Revue FH - 24 February 2011
Carried out in the final quarter of 2010 and based on an Internet panel of 2,000 respondents aged at least 18 belonging to high socio-professional categories (the top 40% of the French population in terms of income), a survey by the French Institute of Public Opinion (IFOP) provides fascinating insight into the watch buying behaviour of the French.
Overall, the average number of watches owned is 2.5. While 10% of the panel do not own a watch and a third have only one, 59% stated that they own at least two, with 11% even having more than five watches. Level of income and gender only marginally affect this rate of ownership. However, there is a very clear link to age, with the number of watches increasing as the age of respondents goes up: 74% of those aged 65 and older have at least two watches, compared to 48% of 18 to 34 year olds and 54% of 35 to 49 year olds.
The average age of watches owned is 5.1 years, with 23% more than ten years old, 20% between five and ten years old, and 22% less than two years old. Watches bought by consumers for their own use account for 45% of the total, with 55% of respondents stating that they received their watch as a gift.
Price distribution – estimated for gifts – is as follows: less than 100 euros, 40%; from 100 to 300 euros, 32%; and more than 300 euros, 16%. 2.2% fall into the 1,000 to 2,000 euro bracket, with 1.4% priced between 2,000 and 4,000 euros and 1.0% in excess of 4,000 euros. 12% of those questioned were unaware of how much their watch cost. Secondhand watches account for only 4% of purchases, with 96% being received or bought new.
In terms of purchasing criteria, the watch's general visual appearance came out on top (42% of respondents made this their first choice, 69% either first, second or third), followed by price (14% as the main criterion but 63% cumulatively first, second or third). These aesthetic values and price were cited mainly by women and young people.
«Technical» features take a back seat and are more the domain of male respondents. The type of movement was a criterion among 20% of those questioned (ranked either first, second or third).
The criteria of legibility and simplicity of use increase in importance with the age of respondents, while water-resistance was the most important criterion for 2% of those questioned, albeit 12% cumulatively (1st /2nd/3rd criteria).
Important image characteristics at the time of purchase are much more fragmented: two aspects stand out however, one focused on length of time, the other on fashion, creativity and renewal. Brand value follows in fourth place only, an assessment that the IFOP suggests should be qualified with price levels. While differences exist between women and men, in the final analysis age is decisive.
The country of origin of the watch is down in tenth place (2% of first-placed answers and 7% either first, second or third), ahead of reliability of after-sales service (1% and 5%) and the ecological design of the product (1% and 4%).
In the survey carried out in January 1998 by the IFOP (sample of 2,138 people from the entire spectrum of households and therefore different to the 2010 base) the selection criteria for a watch (more than one answer possible) broke down as follows:
• 70.1% for the price of the watch, cited ahead of aesthetic criteria (visual appearance, style) with 62.6%; these figures are close to the 2010 results;
• 52.9 % for the quality of the watch and 48.9% for its solidity and robustness;
• 36.2 % for how easy it is to tell the time, a percentage virtually identical to 2010;
• 24.8 % for the simplicity of use of the watch.
However in 1998 the origin of the watch accounted for 14.3% of responses: the rise in power of brands over the past twenty years no doubt explains the decline in 2010 (7%). (Chambre française de l'horlogerie et des microtechniques)
