WatchChoice.com Celebrates Its First Anniversary and Predicts an Improving Luxury Watch Market

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WatchChoice.com reaches its first anniversary in a tough luxury watch market but predicts that most luxury watch markets start to improve by the end of this year with stronger sales growth through 2010.

is building strong relationships with our dealer sponsors and looking forward to continually improving the experience based on feedback from users of the site

Having seen a gap in the then buoyant market for online http://www.watchchoice.com, Watch Choice created a website with the aim of bringing together the largest possible selection of new luxury watches as well as http://www.watchchoice.com/Used-Watches/ available.

By the time the site was launched however, the Global Financial Crisis had begun to take hold of the market for luxury watches. Announcements by almost every luxury brand of http://www.watchchoice.com/swiss-watches/ about export and sales drops of between 25 and 50% have now become common. And in response to reduced sales, most watch sellers have reduced their marketing budgets.

One of Watch Choice's dealer sponsors who sells online and also owns a bricks and mortar store commented that he "still has to replace the worn carpet in his store every 6 months but I have no sales to pay for it! We have the same amount of customers as before the GFC but no sales".    

Even in this challenging climate, Watch Choice has been able to attract dealers from the US, UK, Europe and Australia, and at the end of its first year, offers a selection of over 24,000 new and used luxury watches from more than 300 brands.

Glenn Palmer, owner of Watch Choice, is pleased with what the company has been able to achieve by its first anniversary, particularly as it was possibly the worst time in the last 20 years to enter the luxury watch market. Palmer says that he "is building strong relationships with our dealer sponsors and looking forward to continually improving the experience based on feedback from users of the site".

Palmer believes that "there are some recent indications that the decline in luxury watch sales in most major markets will start to flatten by the end of the year and may even slightly increase ahead of steady but sustained sales growth. It will be some time however before the market recovers to 2007/2008 levels.

Even after cutbacks and staff layoffs, the Swiss watch industry believes it remains well placed to respond to the luxury watch market as it recovers. The foundations of the Swiss watch manufacturing industry are intact and they have continued to release interesting and innovative new watches into the market to maintain the interest of watch enthusiasts.

Watch Choice believes it too is well placed to grow with the luxury watch market having already built a strong foundation of dealer sponsors and return visitors. Palmer is looking forward to a stronger watch market and an even stronger Watch Choice when it reaches its second anniversary.

To celebrate their first anniversary, Watch Choice is giving away three Wristwatch Annual packs to visitors who register free with Watch Choice.

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Glenn Palmer
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