PROSPECTS AND OPPORTUNITIES
Investment and value will remain important for local consumers
The outlook for traditional and connected watches in the UK is extremely promising, with both retail volume and value sales predicted to record robust growth over the forecast period. However, this performance will be mainly driven by connected watches, as demand for traditional watches is set to further decline.
Specialist retailers aim to expand footprint
As with most categories, e-commerce has had an unavoidable impact on how consumers shop, but this is evident to a lesser extent within the distribution of traditional watches in the UK. As brands continue to prioritise quality and design-led development through material innovation, such as the use of sustainable carbonium alloy, further attention will be paid to expanding store footprint in the local market.
Discretionary spending and investment purchases
Despite positive growth prospects for traditional and connected watches in the UK over the forecast period, discretionary spending will continue to be impacted by inflationary pressures with a further focus among some consumers on limiting non-essential spending. Investment purchases will continue to be a cornerstone of traditional watches, with Swiss watches also expected to remain a driving force within the category as quality, durability and craftmanship remain a priority focus for some consumers.
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Overview:
Understand the latest market trends and future growth opportunities for the Traditional and Connected Watches industry in United Kingdom 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 United Kingdom, 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 United Kingdom 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 United Kingdom?
- Which are the leading brands in Traditional and Connected Watches in United Kingdom?
- How significant is tourism in determining sales and demand for Traditional and Connected Watches in United Kingdom?
- How are COVID-19 and global recession impacting demand for Traditional and Connected Watches in United Kingdom?
- 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 United Kingdom - Category analysis
KEY DATA FINDINGS
Culture of collaboration favours increasing focus on value
Fluctuating performances for category players
Second-hand market and women’s watches redefine strategies
Investment and value will remain important for local consumers
Specialist retailers aim to expand footprint
Discretionary spending and investment purchases
Personal Accessories in the United Kingdom - 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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