Boxing clever: New report shows the market for fancy watch packaging is set to boom
Luke Benedictus“Full set: box and papers.” If you’re buying a pre-owned watch, the inclusion of these extras that came with the original purchase will usually mean you have to pay more. The box and papers are a sign of the watch’s legitimacy. So when you buy a watch (new or second-hand), you make an effort to hang onto them to bolster the potential resale value should you one day opt to sell.
That benefit aside, I’ve always found watch boxes to be a bit of a pain, particularly back in the years when I lived in a small-ish apartment. They tend to be bulky and cumbersome so take up valuable storage room, plus I don’t find them very practical either. The real issue is that I never find myself actually using them after a purchase, preferring to store my watches on the soft pillows inside my watch box or in a travel pouch roll.
But this may be an increasingly unfashionable opinion because the watch packaging market is apparently enjoying serious growth. According to an industry report from Future Market Insights: “The market’s estimated value is expected to reach US$ 4,025.72 million by 2032, a significant increase from its current valuation of US$ 2,424.86 million in 2022.”
The report claims that millennials – the developing market that so many luxury brands are now keen to target – are driving this growing demand. To cater to their preferences, manufacturers are increasingly trying to make their watch packaging more innovative and creative. “High-quality packaging directly influences consumer purchasing decisions, leading to increased sales,” the report claims. “Suppliers and distributors play a crucial role in capturing consumer attention and influencing their buying choices.”
Presumably, the idea is that if you’re wavering over buying a watch, a fancy box could help to sweeten the deal and made an expensive purchase seem more alluring. And it’s certainly true that a lot of watch packaging is becoming increasingly creative these days as Zach points out in this article. These retail boxes may ultimately be consigned to some dusty corner of your wardrobe and provoke arguments with your wife who bemoans the space they take up. But if they help to get that initial boutique sale over the line, it’s a trend that’s only going to gather pace.