The Watch Market's Post-Pandemic Hangover

The luxury watch market is feeling the pinch after a wild ride during the pandemic. Prices have dropped, and growth has slowed to a crawl. This shift is due to several factors, including changes in fashion trends and economic conditions. People are spending less on luxury items. The "quiet luxury" trend, which favors understated elegance over flashy displays, has impacted the market. High-end watches, once a hot commodity, are now struggling to maintain their value. The secondhand market has taken a hit too. Prices have dropped significantly from their pandemic highs. Even the biggest brands are feeling the squeeze. While a few top players like Rolex and Patek Philippe are still doing well, most others are struggling.Experts believe the market is near the bottom, but a full recovery is still far off. The pandemic boom was fueled by unique circumstances, like extra time on people's hands and booming crypto markets. Those days are likely gone for good. The market's peak was in 2022, and getting back to those prices will take decades. The focus has shifted from flashy, hyped-up models to classic, timeless pieces. Consumers are opting for safe, recognizable brands that hold their value. The pandemic-era buying spree was driven by ultra-wealthy investors looking to splurge. But with crypto markets crashing and the cost of living rising, people are tightening their belts. The market is now defined by refinement and conservatism, not excess.