A Growing Market For Cheaper Watches Like Edox Watches

Over the past few years there has been a noticeable shift in the luxury watch market

, both here in the States and in the UK. Thanks to an economy that is on the decline, people are being more careful with their financial endeavors. However, that doesn't mean people are not in the market at all to buy watches. Quite the contrary. People are buying; they're just choosing to spend far less on a luxury watch. A superb luxury timepiece can cost thousands of dollars. And the best of the best costs as much as a car. A cheap car, but still $15,000 is a hefty price to pay for an accessory.

The amount of people who can afford to spend thousands of dollars on a watch is far less than the people who cannot. Watchmakers do not want to leave out these demographics out. So instead, we have seen a shift towards more affordable watches, watches around $1,000 and less. Now the market for this demographic is quite large, hence why it has grown so much over the past few years.

There are now watchmakers like Edox watches and Raymond Weil watches who are known for pricier items, but are now starting to cater towards consumers who want to spend less and still receive high quality. Coupled with online retailers offering amazing discounts, it's quite easy for more people to finally afford a true luxury watch brand. Some of these brands are even creating offshoots to cater to the market. For example, the two grandsons from Raymond Weil watches recently announced the launch of their own brand, 88 Rue du Rhone. The watches are aimed at young adults who cannot yet afford to spend thousands. Instead, the prices will range from $300-$1,000. Not only will they tap into a different market based on price, but their goal is to also create stylish, sporty watches for a younger generation.

But who's to say that age equates a certain amount of money? Just because you're 40 doesn't mean you can, or want, to spend $10,000 on a watch. With a brand such as Edox watches, men and women of all ages can feel comfortable with both the price and style of their watch selection.

The luxury timepiece market is a vast one. As long as people can still enjoy the same quality in craftsmanship as their more expensive brethren, for a fraction of the cost, consumers will buy into it. These watches priced under $1,000 are a market that has been tapped and will continue to grow into the future.

by: Mark Etinger

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