Sondage - Japanese consumers under the magnifying glass
Revue FH - 29 April 2010
The FH Centre in Japan has just published the results of its survey carried out among 1,500 Japanese watch consumers aged 20 and over with an interest in luxury watches. According to the information collected, 82.8% of those questioned own two or more watches, an increase on the 75.6% recorded at the time of the previous FH survey in 2008. The increase is more pronounced among men in their early thirties and fifties and also among women aged between 20 and 30.
As in 2008, the Japanese brands Seiko, Casio and Citizen are the first to be mentioned. However the popularity of Seiko watches has fallen in favour of Casio and Citizen timepieces. Next come Swatch, Omega, Rolex, Gucci, TAG Heuer, Cartier and Bulgari.
Questioned about the purchase price of the preferred watch among those that they own, 17.5% of Internet users indicated the 10,000 to 30,000 yen price category (approximately 115 to 345 Swiss francs). 12.8% opted for between 30,000 and 50,000 yen, 12.6% between 50,000 and 100,000 yen and 11.5% between 300,000 and 500,000 yen. Unsurprisingly, while the answers of young people aged between 20 and 30 favoured price categories between 10,000 and 50,000 yen, those of respondents aged 50 and over gave more prominence to the 50,000 to 150,000 yen categories.
More than half of respondents (52.5%) said they bought their watches from the watch department of a large store (46.3% in 2008), 42% from a specialist outlet (33.9%), 34.1% from a discount store - favoured in particular by men, of whom 43.6% choose this distribution channel -, 24.1% from a duty-free shop abroad and 19.7% online (multiple answers possible). Men were more inclined to buy online (24.8% in 2010 compared to 20.6% in 2008). It will also be noted that 20% of men and 17% of women aged over 50 bought their watches online.
The choice of distribution channels is made on the basis that they sell only authorised imports (57%), that they are less expensive than other types of outlet (53.7%), that they provide good after-sales service (44.3%) or that they offer a wide range of products (47.5%). 60% of respondents carry out research on products before buying a watch, with women however buying more on impulse. The type of research includes price, design and technical specifications (materials, water-resistance, etc). The Internet and manufacturers' official sites are a key source of information in this respect, as are display cabinets in shops and magazines.
When buying a new watch, the 10,000 to 100,000 yen price category was highlighted by 22.8% of respondents, compared to only 10.6% in 2008. 18.7% would however prefer a watch costing between 300,000 and 500,000 yen and 16.7% one that would cost 200,000 to 300,000 yen. Leading brands in terms of preferences are Rolex, Omega, Cartier and Bulgari, as in 2008.
Detailed results of this survey carried out in February 2010 are available in English and Japanese on the website of the FH Centre in Tokyo (www.fhs.jp).
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