Chinese consumer interest in luxury watch and jewellery brands has been growing significantly over recent years.
Image: WorldWatchReport™ Benchmark 2018
These figures emphasise the healthy state in which Swiss watch exports to China are in. According to the Federation of the Swiss Watch Industry, exports have experienced a growth of 44% over the course of one year – valued at 177 million Swiss francs.
“The destiny of the Swiss watch industry is now tied to Asia, and China specifically,” says David Sadigh, CEO and Founder of DLG (Digital Luxury Group). “Global watch brands that do not manage to generate desirability in China will find it hard to sustain their businesses in the long run,” he adds.
For the past 10 years, DLG has been publishing the WorldWatchReport™, the leading market intelligence study in the global luxury watch industry. Launched in 2017 and based on 120 million online visits across more than 20 markets, the WorldWatchReport™ Benchmark analyses the performance of luxury watch brand websites. It explores topics ranging from the role of a brand’s website, to the impact of social media on drive-to-store, as well as the importance of balancing owned and earned media. The study helps brands leverage their digital strategies to create a seamless customer journey that will result in measurable business results.
Key takeaways from the 2018 Benchmark:
China has, by far, the highest advertising exposure in the world. Poor quality traffic is consequently a major challenge.
In order to improve the quality of traffic to websites in China, luxury watch brands need to optimise their advertising investments and the experience proposed on their websites.
Brands should not think of WeChat merely as a social media platform, but as a full eco-system.