PROSPECTS AND OPPORTUNITIES
The repatriation of purchases of high watches
The culture of high watches has evolved in Mexico. The repatriation of consumption has become a significant factor in this price segment, whereby consumers who previously purchased high watches abroad now find them available in Mexico at similar or even lower prices, especially considering promotions such as interest-free monthly payments and bonuses.
From Asian- to US-focused watch collections
In terms of trends in consumption habits and consumer behaviour, it is noted that while there are not many new brands when it comes to basic brands, mid and high watches are seeing the introduction of new brands. This shift is due to growth in sales of these watches in the Americas, especially in Mexico, which is prompting some brands to establish their own presence instead of relying on external agents.
Retail e-commerce and digital marketing likely to be key growth drivers
Most sales of traditional and connected watches are still expected to be in offline stores such as jewellery and watch specialists and department stores in 2024, and this will continue in the forecast period. Nevertheless, the category has been influenced by the increasing popularity of e-commerce and digital marketing.
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Overview:
Understand the latest market trends and future growth opportunities for the Traditional and Connected Watches industry in Mexico 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 Mexico, 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 Mexico 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 Mexico?
- Which are the leading brands in Traditional and Connected Watches in Mexico?
- How significant is tourism in determining sales and demand for Traditional and Connected Watches in Mexico?
- How are COVID-19 and global recession impacting demand for Traditional and Connected Watches in Mexico?
- 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 Mexico - Category analysis
KEY DATA FINDINGS
Traditional watches leads the way
The decline of fashion brands in watches in Mexico
Swatch Group strengthens its leadership
The repatriation of purchases of high watches
From Asian- to US-focused watch collections
Retail e-commerce and digital marketing likely to be key growth drivers
Personal Accessories in Mexico - 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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