In honour of Women’s History Month, Chrono24 – the world’s largest specialist online marketplace for luxury watches – has chosen March 8, International Women’s Day, to presents a ground-breaking Insight Report offering a detailed examination of the female watch-buying market.
As a global online marketplace for luxury watches, Chrono24 stands as a premier destination for watch dealers, private sellers, and enthusiasts across 120 countries. The platform’s community tracks the value trajectories of over 3.7 million owned timepieces, contributing to a total Watch Collections value exceeding $49.7 billion, nearly 7% of the estimated $748 billion value of all watches worldwide.
The report not only celebrates a significant 25% female usership on the platform, but also serves as a testament to the positive shift occurring within the watch industry when it comes to gender equality and diversity.
The main aim of the document, according to a Chrono24 spokesperson is to amplify the voices of women enthusiasts while shedding light on key female leaders within the watch community.
Boasting a collection of over 560,000 watches from 35,000 professional retailers and private sellers, Chrono24 has facilitated over a million watch transactions since its launch in 2003. Female engagement on the marketplace has risen steadily and Chrono24 has taken advantage of this, leveraging its extensive reach of 9 million global users per month, to analyse data-backed trends.
Watch brands favoured by women
Delving into the data, Chrono24’s report unveils fascinating insights into brand preferences among female buyers compared to their male counterparts.
Chanel claims the top spot in brand strength, followed by Chopard, Cartier, and Bulgari. The report further emphasises the exceptional appeal of Cartier watches among women, with a market share more than triple that of male consumers.
Notably, Rolex stands as a universal leader on the platform, with nearly one in three watches purchased by women being a Rolex, representing more than half of the total spending.
The unisex conversion
Over the past five years, Chrono24 has observed a remarkable surge in the popularity of larger watches (40mm and above) among female customers, challenging traditional gender norms. Simultaneously, men are increasingly opting for smaller case sizes, reflecting a broader societal move towards gender-inclusive fashion.
Notably, 32% of female purchases on Chrono24 are for a 40mm watch or larger, signifying a significant 25% increase in women choosing watches with case diameters of 40mm and above.
American women lead this trend, with almost half the watches bought on Chrono24 weighing-in at over 40mm in size.
More than a movement
While quartz movements power half of the women’s watches on the platform, the report highlights a preference for automatic movements among female purchasers.
This sparks questions about product alignment with female consumer preferences, with Chrono24 revealing that 68% of Cartier watches purchased by women are equipped with quartz movements.
Interestingly, women in the United States show a higher inclination towards watches with automatic movements compared to other countries.
Aesthetic trends
Chrono24’s data sheds light on the material and aesthetic preferences of women watch enthusiasts. Contrary to the dominance of stainless steel in the 20th century, women are twice as likely to opt for watches encased in or embellished with precious metals.
Additionally, women show a greater openness to non-traditional, angular case shapes, suggesting a more adventurous approach to watch aesthetics.
… positive shift occurring within the watch industry when it comes to gender equality and diversity. Oh no! Here comes the WOKE agenda.