Luxury Watch Market Grows

Despite the ongoing impact of the Global Financial Crisis on the international economy, the market for luxury watches such as Burberry watches continues to grow at a rapid pace. Much of the growth in the global market for luxury goods of all kinds is being driven by luxury consumption in China, which accounts for a quarter of the world’s total luxury consumption, beating the United States and surpassed only by Japan. However, countries such as Australia are also seeing growth in the sale of luxury watches, especially among products targeted at men. Part of the increase in Australian luxury watch sales are thought to be due to Chinese tourists visiting Australia and buying luxury goods while here to circumvent the high import duties levied on luxury imports into China, but domestic consumption is also believed to have risen significantly over the last few years, twenty five per cent since the year 2010. Click this link http://dcwatchesaustralia.com.au/ for more watches for women. 

However, the world market for Invicta watches for sale is expected to slow in growth over the next few years. The Chinese government is cracking down on corruption, and as a result ostentatious displays of wealth are becoming relatively less popular. Luxury watches were seen as a stereotypical example of a bribe given to crooked officials, and so an increasing number of people in Chinese cities are beginning to see it as tasteless and a bit unwise to sport their fashionable and expensive new Diesel watch. As a result of this, luxury watch exports from Switzerland declined by fifteen per cent in 2013 following the introduction of new anti gifting measures for government officials in China. Nevertheless, due to more sales in other markets, growth continues unabated in the luxury watch sector, particularly from holidaying Chinese buyers abroad in Hong Kong, Europe and to a lesser extent Australia.

Luxury watches are increasingly favoured by many buyers who appreciate the range of both classical and timeless styles and more bold, stylish designs from watch making design houses such as Marc Jacobs watches. Although some foretellers of doom predicted the end of the watch with the rise of ubiquitous mobile phones and other devices with an in built clock, in fact watch sales at all levels has risen over the last few years. As watches become less and less practically necessary for day to day life, people in fact have increasingly appreciated the fashionable accessorising potential of watches. At all price points, watch sales are increasing. The growth of online sales now means that watches can be bought more affordably than ever before, especially in countries such as Australia where companies would typically apply multi market price discrimination. Although international multi market price discrimination tends to be more prevalent at the middle of the market, rather at the higher end where a premium price is almost universal, Australia has often been charged higher prices for a whole range of products including luxury watches due to our comparatively strong economy and high average incomes.