In the digital age, Chrono24 has been an Important tool to the modern Watch Collector
The pre-owned watch market is a fast growing segment which groups like Richemont are now starting to deal with but one platform has grown beyond mere sales of watches, providing valuable data and brand insight on some of the world's most popular models
The post In the digital age, Chrono24 has been an Important tool to the modern Watch Collector appeared first on LUXUO.
The market for used or pre-owned watches is huge – some like European financial consultancy Kepler Cheuvreux put yearly estimates of the global secondary watch market at US$5 billion a year, which works out to be roughly 10% of the market for new watches of approximately US$45 billion a year. Others feel that the pre-owned watch market is close to double the conservative estimates at around 20% but what?s not in doubt is that at 5% annual growth rates, the pre-owned watch segment is growing at twice the speed of the market for new luxury timepieces. It?s a new growth segment that large conglomerates like Richemont Group are finally engaging through recent acquisitions of pre-owned watch resellers like Watchfinder. In fact, fuelled by factors such as the rise of e-commerce, changing consumer tastes and growing communities of watch fans, more pre-owned watch e-tailers are jumping on the bandwagon but through it all, watch connoisseurs could rely on one steadfast pioneer of the pre-owned watch market – Chrono24.
Business of Luxury: In Watch Commerce, Big Data has become an Important tool t...
The post In the digital age, Chrono24 has been an Important tool to the modern Watch Collector appeared first on LUXUO.
The market for used or pre-owned watches is huge – some like European financial consultancy Kepler Cheuvreux put yearly estimates of the global secondary watch market at US$5 billion a year, which works out to be roughly 10% of the market for new watches of approximately US$45 billion a year. Others feel that the pre-owned watch market is close to double the conservative estimates at around 20% but what?s not in doubt is that at 5% annual growth rates, the pre-owned watch segment is growing at twice the speed of the market for new luxury timepieces. It?s a new growth segment that large conglomerates like Richemont Group are finally engaging through recent acquisitions of pre-owned watch resellers like Watchfinder. In fact, fuelled by factors such as the rise of e-commerce, changing consumer tastes and growing communities of watch fans, more pre-owned watch e-tailers are jumping on the bandwagon but through it all, watch connoisseurs could rely on one steadfast pioneer of the pre-owned watch market – Chrono24.
Business of Luxury: In Watch Commerce, Big Data has become an Important tool t...
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