Lufbery Watches recently put together an infographic that shows how Kickstarter has a huge impact on the watch industry! They collected their data from Kicktraq, a website that tracks past and present Kickstarter campaigns and provides statistics that for everyone to see.
Here are some highlights from Lufbery’s infographic:
“Between 2011 and 2016 watch brands on Kickstarter raised over $80 million.”
$86,986,170, to be exact. If the trend continues, there’s a good chance that funding for watch brands on Kickstarter will exceed $1 billion in 2017.
It all started with two successful watch campaigns raising $186,407 on Kickstarter in 2011. 202 watch campaigns raised $32,652,024 in 2016, just five years later!
September and October the most popular months for launching watch campaigns, with success rates above 50%. Campaigns in January have the highest success rate – 61%. December has the lowest success rate for watch campaigns, at only 42%.
$275 is the average amount spent on a Kickstarter-funded watch.
Knowing the average amount that backers usually spend on Kickstarter watches is useful for creators of future campaigns. For example, they can base their main reward tiers around that amount or alter it depending on whether they are going for luxury or affordability.
September and October the most popular months for launching watch campaigns, with success rates above 50%. Campaigns in January have the highest success rate, 61%. December has the lowest success rate for watch campaigns, at only 42%.
There have been 429+ successful watch campaigns on Kickstarter, and they’ve attracted over 236,349 backers.
Looking for a unique watch that won’t just tell time, but also make a statement? Or have added functionality? From self-illuminated dive watches to pocket watches or smartwatches, Kickstarter has it all.
Most watch campaigns on Kickstarter come from the U.S. and Canada.
Out of more than 400 watch campaigns on Kickstarter, 178 of them were U.S.-based. U.S. watch crowdfunding campaigns on Kickstarter have raised a combined total of over $51 million.
Canada comes second, with approximately 55 campaigns that have raised over $3 million. The data revealed that funding for watches on Kickstarter is common in some places and less so in others:
“12% of Kickstarter watch campaigns originate in California. More than the UK or Australia.”
Creators can use this information to find the best places to market their watches worldwide. Or, they could consider how many watch campaigns have been launched in their country and how many of them were successful.
Automatic and quartz are the most popular watch types, followed by mechanical and smartwatches.
The most popular watch movement type on Kickstarter is quartz, with 265+ campaigns launched. The second most common is automatic with 108+, followed by mechanical, smartwatch, and digital. Miyota and Ronda are the two watch movement manufacturers used by creators most.
The most successful watch campaign on Kickstarter to date is Pebble Time, a smartwatch that raised over $20 million in 2015.
The number of watch campaigns on Kickstarter is a great example of how crowdfunding is breathing life and creativity into stagnant industries and helping creators make great products that backers love.
