Dr. Ito's In-Depth Analysis of Mechanical Watches! Vol. 48 - The Importance of Japan in the Swiss Watch Market

Good evening everyone!

This column talks about mechanical watches from an engineer's perspective. This is the 48th installment.

"What is the importance of Japan to the Swiss watch market?"

I will be talking about this topic here.

When talking about luxury Swiss watches, there is one country that cannot be avoided. Some people may find this surprising, but that country is Japan.

Many people may think, "America and China have larger sales now, don't they?" However, when you look inside the watch industry, Japan's presence has not diminished, and in fact is only getting stronger.

So, this time I would like to explain in an easy-to-understand way from the perspective of a watch lover, "Why is Japan so important in the luxury watch market?"

Japan is "one of the world's largest consumers of luxury watches"

In terms of population ratio, Japan is one of the world's top consumers of Swiss watches.

・The country has a small land area. ・The population is smaller than China and the United States. ・Still, it is always one of the top exporting countries.

This is unusual.

The reason is simple: the Japanese are a market that continues to buy watches. This is not a temporary fad, but a stable demand that has continued for decades.

Japanese people are "strict about quality"

In fact, this is the biggest reason why Swiss brands place importance on Japan.

・Case finish ・Dial printing ・Unevenness of luminous paint ・Accuracy ・Individual differences

Japanese users are said to be the most meticulous watch watchers in the world.

Moreover,

・Only complaining ・Haggling

Rather, I think that this attitude of "paying properly for good things" is very much appreciated from the Swiss perspective.

The secondary market is very large

When talking about the Japanese watch market, the existence of secondary distributors cannot be ignored.

If you walk around Ginza or Nakano,

・Models not available at authorized stores are in stock ・Rare models from all over the world are gathered ・Prices are always visible

This is a sight that is almost never seen overseas.

Japan's secondary distribution market is on a par with Hong Kong's

"A showcase of the world's watch prices"

It is believed that Swiss brands themselves are very conscious of secondary distribution prices in Japan.

The vintage market has high accuracy

Japan is also special when it comes to the vintage market.

・Good condition ・Meticulous parts management ・Accurate explanations ・High awareness of authenticity

It is well known that overseas customers believe that "Japanese watches are trustworthy," and at our store, Commit Ginza, we are seeing an increasing number of overseas customers visiting in search of high-quality vintage watches.

As a result, quality specimens from all over the world are coming to Japan, creating a virtuous cycle that further develops the market.

Why are there so many Japan-exclusive models?

Have you ever noticed that there are an unusually large number of "Japan Limited" watches?

There is a clear reason for this as well.

・Sales capabilities that can be completed only in Japan ・Understanding of colors, sizes, and usage ・Low tolerance for complaints (= high demands for perfection)

From the brand's perspective, Japan is the most "strict market for testing."

If something is well-received here, it will be accepted worldwide. This is why many brands use Japan as a testing ground.

Japan from a Swiss perspective: the ideal customer

Japan seen from the Swiss side

・They have detailed requests ・But returns are few ・They also provide proper repairs ・They use the product for a long time ・They buy a second or third one

In other words, they are the most troublesome and most ideal customers .

The Chinese market is certainly huge, but trends tend to change quickly and are highly speculative.

On the other hand, Japan

・Stability, continuity, and culture

These aspects are probably the reason why we are trusted and dependable.

summary

What did you think?

What makes Japan special is not just its sales. It has everything: a keen eye for watches, a deep market, a repair culture, secondary distribution, and an understanding of vintage items. This is why Japan is recognized in the Swiss watch market as a "complete watch culture sphere."

The Japanese market is also continuing to expand, so the day may soon come when Japan will become a country with more fine watches than any other country in the world.

We hope that this article has been useful to you and has sparked even a little interest in luxury watches! If you have any questions, please feel free to ask us directly and we will be happy to answer them. We look forward to your visit and inquiries.

Please look forward to the next one!