Pre-owned Luxury Watches Market
Pre-owned Luxury Watches Market - By Movement Type (Automatic, Manual, Quartz and Others) By Gender (Men, Women, Unisex) By Distribution Channel (Online Stores, Offline Stores) & Global Region - Market Size, Share, Trends and Forecast 2022-2027Request Sample Request Discount
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Growth Drivers & Barriers
Buying and owning pre-owned luxury watches is more of a common thing these days as consumers are hesitating to spend premium for watches. Also, there is also a very strong demand for vintage watches, scarce models, one-of-a-kind designs and watches with a special history. Stores that are offering pre-owned luxury watches are assuring their product’s authenticity and are offering these watches at great discounted price. Such cost benefits of purchasing pre-owned luxury watches are likely to boost the growth of this segment in upcoming years.
Advantages of second-hand luxury watch as compared to brand new luxury watch such as low price, easy sourcing such as buying from e-commerce websites are also believed to positively impact the growth of market. Various consumers prefer to buy products from online retailer of luxury goods owing to the convenience of shopping from home.
Across the globe, pre-owned luxury goods are becoming more acceptable among consumers. Previously, the secondary market was viewed as an unattractive niche. However, with the advent of pre-owned luxury goods e-retailers, the market image has boosted and is going mainstream. The second-hand market has always been aiding for consumers who could not afford primary luxury goods. Rising awareness about online stores and a booming number of startups are further increasing the consumer base which is anticipated to boost the growth of the market.
A growing number of companies entering the pre-owned luxury watch industry is anticipated to cater to the emerging need of consumers. In Middle East, United Arab Emirates, Dubai and other GCC countries are witnessing the augmenting demand for second-hand luxury watches. In past years, various new companies have started operation at a various level which further envisioned to boost the growth of the market.
Authenticity concerns among consumers is one of the major factors which is limiting the growth of the global pre-owned luxury watches market. Moreover, various incidences and complaints of receiving counterfeit goods is also limiting the growth of the market.
In terms of geography, the pre-owned luxury watches market is analyzed into North America, Latin America, Asia Pacific, Europe and Middle East & Africa. Among these regions, Europe is slated to account for the highest percentage of market share in the overall market during the forecast period. Europe pre-owned luxury watches market was held at USD 10,217.0 million in 2021 and is anticipated to reach USD 18,825.2 million by the end of 2024, registering a compound annual growth rate (CAGR) of 10.7% between 2022 and 2027.
The research offers a comprehensive analysis of pre-owned luxury watches market with respect to following sub-markets:
By Movement Type
By Distribution Channel
- Online Stores
- Offline Stores
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
The report profiles various major market players such as
- The RealReal, Inc.
- The Luxury Closet
- Vestiaire Collective
- Fashion Phile
- Style Tribute
- Collector square
- Chrono24 GmbH
- Other Prominent Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development expansion and other market activities.
The study also provides company’s positioning and market share in pre-owned luxury watches market.
Timeline Considered for Analysis:
- 2021: Base Year
- 2022: Estimated Year
- 2022 to 2027: Forecasted Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global market by the following segments:
- Movement Type
- Distribution Channels
Geographic Market Analysis:
The report offers separate analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, further breakdown of market data and analysis of region into countries is covered in the report.
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Pre-owned Luxury Watches Industry Report
• What is the overall market size in 2021? What will be the market growth during the forecast period i.e. 2022-2027?
• Which region would have high demand for product in the upcoming years?
• What are the factors driving the growth of the market?
• Which sub-market will make the most significant contribution to the market?
• What are the market opportunities for existing and entry-level players?
• What are various long-term and short-term strategies adopted by the market players?
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