How AI and Machine Learning Is Removing the Time Consuming and Risky Process of Buying Luxury Watches
Watch Signals combines academia and emerging technologies to help consumers get smarter about the luxury watch market
As the experience economy gathers pace, experiences have become more important than the product itself. Despite living in a digital world, people are still spending heavily on analogue timepieces. Why? Buying your first luxury watch is an experience in itself that should be savoured and enjoyed.
It’s so much more than a device that enables users to read the time. When browsing hundreds of discontinued and vintage models, you quickly discover how many luxury watches bring personal connections, emotions, and many even come with their own story too. Very few products can match the enriching experience of wearing a piece of history on your wrist.
When buying luxury watches as an investment, frequent price fluctuations make it incredibly difficult for people to figure out what their actual value is. Watchsignal.com, the new platform from Zapevo Limited, is helping the global community find valuable information on their watches of interest and also instantly access the respective prices of any luxury watch throughout the world.
Watch Signals is on a mission to transform the industry and make it fit for a digital world where customer experiences (CX) have become a huge differentiator. The company is making it easier for everyone to find quality luxury watches without having to overpay for their precious timepieces.
Watch Signals is the first meta-search engine for luxury watches in the same way that booking.com is for hotels. A combination of introducing greater transparency and bringing customers and dealers closer together is helping to drive digital innovation in an analogue market.
“Artificial Intelligence and Machine Learning are transforming the way we do business but make no mistake, we have only seen the very beginning so far, and major disruptions can be expected to follow soon” – Ari Pham, Co-founder, CEO, WatchSignals.com
A price prediction model, driven by artificial intelligence and machine learning, helps customers to make informed purchasing decisions. Watch Signal’s instant access to historical prices across the globe can even detect seasonal price adjustments and enable users to optimize the time of their purchase.
This AI-driven metasearch engine analyses new and pre-owned luxury goods and identifies price trends among every watch that is listed on the platform. The team that makes this all possible consists of a diverse group of watch enthusiasts, programmers, data scientists, and UI/UX designers across six countries, including Switzerland, the home of most luxury watch brands.
Watchsignals.com currently collects and analyses data for over 205,287 watches in more than 60 countries. This platform has a powerful and easy to understand search and comparison engine and is designed to offer the best user experience possible. Watch enthusiasts input either the name/brand of the watch or model number to access all relevant information such as an actual global price comparison, historic prices, and future price predictions.
“It is important for luxury brands to embrace the market intelligence with the help of big data to better understand their future clientele” – Andreas Becker, co-founder, Director at WatchSignals.com
Economics Professor Brendan Cunningham also recently joined the advisory board. As well as over 20 years of experience in economics, Cunningham is also passionate about the luxury watch economics that is highlighted in his widely respected Horolonomics theory, “The Watch Safety Net.“
By leveraging emerging technologies and combining it with the best academic research, Watch Signals is helping everyone get smarter about watches.
About Zapevo Limited
Zapevo Limited is part of the Google Cloud for Startups program and is also part of the Segment Startup program. The company offers data-driven platforms for luxury goods (new & pre-owned) and services, empowering customers with an AI-driven valuation tool.
By leveraging technology, Zapevo enables customers to enjoy a high-value shopping experience, without overpaying for their goods. Unique features include value prediction models based on artificial intelligence and machine learning algorithms. Although Zapevo is initially focused on jewelry, watches, clothes, shoes, and bags, they are also planning on expanding into other luxury goods such as yachts, cars, and jets.
About Watch Signals
WatchSignals.com was launched in July this year, but further system enhancements such as new search engine algorithms and coverage of additional markets will follow soon.