PROSPECTS AND OPPORTUNITIES
Connected watches will lead expansion, driven by connected work culture and consumers investing in health
The market for traditional and connected watches in the Philippines is poised for continued expansion over the forecast period. Urbanisation will be a key growth driver, with more rural areas are developing into modernised communities.
Cross-collaborations will continue to gain traction
Moving forward, international watchmakers will continue to push the boundaries of design, combining traditional techniques with modern elements. Renowned brands such as Rolex, Patek Philippe, and Omega regularly introduce limited-edition pieces and innovative timepieces that captivate global audiences and set new trends and the Philippines will be no exception.
Shift to online sales, driven by e-commerce expansion and attractive incentives
Online sales of watches have experienced robust growth as major brands establish e-commerce stores, and platforms like Shopee, Lazada, and TikTok offer incentives for brands to move online. In 2024, this growth was boosted by the entry of new players like Temu and the aggressive expansion of Shein into accessories, including watches.
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Overview:
Understand the latest market trends and future growth opportunities for the Traditional and Connected Watches industry in Philippines 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 Philippines, 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 Philippines 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 Philippines?
- Which are the leading brands in Traditional and Connected Watches in Philippines?
- How significant is tourism in determining sales and demand for Traditional and Connected Watches in Philippines?
- How are COVID-19 and global recession impacting demand for Traditional and Connected Watches in Philippines?
- 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 the Philippines - Category analysis
KEY DATA FINDINGS
Minimalist watches endure as versatile choice
Connected watches continue to see rapid growth, driven by demand for multifunctionality and affordability
Luxury watches especially for men, see increased demand in casinos and high-end retail outlets
Connected watches will lead expansion, driven by connected work culture and consumers investing in health
Cross-collaborations will continue to gain traction
Shift to online sales, driven by e-commerce expansion and attractive incentives
Personal Accessories in the Philippines - 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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