Wristwatch Consumer Awareness Survey (Summary)
2008
䇭Following on from its 2006 survey, the Federation of the Swiss Watch Industry FH has
carried out a questionnaire-based survey of Japanese consumers’ awareness, buying
patterns and so forth with regard to watches. Water Studio was commissioned to carry out
the survey, conducted via the internet, and the respondents taking part were men andwomen aged 20 and above who have an interest in luxury watches. The survey was carriedout on 18th January 2008, and 1,106 valid responses were obtained. The following analysis
is that carried out by Water Studio.
Survey area

The whole of Japan

Survey method

Internet survey

SampleMen and women (distributed evenly) aged 20 and above, with an interest inluxury watches.
䋨The sample was taken from those who answered the preliminary survey question“Are you interested in watches costing 100,000 yen or more?” with the response “Yes,I’m interested,” or “I’m quite interested.”)Survey date

Friday 18th January, 2008

No. of valid
responses

1,106

Preliminary Survey: Level of interest in watches costing 100,000 yen or more䇭(n = 3,937)

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Gender/age breakdown
Average age of the sample as a whole: 39.4; Men:40.3; Women: 38.6
Among the men, those in their 30’s had the highest level of interest. Among the women, it was those aged 40
to 44 who were most interested.

Regional breakdown2

Household annual income
Average of sample as a whole: 7.67 million yen; Men: 7.87million; Women: 7.47million
Averages by gender and age group - Men in their 20’s: 6.59 million yen; in their 30’s: 7.1 million; in their 40’s: 8.34 million;
men aged 50 and above: 9.38 million. Women in their 20’s: 6.71 million yen; in their 30’s: 6.39 million; in their 40’s: 8.46 million;
women aged 50 and above: 8.47 million. (All figures are deemed averages, having excluded the response “none/unknown”)

All

Men

Women

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Amount available for spending (monthly)
Average of the sample as a whole: 49,000 yen; Men: 55,700 yen; Women: 42,700 yen.
Averages by gender and age group - Men in their 20’s: 51,900 yen; in their 30’s: 49,500 yen; in their 40’s: 61,800 yen;
men aged 50 and above: 60,700 yen. Women in their 20’s: 44,000 yen; in their 30’s: 36,400 yen; in their 40’s: 46,200 yen;
women aged 50 and above: 46,000 yen. (All figures are deemed averages)

All

Men

Women

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Number of watches owned
The lines for both men and women in their 20’s and 30’s show major changes.
While the number of watches owned among men increases as they get older, among women, bycontrast, those in their 30’s and above tend not to increase the number they own as they get older.

AllMenWomen

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Brands of watch owned
Among the brands of watch that respondents actually own, the domestic brands Seiko, Casio and Citizen came top. One cansee clearly that fashionable brands are very popular among women.

All (n=1075)
Men (n=527)
Women (n=548)

䋨Figures given are percentages䋩

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The amount spent on watches that respondents own
Average of sample as a whole: 156,100 yen; Men: 163,400; Women: 148,900
Averages by gender and age group - Men in their 20’s: 155,700 yen; in their 30’s: 148,400 yen; in their 40’s: 179,800 yen;
men aged 50 and above: 169,000 yen. Women in their 20’s: 86,700 yen; in their 30’s: 133,400 yen; in their 40’s: 168,700 yen;
women aged 50 and above: 220,000 yen. (All figures are calculated from responses given by those who specified the amountthey had paid for their watch when answering the questionnaire).

AllMenWomen

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Where respondents buy their watches
Although department stores are the most popular place to buy watches, there is a difference in terms of the second mostpopular, as women cite specialist shops, while men prefer mass retail outlets.
20.6% of men buy their watches online, ranking fourth overall.
Although 12.5% of women buy their watches online, this considerably lags behind duty-free shops and shops abroad.

AllMenWomen

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Intention to buy a watch online
Among both men and women there is little change from age group to age group, with men overall having a lower level ofobjection to buying online.

Important points considered when choosing a shop
It’s clear that for women, it’s important that the shop stocks genuine (i.e. not fake) imported goods, whereas for men, priceis what matters.

9The type of watch that respondents likeThe results show a clear difference in the preferences of men and women, and the rankings are switched round. Women
like fashion watches and jewelry watches, whereas men have a preference for sports and multi-function watches.
Both men and women have a tendency to prefer fashion watches the younger their age group.

AllMenWomen10

Watch functions that respondents like
Half of the male respondents answered that they like divers (waterproof) watches.
Men are much more keen to have various functions on their watches.

AllMenWomen11

Respondents’ preference for type of watch movement (drive system)
Among both men and women, those in their 30’s were the age group that liked mechanical watches the most.

AllMenWomen

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The amount respondents are willing to pay for a watch they’d like
Average of the sample as a whole: 379,400 yen; Men: 429,700 yen; Women: 328,900 yen
Averages by gender and age group - Men in their 20’s: 413,800 yen; in their 30’s: 381,600 yen; in their 40’s: 531,200 yen;
men aged 50 and above: 384,900 yen. Women in their 20’s: 277,800 yen; in their 30’s: 363,300 yen; in their 40’s: 338,400 yen;
women aged 50 and above: 292,300 yen. (All figures are calculated from responses given by those who specified the cost ofpurchase when answering the questionnaire).

All

Men

Women

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The amount respondents are willing to pay for a watch they’d like, by movement preference
Average for sample as a whole: 379,400 yen; those who prefer hand-wound: 406,700 yen; those who preferself-winding: 434,500 yen; those who prefer quartz: 316,100 yen.
Looking at the figures for men only, overall: 429,700 yen; those who prefer hand-wound: 501,500 yen ; those who prefer selfwinding: 489,100 yen; those who prefer quartz: 339,700 yen. Among women only, overall: 328,900 yen; those who prefer handwound: 353,000 yen; those who prefer self-winding: 361,400 yen; those who prefer quartz: 296,400 yen. (All figures arecalculated from responses given by those who specified the cost of purchase when answering the questionnaire).
Note: “Mechanical” is an aggregate of those who gave the response “hand-wound” and those who responded with “self-winding”

AllMenWomen14Favorite brands
The rankings for men and women are completely switched around, with women showing strong support for fashion brands.

#NN P㧩/GP P㧩
9QOGP P㧩䋨Figures given are percentages䋩

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Types of media that are a factor when buying a watch
It’s clear that the overwhelming majority of both men and women make their decision when they visit the shop/store.
One can also see that magazine articles are much more effective than magazine advertisements. In fact, one in four people
say that magazines are a factor.
Information obtained online is important for men in their 30’s and 40’s.

Men

Men
20’s
30’s
40’s
50 and above(n=538)(n=91)(n=183)(n=148)(n=116)

Women
20’s
30’s
40’s
50 and above(n=568)(n=130)(n=174)(n=175)(n=89)

Women

䋨Figures given are percentages䋩

16Magazines that are a factor when making a purchase
The results for men show a mixture of fashion/lifestyle magazines, specialist watch magazines and product-specific magazines
In contrast, among women, fashion/lifestyle magazines are the only ones which make a showing.
There is a tendency for specialist watch magazines and product-specific magazines to be a factor among men.

MenWomen

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Magazines subscribed to, by watch movement preference (men)There is a strong tendency among those who choose mechanical watches, particularly hand-wound ones, to subscribe to
product-specific magazines and specialist watch magazines. Those who choose quartz watches don’t really subscribe to
product-specific and specialist watch magazines, and neither do they subscribe much to fashion magazines aimed at youngpeople.
Note: “Mechanical” is an aggregate of those who gave the response “hand-wound” and those who responded with “self-winding”

ALL
Hand-wound
Self-winding
QuartzMechanical(n=329)(n=28)(n=173)(n=128)(n=201)

䋨Figures given are percentages䋩

18Magazines subscribed to, by watch movement preference (women)
If one looks at the results for women only, product-specific magazines and specialist watch magazines don’t appear
in the upper rankings. Overall, those who choose mechanical watches subscribe more to magazines.
Note: “Mechanical” is an aggregate of those who gave the response “hand-wound” and those who responded with “self-winding”

ALL
Hand-wound
Self-winding
QuartzMechanical(n=410)(n=53)(n=183)(n=174)(n=236)

䋨Figures given are percentages䋩

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The amount spent on watches that respondents own, by region
The averages are as follows – Hokkaido & Tohoku: 73,700 yen; Kanto and Koshinetsu: 170,300 yen; Chubu &Hokuriku: 140,800 yen; Kansai: 157,800 yen; Chugoku & Kyushu: 159,700 yen.

The amount respondents are willing to pay for a watch they’d like, by region
The averages are as follows - Hokkaido & Tohoku: 218,400 yen; Kanto and Koshinetsu: 380,800 yen; Chubu &Hokuriku: 412,000 yen; Kansai: 395,100 yen; Chugoku & Kyushu: 399,000 yen.
Due to the low number of respondents in the Hokkaido & Tohoku regions, it would be best to consider the figure as aguideline only.

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The brands of watch that respondents own, by region
The large number of Rolex owners in Kansai is particularly noticeable. Owners of Tag Heuer watches are more
numerous in the Northern regions. Fashion brands are strong in the Kanto area, but this is thought to be due to the factthat it’s easy to buy them there, at manufacturer-direct retail stores and so forth.

ALL
Hokkaido & Tohoku
Kanto & Koshinetsu
Chubu & Hokuriku
Kansai
Chugoku, Shikoku & Kyushu(n=1075)(n=86)(n=487)(n=125)(n=235)(n=142)

䋨Figures given are percentages䋩

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Brands of watch that respondents want, by region
Leaving aside the sparsely-populated Hokkaido & Tohoku regions, there were no large differences in terms of regionaltendencies.

ALL
Hokkaido & Tohoku
Kanto & Koshinetsu
Chubu & Hokuriku
Kansai
Chugoku, Shikoku & Kyushu(n=1073)(n=89)(n=484)(n=127)(n=228)(n=145)

䋨Figures given are percentages䋩

22Summary by WATERSTUDIO
Respondents willing to spend up to 379,000 yen on theirnext watch
䇭In this survey, the overall average of household annual
income reached 7.67 million yen – a substantially high figure.
䇭Although Water Studio routinely carries out various kinds ofconsumer survey, household annual income is one
important indicator. If one uses data from average Japanese
consumers, average household annual income comes out
somewhere between 6 and 7 million yen. To have a figure inexcess of 7.5 million yen means that the group contains
many people with plenty of money to spare. The mere
condition that respondents be “interested in watches costing
100,000 yen or more” creates a group predominantly madeup of people who lead an affluent lifestyle.
䇭If one looks at the results in more detail, those in their 20’s
are already making over 6 million yen, while those in their
40’s have passed the 8 million yen mark. One could say thatthose who have an interest in luxury watches have a
comfortable lifestyle. The fact that respondents are willing tospend, on average, up to 379,000 yen on their next watch isby no means a result hastily scribbled down at random.
Two price ranges
䇭If one takes a closer look at the amount that respondents
are willing to spend on their next watch, there appear to be
two price ranges. One is that made up predominantly ofpeople thinking of buying a mechanical watch, and ranges
from 300,000 to 500,000 yen. The other price range is not
related at all to the type of watch movement, and is between
100,000 and 150,000 yen. Although the existence of thelatter is clear from the preliminary survey question, one cansay there is unmistakably a demand for watches in the300,000 to 500,000 yen price bracket. What is more, there
are definitely people who consider buying items that arehighly priced. When one comes to consider the Japanesemarket, products in this high price range are important.
䇭Let us now make a comparison with the online survey
carried out two years ago by the Federation of the Swiss
Watch Industry FH. The proportion of respondents who said
they were willing to spend 300,000 yen or above was 14.2%.
In this survey, that figure has risen to 48.1%. Since the samequestions were asked in the preliminary survey, one ought tobe able to trust this figure. The value of watches haschanged a great deal over the last two years. Magazine
advertisements and the activities of specialist magazines arevery much linked to this change.
䇭Furthermore, in the same survey from 2006, whereas 1.2%of respondents answered that they were willing to spend 1
million yen or above, in this 2008 survey the figure is 10.0%.
Therefore, it seems fair to say that the situation has
undergone a transformation.
The 30-40 age group next watch
䇭We’d like you to recall that the lines on the graph showing
the number of watches owned by those in their 20’s and 30’s
were completely different. People aged around 30 are
presumably buying a new watch for themselves. At this point
in life, a budget of between 300,000 and 500,000 yen is theupper limit for both men and women. They want to have awatch that they can call their own. If they’re unable to buy
such a watch at that price once they reach 30, they willprobably take that a little badly.
䇭Similar responses appear in our own independent surveys
that we carry out. Those currently in their 30’s, andparticularly men, are buying mechanical watches, and thistrend is becoming more pronounced. Moreover, if one doessome research into the watches that are being bought, thepredominant price range is precisely the one from 300,000 to500,000 yen. When considering the current Japanese watch

market, this is the price bracket that must be thought of foracquiring one’s first mechanical watch. If there are noproducts in this price bracket, major growth in the Japanesemarket will probably be difficult to achieve. Just for the record,
although those in their 40’s waver between foreign brands
and domestic ones, since those aged 50 and above trust
Japanese-made watches, it is probably inadvisable forforeign brands to consider this age bracket.
Buying online?
䇭Although they are still only a minority, it is clear that buying
watches online is becoming increasingly established,especially for the young generation.
䇭In this survey, we asked respondents whereabouts theybought their watches, and in what kind of shop. Of course,
although not everyone patiently answered our questions tothat level of detail, there were many who did.
䇭Something became clear from the way respondents gave
those answers, and that was that although in principle,
trustworthy shops in one’s local area were considered as themain choice, the greater the selection of products that a shop
had, the more popular it was. For the Tohoku region, thatmeant Sendai, or better still, Tokyo. In Kinki and Chugoku, it
was Osaka, while Hakata was the choice in Kyushu. The
response that stood out from those we got from Okinawa
was the one which conspicuously mentioned Shinjuku.
䇭Respondents want to choose from a very wide selection.
They want to examine them closely and then make theirchoice. This is a feeling that’s easily understood. Rather thanlooking in one’s local shop, do research online and inmagazines, and then decide “this is the one.” That may be
the best policy in the present situation. Leaving aside
residents of large city, nowadays, buying online may give
you a wider selection to choose from. With watches, it’s
possible to check them out thoroughly before buying, andthis is something that many people actually do.
Increasing diversity of tastes
䇭Let us make a few more comparisons with the 2006 survey.
First of all, the figures for the respondents’ favorite brands.
Although the upper rankings have barely changed, if one
looks at the figures there is a feeling that something ishappening.
䇭To begin with, looking at the data of 2 years ago, those whosaid they wanted a Rolex came top, at 40.4%. In this survey,
that is now 33.3%. The figure for Seiko 2 years ago was
22.1%, whereas now it’s 19.3%. Naturally, there are areas inwhich the major watch companies are expanding their sales,
but overall they are falling. In contrast, respondents not only
mentioned brands they wanted which had never before
appeared in previous surveys with the sample size being
roughly 1,000, but these brands even showed up as ones
that respondents own.
Just as an example, 1,106 people that we found for thissurvey included 12 owners of Breitling watches, 4 were
Panerai owners, and 1 had a Vacheron Constantin watch.
It’s not that we set out to look for those people when doing
the survey. The fact that such people get included in theresults reflects the state of contemporary Japan. Diversity
continues apace, and tastes are becoming segmentalized.
Furthermore, the increasing speed of information distribution
is furthering this trend.
Profile : WATERSTUDIO
Uses the “emotional program” marketing method. Making fulluse of consumer surveys “Brand Data Bank” with its sample
of 30,000 persons, in conjunction with its own uniquemethods, it carries out a range of operations, ranging frommarket research to product development.
23䇭This document is just a summary; more detailed materials such as mentioned below havealso been prepared. If you have a request, please contact the Federation of the Swiss Watch
Industry FH Tokyo Center.
䇭In some cases costs are incurred in producing these, and for this reason we sometimes haveto make a charge for materials. We appreciate your understanding on this point.
Brands of watches owned (a list which even includes brands owned by just one person, out of a total of 1,106 respondents)
A survey concerning watch repair
A survey concerning the materials (the case, strap, finish etc) from which watches are madeDomestic data by region
Data on magazines purchased
Data on the names of shops where purchases are/were madeFederation of the Swiss Watch Industry FH Tokyo Center
Miyama Bldg. 3F 6-15-5 Soto-Kanda
Chiyoda-ku, Tokyo 101-0021 JAPANTel 03-3833-0740 Fax 03-3833-0748
info@fhs.jp

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