004, China surpassed the USA as the country exhibiting the highest demand for luxury watches, representing 23% of all watch-related searches.
Omega was the most-searched brand among Chinese luxury watch buyers, followed by Longines and Rolex.-
China recorded the highest year-on-year increase in searches for luxury watches with a rise of nearly 8%. Most western markets experienced significant market share drops, led by the US where interest in luxury watches dropped 9%.
Breaking China’s watch-related searches data down by province provides some interesting but not necessarily illuminating findings.
While Omega and Longines hold the top two positions in most provinces, Guangdong province shows a preference for Rolex while Cartier‘s highest interest level is in Shanghai.
Patek Philippe is most favored by Beijing and Guangdong provinces, and Vacheron Constantin is the winner in Zhejiang and Jiangsu.