![]() The growth rate assumed for our forecast is triple that of primary market, which we estimate will be 4%, consistent with the historical CAGR for the primary market from 2000 to 2019. ![]() We forecast the value of the secondary market to surpass the primary market by 2033. In fact, we expect the secondary market will triple in value by 2033 to about CHF79 billion, thanks to a compound annual grow rate (CAGR) of 12% over the next decade – and even then we see that as a conservative forecast.Īs a comparison, the secondary market grew by 40% in the first half of 2022 and 20% for the entire year. We estimate the business had a retail value of CHF52 billion in 2022, up 12% from CHF46.3 billion in 2021.īut we estimate that the secondary market grew even faster, rising 20% year-on-year to CHF25 billion. The Swiss watch industry and the handful of luxury watchmakers outside Switzerland achieved a record year in 2022. Fast growingĮven though the secondary market is about half the size of the primary market, it has been growing much faster. We have just published our first report on this segment of the watch market, where we detail not just the increasing economic importance of the secondary market in the value chain of the watch industry, but its major impact on the brand equity – for better or worse. ![]() Share Facebook Linkedin Twitter Weibo InstagramĪ strongly growing market ignored by most brands – at least until recently – the secondary market for luxury watches is now the hot topic, especially in light of the recent announcement by Rolex that it will be starting its own certified pre-owned programme. ![]()
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