PROSPECTS AND OPPORTUNITIES
Re-commerce expected to hamper volume growth for traditional and connected watches
Over the forecast period, although solid retail current value growth rates are set to be maintained for traditional and connected watches in South Korea, retail volume sales are expected to see little movement, with just a slight decline anticipated over the forecast period as a whole. The second-hand market may pose a threat to volume sales of traditional and connected watches.
High watches set to outperform, but connected watches likely to suffer
Traditional watches is expected to see a strong performance in the forecast period, with both retail volume and current value growth anticipated. South Korea is expected to remain a key market for brand owners in traditional watches, as South Korean consumers are often willing to splurge on luxury items if their financial capacity allows.
Appliances and electronics specialists set to continue to lose share
Appliances and electronics specialists has long been the primary sales channel for connected watches in South Korea, but has been facing increased competition from retail e-commerce, losing value share throughout the review period, with this trend set to continue moving forward. The leading online retailer, Coupang, regularly holds Appliances/Digital Sales Weeks, during which it heavily promotes Galaxy Watches and Apple Watches.
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Overview:
Understand the latest market trends and future growth opportunities for the Traditional and Connected Watches industry in South Korea 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 Korea, 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 Korea 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 Korea?
- Which are the leading brands in Traditional and Connected Watches in South Korea?
- How significant is tourism in determining sales and demand for Traditional and Connected Watches in South Korea?
- How are COVID-19 and global recession impacting demand for Traditional and Connected Watches in South Korea?
- 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 Korea - Category analysis
KEY DATA FINDINGS
Within traditional watches, mechanical watches increase in popularity
Move towards cheaper brands and models within smart wearables
The wider range of luxury brands available impacts the share of leading brand Rolex
Re-commerce expected to hamper volume growth for traditional and connected watches
High watches set to outperform, but connected watches likely to suffer
Appliances and electronics specialists set to continue to lose share
Personal Accessories in South Korea - 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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