Never mind the economic slowdown – the Chinese are still passionate about watches, says new research.

Analysis of online searches for 65 international watch brands shows that every category of luxury watches from ‘prestige’ to ‘haute horlogerie’ has seen an increase in interest comparing the first half of this year to the same time last year, with a near 40 per cent increase in aggregate searches.

Digital Luxury Group said this shows that the demand for luxury watches in China remains strong despite the economic slowdown and uncertainty linked to the political changes.

“Interest continues to grow, but there are indicators that the purchase cycle has slowed,” indicates Florent Bondoux, head of strategy and intelligence at DLG.

In an immature market where awareness of smaller brands is yet to develop, the larger players dominate. Out of the 65 brands, the top 10 most-searched luxury watch brands which include Omega, Rolex, Longines, Cartier, Rado, Patek Philippe, Vacheron Constantin, IWC, Piaget and Chanel, represent nearly 80 per cent of the market. That compares to a mature market, France, where the top 10 represent 64 per cent.

“The three brands that have increased the most in search volume year-over-year are Rolex, Omega, and Cartier – which are also the brands that represent the biggest slice of search market share,” adds Bondoux.

The research also shows that Chinese consumers are becoming more educated and sophisticated. When looking at the way consumers (or would-be consumers) search for luxury watches, it is noted that for the first time this year style-related searches (such as ‘men’s watch’ or ‘classic style’) have surpassed price-related searches.

This is the result of several factors, from a more educated consumer who is now choosing between a brand’s different models, to gift-purchase related searches which tend to skew more generic.

“This more sophisticated and educated consumer marks an opportunity for brands to better localise to the needs and desires of the Chinese audience,” concludes Shanghai-based Pablo Mauron, DLG China’s GM.

GB