Luxury Watches Market Size, Industry Trends and Growth

Over the past few years, the luxury wear market has witnessed significant growth in demand, at a much faster rate compared to other segments. This was not just because of more demand for luxury wear overall, but also because of the growing number of watch collectors who have a passion for the watches they collect.

They look to these watches as an artistic expression of the wearer, their lifestyle and of course, their money, as well. With the growing demand for watches, the supply also became a bit tight, causing higher prices.

Watch Collectors, Aged 20+ and Men

Despite the growing number of watch collectors, the sales were not that good. It was difficult for retailers to convince them to part with their hard-earned money, especially in those tough economic times. There were many watch collectors who claimed that they would buy a watch but after seeing the pictures, they would just pass it by because it did not look as expensive as it was advertised.

This was discouraging to retailers and also to them, the idea of selling luxury wear online did not appeal to them. But this did not mean that it was a loss for them as they were still able to make a good income from the luxury wear market.

But then there was another group who were much more passionate about the watch than the others. It was these watch collectors who are the ones who really started the boom of the watch collectibles industry. They are the ones who started the demand for more than just watches.

These watch collectors would buy vintage articles of clothing for their own use. They would re-create it in their own way, with their own designs and colors and they are the ones who made the vintage trends and growth analysis. By looking at vintage trends, they were able to predict and foresee the success of the 'Vintage Wares' business.

Market Growth Rate

They even estimated the average prices of such items. The predictors also forecasted the growth rates of the market and how much profits should be earned for each vintage item. And then they also forecasted how much demand for vintage items would grow.

The only difference now is that these sellers are doing it online. The best that a lot of them are doing is exchanging their vintage magazines for eBooks. For a lot of sellers, these magazines simply became 'band aids'. As more and more retailers started selling online, the demand for vintage accessories also rose. With the rise of online vintage auctions, online vintage shops are also becoming a very hot item.

Nowadays, you can purchase all kinds of accessories for vintage items. It is even possible to buy a new era hat or even other styles of the hat for the same vintage item.

It is still very rare to actually find a new style of hat for the same vintage item. In fact, the trend is more like what we are calling 'retro-fitting'. Like, you can have a new vintage belt that fits in the waist or hips perfectly. The trend is still like this.

So, what is happening? What is happening is that vintage sellers are being subsidized by a new generation of vintage buyers. A generation that prefers to own classic items and wants to own them in a whole new way. A generation that also wants to own all kinds of hats that have been completely renovated.

These people are called 'retro-fit'. They buy vintage items more often, especially if they can get the products at discounted prices. And then they get them to put on their favorite way.

So, if you are a seller of vintage items online, it is very important to have a lot of retro-fit buyers. Otherwise, you won't be able to make your products sell. And then you won't be able to make your products attain maximum profits.

Back to blog