TOPICS
In 2021, Japanese consumers seek "review of watch prices," "new products," and "stable supply and increased circulation" from luxury watches.

Rolex ranks first in the "favorite watch brand" rankings globally, in the US, and in Japan.
While Rolex secured the top spot, Omega followed in second place globally and in the US, whereas Patek Philippe and Audemars Piguet surpassed Omega in Japan.

Is there a difference in preferred watch models between Japan and the rest of the world? Globally and in the US, the "Rolex Submariner" is the top choice.
In Japan, the "Rolex Daytona" is the most popular.

About the Survey
Survey Period: December 10-31, 2020
Respondents: Chrono24 users. 21,995 globally, 3,417 in the US, and 272 in Japan.

In 2021, Japanese consumers seek "review of watch prices," "new products," and "stable supply and increased circulation" from luxury watches.
The most frequently cited expectation for luxury watches in 2021 was "review, stability, and reduction of watch prices," indicating a focus on pricing. This was followed by "new products and releases" and "stable supply and increased circulation." Responses also included a desire for "the continued value of analog watches" in light of recent smartwatch introductions, and a consideration for "environmental responsibility and ethical practices," reflecting a contemporary mindset for 2021.

What are your greatest expectations for luxury watches in 2021?
1. Review, stability, and reduction of watch prices (36.37%)
2. New products and releases (17.18%)
3. Stable supply and increased circulation (13.14%)
4. Watch downsizing (12.12%)
5. Return to classics, inheritance of tradition (7.7%)
6. Design appeal, attractive products (6.6%)
7. Stemming the decline in watch interest, continued value of watches, countering smartwatches (3.3%)
8. Environmental consideration, ethical practices (3.3%)

Always Watch for the Right Buying Opportunity! Watch Values Constantly Fluctuate
The survey results reveal that Japanese consumers desire "review, stability, and reduction of watch prices" for luxury watches. Chrono24's extensive database, boasting approximately 9 million monthly site visitors and 500,000 listed watches, shows that demand for luxury timepieces remains stable despite the impact of the COVID-19 pandemic on various industries. In fact, the value of certain models has even increased.

Indeed, the value of three popular models increased between February 17, 2020, and December 28, 2020, even amidst the COVID-19 pandemic, compared to their value on February 17, 2020. Some models also show a pattern of rapid value increase followed by a gradual stabilization.

Prices may fluctuate depending on factors such as the timing of new model releases. The market price of watches is in constant flux.

Chrono24 is the world's leading online marketplace for luxury watches. With approximately 500,000 watches listed, operated by over 3,000 dealers and more than 30,000 private sellers from over 100 countries, the site attracts around 9 million visitors monthly (as of December 2020). In 2020, Chrono24 achieved a transaction volume of approximately 2 billion euros.

As the world's largest platform, Chrono24 offers a comprehensive selection of watches, from new to vintage,
and aims to be the "Home" for all watch enthusiasts by enabling transactions in a trusted environment.

To ensure a secure trading environment for both buyers and sellers, our cross-border support team provides assistance in 16 languages, including Japanese, via email and phone.

Recommended Features of the Chrono24 App
New Arrivals and Price Drop Notifications
Receive notifications for newly listed items and price drops on watches you're tracking.

WATCH COLLECTION
Register your watch collection to track its current market value and any changes.

WATCH NEWS
Read the latest news and intriguing behind-the-scenes information from popular watch blogs directly within the app.

Additionally, the Chrono24 Magazine, launched in 2014, features detailed articles on watch technology, design, brands, and models, regularly contributed by the international Chrono24 team and freelance writers.
Chrono24 Magazine:
http://www.chrono24.jp/magazine/


You can download the Chrono24 app from the links below.

Company Profile
Company Name: Chrono24 GmbH
Headquarters: Karlsruhe, Germany
(Haid-und-Neu-Str. 18 D-76131 Karlsruhe Germany)
Offices: Berlin, New York, Hong Kong
Managing Directors: Holger Felgner, Tim Stracke


Chrono24 Website:https://www.chrono24.jp
Chrono24 Japan Official Facebook:https://www.facebook.com/chrono24.japan
Chrono24 Japan Official Instagram:https://www.instagram.com/chrono24.japan