The spending habits of UK watch consumers have been revealed as the results of the biggest survey of its kind are released exclusively through WatchPro.
Last year Esquire launched The Big Watch Book in the UK for the first time and with it a comprehensive survey of its watch-buying readership, their existing watches, spending habits and potential future purchases.
The Big Watch Survey was launched in conjunction with Men’s Health and Harrods and offered one random respondent a £5,000 watch purchase at the luxury department store.
Duncan Chater, group publishing director at Hearst Magazines UK, said: “Commissioned on behalf of Hearst Magazines UK, The Big Watch Survey is the biggest research project in to the views and opinions of watch enthusiasts to date. Powered by Esquire and Men’s Health, this project is a natural progression from Esquire’s luxury watch magazine – The Big Watch Book launched last year, and Men’s Health, Synchronised, which is the highest circulating watch title.
“The 2015 online survey saw almost 14,000 respondents spend an average of 15 minutes sharing their watch buying habits, and those surveyed included Men’s Health and Esquire readers who also consume brands such as The Financial Times, QP Magazine, GQ and The Daily Telegraph. The results provide us with unique insights into the watch buying process, which we can share with our advertisers.”
With 13,882 respondents in total coming from both print and digital outlets of The Big Watch Book, Esquire and Hearst Magazines’ stablemate Men’s Health as well as The Financial Times, the survey offers a credible, authentic sample of the market’s spending habits.
With a median age of 38, the key age group was between the ages of 25 and 44 which accounted for more than 50% of respondents.
Eighty-six percent of those responding were employed with an average personal income of £43,342 and an average household income of £62,532.
Respondents’ watch collections were worth an average of £6,465 with an average of 3.8 watches owned and the most expensive watches in their collections averaging out at £3,341.