Global Luxury Watch Market is projected to grow at a CAGR of 4% during the forecast period.
- The disposability and affordability of value watch brands make them a popular fashion choice among consumers, across the region. The lower priced and mid-priced watches are increasingly gaining market traction, due to an increasing demand for ‘value-for-product’ watches and accessories among women.
- The demand for digital watches is stronger among young consumers, as they are more aware of the mobile and smartphone technology. However, the lack of higher purchasing power of the young consumers has led to companies launching digital watches at affordable prices.
Key Market Trends
Offline Stores Remained the Most Preferred Point of Sale
The physical stores are likely to offer key advantages, especially for fast-moving consumer goods. In addition to in-store benefits, the absence of shipping fees, coupled with the implementation of sensory experiences, is expected to make the engagement between consumers and the products stronger. Consumers are more likely to be more observant and selective while investing in consumer goods like watches, as the products placed in the shelves can be tested and tried in terms of sample.
Europe Emerged as the Largest Consumer of Luxury Watches
The British watchmaking industry is growing rapidly, with more players providing attractive watches with stainless-steel case, scratch-resistant sapphire glass, quick-change strap system, and water resistance property. Companies, are repositioning their distribution network from relying on just stores to launching their own websites in order to provide consumers with the opportunity to purchase the products more conveniently, as well as to pick orders from the stores. The stores can also reserve the products for a short period of time, thereby, providing the customers with the comfort of in-store shopping.
The global alcohol wipes market is consolidated among major four to five players. The market studied has key players competing for major market share and intense competition prevailing in the market studied is likely to result in consolidation among market players. Key players are focusing on online distribution channels for branding of their products, in order to expand their geographical reach and increase their customer base.
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1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products and Services
4.3.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Analogue Watch
5.1.2 Digital Watch
5.2 By End-User
5.3 By Distribution Channel
5.3.1 Offline Retail Stores
5.3.2 Online Retail Stores
5.4 By Geography
5.4.1 North America
126.96.36.199 United States
188.8.131.52 Rest of North America
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 Rest of Asia-Pacific
5.4.4 South America
22.214.171.124 Rest of South America
5.4.5 Middle East & Africa
126.96.36.199 South Africa
188.8.131.52 Saudi Arabia
184.108.40.206 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Key Strategies Adopted
6.3 Market Share Analysis
6.4 Company Profiles
6.4.2 CHANEL International B.V.
6.4.4 Kering Group
6.4.5 ROLEX SA
6.4.7 Patek Philippe SA
6.4.8 The Swatch Group
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.