Luxury market expectations in Australia

Watches with British & Commonwealth roots

Luxury market expectations in Australia

Postby koimaster » May 18th 2018, 8:14am

Understanding the Australian market for watches and luxuries is not just an easy matter of dialling up the statistical indicators.

In 1999/2000, reliable buyer performance was entangled with Australian taxation reform when a 10% retail Goods and Services Tax (GST) was introduced into Australia replacing a huge 33% wholesale sales tax. For many decades, anybody contemplating buying a serious watch would fly to Hong Kong to enjoy a very comfortable all expenses-paid holiday on the back of the tax saved by purchasing in the tax-free port.

Statistics concerning Australia’s participation in the luxuries markets was thus distorted by the deeply embedded culture of buying tax-free offshore.

Statistical evaluations

Over the last ten years Australia has suffered a slight contraction of global imports of all products of -5.95% but Australian imports of watches tell a quite different story. From all countries*, Australian wristwatch imports look like this:


https://www.europastar.com/time-busines ... ralia.html
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