PROSPECTS AND OPPORTUNITIES
Retail volume declines for mid watches while consumers shift to smart wearables and high-end brands
The traditional watch market in Canada is forecasted to see marginal value growth across the forecast period, however, retail volume growth is set to decline. This trend is particularly pronounced in mid watches, while high watches will have stable retail volume sales, driven by high mechanical watches.
Polarisation is set to intensify as high-end brands expand their presence
Over the forecast period, the watch market is expected to become more polarised, with the middle price categories being squeezed by consumers either trading up to high-end watches or trading down to basic models. In addition, the continued growth of smartwatches such as the Apple Watch and Samsung Galaxy Watch, which offer value-added features like health monitoring and seamless connectivity, will further contribute to this market division.
Omnichannel strategies gain momentum across the forecast period
While there are no significant shifts expected in the retail channels for watches across the forecast period, e-commerce and omnichannel strategies will continue to play an important role in the overall retail landscape. Consumers are increasingly seeking a seamless brand experience, both online and in-store, and appreciate the convenience of features like in-store pickup for retail e-commerce orders.
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Overview:
Understand the latest market trends and future growth opportunities for the Traditional and Connected Watches industry in Canada 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 Canada, 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 Canada 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 Canada?
- Which are the leading brands in Traditional and Connected Watches in Canada?
- How significant is tourism in determining sales and demand for Traditional and Connected Watches in Canada?
- How are COVID-19 and global recession impacting demand for Traditional and Connected Watches in Canada?
- 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 Canada - Category analysis
KEY DATA FINDINGS
Traditional watches drive growth as brands offer exclusive products and limited edition designs
Smart wearables return to growth in 2024, fuelled by innovation
The market remains fragmented as brands expand and diversify their ranges
Retail volume declines for mid watches while consumers shift to smart wearables and high-end brands
Polarisation is set to intensify as high-end brands expand their presence
Omnichannel strategies gain momentum across the forecast period
Personal Accessories in Canada - Industry Overview
Personal accessories in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
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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