While it has gradually established itself in the luxury sector, online sales have taken on a significant role since 2020 to compensate for the closure of shops. The watch-loving public in particular has embraced it, as shown by the figures recorded by the Chronext platform, which achieved a record turnover in 2020, estimated at over 100 million euros.
Chronext, a global platform for buying and selling luxury timepieces, ensures the authenticity of all these timepieces by certified watchmakers. It offers new, second-hand and vintage models for sale.
Since the beginning of the health crisis, the watchmaking world has had to find alternatives in order to continue selling these pieces. For example, in April 2020, Patek Philippe authorised for the first time the online sale of its timepieces by official retailers.
“This year clearly proves that the growth of the digital market for luxury watches continues unabated ! Even the impact of Covid-19 on the watch market could not stop this development. Therefore, we expect this trend to continue to develop in the coming years and demand to increase, especially for certified pre-owned watches (CPO),” said Philipp Man, CEO and co-founder of Chronext.
He adds : “Our customers particularly appreciate being able to try on the watch of their choice at any time at home or in one of our boutiques, without any obligation, without complications and free of charge. In this way, we combine the best of digital and traditional trade and thus shape the watch market.”
The watchmaking companies have understood this: it is now possible to seduce customers from a distance and convince them of the reliability of this type of acquisition. But of course nothing beats direct sales, in contact with the customer.
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