PROSPECTS AND OPPORTUNITIES
Aspirational purchases and strong brand awareness will boost the allure of international brands
International brands, particularly those in the affordable luxury segment, are well-positioned to benefit from the rise of the emerging middle class and the increasingly aspirational mindset of consumers. Brand awareness is high in South Africa, with shoppers clearly understanding each brand’s unique value proposition.
Second-hand luxury timepieces are set to remain popular over the forecast period
The demand for second-hand luxury timepieces is expected to rise over the forecast period, driven by more accessible pricing and a growing awareness surrounding sustainability and responsible consumerism. This shift will be particularly evident among younger consumers, who are increasingly open to purchasing pre-loved fashion and luxury items as a conscious lifestyle choice.
South Africa will remain an appealing market to launch and buy luxury brands
Across the forecast period, South Africa will continue to hold its position as a leading luxury market in Africa, particularly for high-end timepieces. South Africa is viewed as a premier shopping destination for affluent African consumers, many of whom travel for business or leisure and take advantage of the broader selection of luxury brands.
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Overview:
Understand the latest market trends and future growth opportunities for the Traditional and Connected Watches industry in South Africa 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 South Africa, 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 South Africa 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 South Africa?
- Which are the leading brands in Traditional and Connected Watches in South Africa?
- How significant is tourism in determining sales and demand for Traditional and Connected Watches in South Africa?
- How are COVID-19 and global recession impacting demand for Traditional and Connected Watches in South Africa?
- 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 South Africa - Category analysis
KEY DATA FINDINGS
A rise in accessible luxury drives growth for traditional and connected watches
Pre-loved luxury watches gain traction among South African consumers
Connected watches gains ground, aligning with the rising health and wellness trend
Aspirational purchases and strong brand awareness will boost the allure of international brands
Second-hand luxury timepieces are set to remain popular over the forecast period
South Africa will remain an appealing market to launch and buy luxury brands
Personal Accessories in South Africa - 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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