PROSPECTS AND OPPORTUNITIES
Mid watches to respond to polarisation and connected competition over forecast period
Traditional and connected watches is anticipated to register a 2% value CAGR (at constant 2024 prices) over the forecast period, with basic traditional watches set to experience rising price pressure, while premiumisation is likely to persist within high traditional watches. Polarisation will be a factor within traditional watches, but to a lesser extent than in other categories, given the previous disruption stemming from the advent of mobile/smartphones, as many consumers no longer need to wear a watch for time-telling purposes.
Specialists to adopt omnichannel strategies in face of DTC competition online
Over the early part of the review period, trends in distribution largely aligned with the demands of the pandemic and the resultant lockdowns. As a result, sales of traditional watches through retail e-commerce peaked in 2021, only to subside in favour of jewellery and watch specialists.
Sustainable efforts by major players see shift to carbon neutral manufacturing and supply chain initiatives
Both traditional and connected watches are on the brink of a major shift towards improved sustainability. Leading watchmakers are making deliberate efforts to reduce their environmental impact by incorporating eco-friendly materials in their production processes.
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Overview:
Understand the latest market trends and future growth opportunities for the Traditional and Connected Watches industry in Australia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Traditional and Connected Watches industry in Australia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Traditional and Connected Watches in Australia report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Traditional and Connected Watches in Australia?
- Which are the leading brands in Traditional and Connected Watches in Australia?
- How significant is tourism in determining sales and demand for Traditional and Connected Watches in Australia?
- How are COVID-19 and global recession impacting demand for Traditional and Connected Watches in Australia?
- In the wake of COVID-19, how soon can Traditional and Connected Watches be expected to recover? Where are the opportunities for growth now?
- Where is future growth expected to be most significant?
Traditional and Connected Watches in Australia - Category analysis
KEY DATA FINDINGS
Flat volumes for traditional watches as sales of connected models surge
Smart wearables facilitate and drive biohacking and other health and wellness trends
Leading players leverage consumer loyalty, extended store networks and premium sports sponsorship
Mid watches to respond to polarisation and connected competition over forecast period
Specialists to adopt omnichannel strategies in face of DTC competition online
Sustainable efforts by major players see shift to carbon neutral manufacturing and supply chain initiatives
Personal Accessories in Australia - Industry Overview
Personal accessories in 2024: The big picture
Influence of Generation Z and millennials shapes consumer behaviour
Innovative new product development, expanding engagement and corporate acquisition ensure dynamic competitive landscape
Retail developments focus on increasing vertical integration of specialists and building seamless omnichannel strategies
What next for personal accessories?
DISCLAIMER
The following categories and subcategories are included:
Traditional and Connected Watches
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- Basic Mechanical Watches
- Mid Mechanical Watches
- High Mechanical Watches
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- Basic Quartz Analogue Watches
- Mid Quartz Analogue Watches
- High Quartz Analogue Watches
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- Basic Quartz Digital Watches
- Mid Quartz Digital Watches
- High Quartz Digital Watches
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- Basic Quartz Analogue Watches
- Basic Quartz Digital Watches
- Basic Mechanical Watches
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- Mid Quartz Analogue Watches
- Mid Quartz Digital Watches
- Mid Mechanical Watches
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- High Quartz Analogue Watches
- High Quartz Digital Watches
- High Mechanical Watches
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- Basic Activity Watch (Analogue)
- Mid Activity Watch (Analogue)
- High Activity Watch (Analogue)
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- Basic Activity Watch (Digital)
- Mid Activity Watch (Digital)
- High Activity Watch (Digital)
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- Basic Smart Wearables
- Mid Smart Wearables
- High Smart Wearables
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Why buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Traditional and Connected Watches research and analysis database.
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