What is Pre-owned luxury watches-?
A watch that was created later and has been owned by at least one individual is referred to as pre-owned. Pre-owned luxury timepieces are typically substantially less expensive than new timepieces. Pre-owned luxury timepieces are equally as popular, fashionable, and stylish as new timepieces. Some pre-owned luxury timepieces in the United Kingdom are more well-known or collectible than others.
The market study is broken down and major geographies with country level break-up.
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing towards the production technologies, efficiency enhancement and product life. There is various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies. Analysts at AMA Research estimates that Vendors from United States will contribute to the maximum growth of Global Pre-owned luxury watches- market throughout the predicted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Rolex (Switzerland), Omega (Switzerland), Cartier (France), Patek Philippe (Switzerland), Hublot (Switzerland), Rado (Switzerland), Pelton (United States), Kobold (United States), Shinola (United States) and Citizen (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Aspen (South Africa), Concord (United States) and Guess (United States).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Pre-owned luxury watches- market by Type, Application and Region.
On the basis of geography, the market of Pre-owned luxury watches- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Pre-owned luxury watches- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-user, the sub-segment i.e. Men will boost the Pre-owned luxury watches- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Connectivity, the sub-segment i.e. Bluetooth will boost the Pre-owned luxury watches- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Stainless Steel will boost the Pre-owned luxury watches- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Display, the sub-segment i.e. Analogue will boost the Pre-owned luxury watches- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
Luxury brands and retailers could acquire a platform or retailer and fold it into their organization. Acquisitions have the advantage of speed and centralization—a company can quickly gain access to critical capabilities for the second hand market while still retaining full control.
In 2021, Rado's launches new True Square Over The Abyss by Indian artist duo Thukral and Tagra plays on human connections in its midnight blue, high-tech ceramic, titanium with sapphire crystal body.
Market Trend
- Emergence of Second Luxury Goods on Online Platforms Coupled with the Diminishing Stigma of using Pre-owned Luxury Goods
Market Drivers
- Improving Consumer Living Standards Supported by their Increasing Disposable income Levels Enabled the Millennial
- Urbanized Population to opt for High-end Fashion Accessories at Lower Prices
Opportunities
- Minimizing the dependence on high-quality raw materials for manufacturing new products along with reducing waste production levels
Restraints
- Majority of Pre-owned Luxury Watches have Scratches or Dents, which may seem unattractive
Challenges
- Fluctuation in Supply and Demand of Watches owing to Pandemic
Key Target Audience
Pre-owned Luxury Watches Manufacturers, Pre-owned Luxury Watches Distributors and Suppliers, Venture Capitalists and Private Equity Firms, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.