Articles and News

Alpharetta, GA—According to a just-released survey by the American Affluence Research Center, luxury consumers consider Rolex to be the best fine watch, and the sixth-best brand among all products, in terms of quality. The survey, conducted biennially, polls the wealthiest 10% of U.S. households about spending, brand preferences, general economic outlook, and more.

First, some good news: following a drop in the economic outlook and spending plans among the affluent in AARC’s fall 2011 survey, the spring 2012 survey shows the affluent have returned to a much more positive outlook. The survey asked their perspectives both about current business conditions and about their 12-month outlook on business, the stock market, and their personal household income and net worth. In the Spring 2012 report, 57% of the affluent surveyed feel their financial security is the same or better than it was in pre-recession 2007, and 82% feel their net worth will be the same or better in 2013.

The survey also asked about various brands and products, including both overall and, specifically, for fine watches.

In an unaided recall question, “Considering any products or services you can think of, name two brands you believe represent the very highest quality, regardless of price,” Rolex was the only brand of jewelry or watches named to the general list. Apple was the top rated brand, followed by Lexus, Mercedes-Benz, BMW, Toyota, Rolex, and Honda. 

But for the question that asked, “For fine watches, please name the one brand that you believe offers the best quality (regardless of price), the best value (considering price), and the most prestige,” Rolex was the clear winner, cited by 39% of respondents. And for the question asking which brand offered the most prestige, Rolex was named by a whopping 70% of respondents.

In terms of quality, Tag-Heuer and Patek Philippe tied for second place, each with 7% of respondents citing it as the best watch brand. Omega took third place, with 6% of respondents citing it, and Cartier and Seiko tied for fourth place, each having been cited by 5% of respondents. 31% of respondents chose other brands. But when it came to value, affluent consumers acknowledge they’re paying extra for status: Rolex came in fifth place—and Timex came in first, with 24% of respondents praising it for value against the 5% who feel Rolex offers the best value.

In these excerpts from the American Affluence Research Center's findings, Rolex ranked top for quality and prestige, but fifth for value.

Said the AARC report, “Rolex was a clear winner as the fine watch brand for the two attributes of best quality regardless of price and most prestige. It is interesting to note that Rolex did much better on the prestige rating than it did on the quality and value ratings.” The report also said Rolex derives much of its prestige strength from males, those with income under $200K, and those with $1.5 to $5.9M net worth.

“There was relatively limited diversity in the naming of brands, as evidenced by the rather small percentage of responses categorized as ‘other’ for all three attributes. The “other” category, especially for best quality and most prestige, was relatively larger among the $6M+ net worth group, which has more knowledge of luxury brands.”

Separately, another question asked, “What one major retail chain, of any type (department store, home improvement center, appliance store, grocery store, drug store, hardware store, jewelry store, warehouse outlet, bookstore, clothing store, home furnishings store, etc.), do you believe offers the best combination of quality products, product selection, fair prices, and responsive service?”

Though “jewelry store” was suggested, the only luxury retailer that made the top 10 list was Nordstrom, which came in at number two. Other retailers named included a wide variety of categories, from department stores (Lord & Taylor and Macy’s) to warehouse clubs (Costco, ranked number one) to grocery stores (Trader Joe’s).