Traditional and connected watches in South Korea is characterised by polarisation, with high-end watches driving growth whilst basic models stagnate. Consumers increasingly adopt multi-watch ownership, using different timepieces for daily life, running, and business. Rolex and Cartier have maintained leadership through scarcity, with watches viewed as liquid assets. Apple Watch and Samsung lead through ecosystem integration, whilst Garmin and Suunto have a role as performance specialists. Premiu

The traditional and connected watches market in Singapore saw sales rise by 1% in 2025, with higher growth for connected watches, although traditional watches remains the dominant category. Growth is being driven by a mix of economic recovery, tourism flows, and consumer lifestyle shifts, with millennial and Gen Z consumers gravitating towards fashion-forward designs, artist collaborations, and tech-enabled models. The growing demand for luxury goods, supported by inbound travel from China and r

In 2025, traditional and connected watches in the United Arab Emirates was driven by the influx of high-spending tourists, residents and buyers from countries experiencing geopolitical or hyperinflationary pressures, such as Russia, Lebanon and Turkey. These items were purchased as a hedge against inflation or as an alternative investment. This was further supported by the increasing number of high-net-worth individuals (HNWIs). Traditional and connected watches remained attractive due to high a

Traditional and connected watches in Switzerland is characterised by a growing demand for luxury timepieces and connected watches with advanced features. The category saw growth of 2% in current value sales to CHF5 billion, driven by technological advances and changing consumer behaviours. Traditional watches dominates. To succeed, brands should focus on leveraging technological innovation, responding to consumer demands for sustainability and adapting to the growing demand for certified pre-own

Traditional and connected watches in Malaysia demonstrated significant growth of 8% in 2025, to achieve a retail value of MYR4.3 billion. Growth was driven by rising disposable incomes and increasing demand for premium and personalised products. The category is expected to continue growing, driven by technological advancements and increasing consumer demand, with retail sales forecast to reach MYR5.9 billion by 2030 at a CAGR of 7%. The growing number of high-net-worth individuals in Malaysia su

The traditional and connected watches market in Brazil exhibited significant growth in 2025, driven primarily by connected watches, which saw a retail volume of 2 million units after growth of 12%. The overall retail volume for traditional and connected watches reached 12 million units, with a growth rate of 0.4%. This growth was largely driven by rising demand for wellness features, convenience, and tech integration, particularly among Gen Z and Millennial consumers. The market is expected to c

The traditional and connected watches market in South Africa exhibited a mixed performance in 2025. The total retail value of ZAR12.2 billion was largely driven by connected watches, with growth fuelled by growing demand among Gen Z consumers for devices that blend functionality, style and digital connectivity. The category is forecast to continue growing, with rising demand for luxury timepieces and growing awareness of sustainability. Connected watches with advanced features, along with the g

The traditional and connected watches market in Italy demonstrated a mixed performance in 2025, with value sales increasing by just 1%. The market's stability was attributed to the continued interest in watches among Italian consumers, despite economic uncertainty. The growing number of high-net-worth individuals (HNWIs) in Italy, forecast to reach 202,700 by 2030, supports consistent demand for luxury traditional watches. Brands should focus on innovation, sustainability, and omnichannel sales

The jewellery category in China experienced healthy growth in 2025, driven by rising global gold prices and consumer preference for high-purity gold products as a safe-haven asset. This trend is expected to continue, with a forecast CAGR of 4% in retail sales at current value, reaching CNY1,100,243 million by 2030. The market is becoming increasingly polarised, with growth concentrated at opposite ends of the price spectrum, and offline department stores remain the leading retail channel. To suc

Traditional and connected watches in Indonesia is characterised by a stark polarisation between luxury and budget-conscious consumers. In 2025, connected watches was the most dynamic category with retail volume growth of 16%, outpacing traditional watches, which recorded a decline of 1%. The growing population of high-net-worth individuals – which reached 15,000 in 2025 – continued to drive demand for luxury watches. Meanwhile, affordable smartwatches from brands like Xiaomi are proving popular

India's traditional and connected watches market outperformed some regional markets in 2025, with retail volume growth of 3% and retail value growth of 10%. This growth was driven by favourable trade agreements, such as the Switzerland-India Trade and Economic Partnership Agreement, which reduced import tariffs on Swiss luxury watches, making them more affordable for India's growing affluent consumer segment. To succeed, brands should focus on premiumisation, technological advancements, and omni

Traditional and connected watches in Canada experienced further growth in 2025, driven primarily by connected watches with innovative features such as health monitoring. The market is characterised by a growing interest in second-hand luxury timepieces, which has negatively impacted sales of mid-priced watches. Retail offline remains dominant, accounting for 63% value share of distribution, but e-commerce is growing significantly, with a 37% value share. The competitive landscape is moderately c

The traditional and connected watches market in Japan is characterised by a mix of luxury appeal and modern technological functionality. Despite a slowdown in retail volume sales in 2025, the category saw steady growth in value terms, driven by continued unit price increases in traditional watches and a growing affluent consumer base. The resale and rental channels are gaining traction, particularly among inbound tourists who favour pre-owned luxury watches for their value and authenticity. As t

The traditional and connected watches market in Argentina exhibited a mixed performance in 2025, with overall growth of 0.7% in retail volume terms, driven primarily by the high-end segment and connected watches. Retail value grew by 59% in current terms, reaching ARS483.2 billion, largely due to the loyalty of high-end customers and the increasing demand for smartwatches. The market is characterised by polarisation, with high-end brands like Rolex and Omega performing well, while cheaper brands

Traditional and connected watches in Germany demonstrated dynamism in 2025, with retail current value growth of 11%, to reach EUR4,855 million, although volume growth was much lower, at 3%. This growth was driven by the continued demand for heritage watches, alongside the strong increase in the popularity of connected watches. The category is expected to remain attractive due to the forecast growth in demand for high mechanical watches and connected watches, with retail current value sales proje

Traditional and connected watches in Taiwan grew marginally in 2025, reaching TWD58.9 billion in current value terms. Price-led growth masked volume declines as economic uncertainty and shifting travel patterns weakened mid-range demand, while luxury sales held steady and connected watches gained traction on health and lifestyle trends. Looking ahead, innovation in connected models and the expansion of premium retail formats will underpin growth, supported by a rising base of high-net-worth cons

Traditional and connected watches in the Philippines is characterised by steady growth, driven by technological advancements and shifting consumer behaviour. In 2025, the retail volume reached 2.4 million units, representing 6% growth, while retail value sales stood at PHP26.5 billion with 9% growth. The market is attractive due to its growth potential, driven by increasing demand for luxury watches among affluent consumers and the rising popularity of connected watches. To succeed, brands shoul

France’s traditional and connected watches market is shaped by rising functional innovation, sustainability-led premium positioning, and enduring collectability dynamics. Advances in technology extend beyond timekeeping, while environmental considerations influence product development and brand strategies. At the same time, high-end models benefit from perceived long-term value, sustaining demand for premium offerings.

Traditional and connected watches in Spain experienced rising sales in both retail current value and volume terms in 2025 despite socioeconomic factors and local and international political uncertainty. The category remained attractive due to the growth of high-net-worth individuals (HNWIs), with this number expected to continue to rise over the forecast period. Technology is driving growth through hybrid watch designs and health-related features, and in the forecast period connected watches is

Traditional and connected watches in Australia exhibited a mixed performance in 2025, with 4%growth and a retail value of AUD2.7 billion, driven by luxury mechanical brands and connected smartwatch brands, with the latter benefiting from technological advancements and changing consumer preferences. The market is expected to remain attractive due to forecast growth in disposable income and a stabilising inflation rate, which had a 0.6 percentage point decline to 3% in 2025. Brands that incorporat

Traditional and connected watches in the UK experienced growth in 2025, with a 2% increase in retail volume and a 6% rise in retail value sales, driven by connected watches. The local market is attractive due to its potential for continued growth, driven by consumer demand for functionality, connectivity, and sustainability. The key trends include the growing importance of connected watches, the influence of Generation Z on product innovation, and the increasing significance of retail e-commerce

Traditional and connected watches in the US experienced a slowdown in value growth in 2025 due to tariff uncertainty and shifting consumer preferences. Despite this, the category is forecast to record a 3% current value CAGR to reach USD24.1 billion by 2030, driven by technological innovation and an increasing number of high-net-worth individuals. Continued innovation in health features is a key trend shaping the connected segment. Brands that adapt to these changes and focus on omnichannel reta

In traditional and connected watches, luxury brand sales have not been impacted by the economic downturn in Turkey. The waiting list for brands such as Audemars Piguet, Rolex and Patek Phililppe in Turkey remains around 1.5 years highlighting robust demand for such luxury brands. Consumer demand outperformed supply over the review period with highly affluent shoppers unaffected by the inflationary conditions. Overall, volume sales of traditional and connected watches remain well below pre-pandem

In 2024, sales of traditional and connected watches registered positive growth in the Netherlands, with retail value uplift of 9%. While Dutch consumers were more cautious regarding spending, the interest in fashion accessories continued to influence the growth in demand for watches, with retail volume growth being positive, at 4%. Manufacturers continued to invest in product innovation and advertising in 2024, especially products seen more often as a fashion statement.