This report provides exclusive insights into the COVID-19 impact on the Luxury Watches Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Luxury Watches Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Luxury Watches Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on
luxury watches market provides in-depth analysis of segments and sub-segments
in the global as well as regional luxury watches market. The study also
highlights the impact of drivers, restraints, and macro indicators on the
global and regional luxury watches market over the short term as well as long
term. The report is a comprehensive presentation of trends, forecast and dollar
values of global luxury watches market. According to the report, the global
luxury watches market is projected to grow at a healthy CAGR over the forecast
period of 2019-2025.
Luxury watches are high-end watches that symbolize the
status or success of individuals. The attention to detail, costly parts,
craftsmanship, complex micromechanisms, precision in timekeeping and enticing
designs make luxury watches stand apart among other watches. Some of the luxury
watches are so complex that it requires months of craftsmanship and top quality
materials to manufacture those. Some of the luxury watches are limited edition
watches; hence the prestige and cost of those watches are high. Swiss made
luxury watches hold high value in terms of brand and customer preference
worldwide. Quartz watches have changed the luxury watches industry in a big way
as it utilizes an electric motor, easier to manufacture, need lesser parts, and
more precise than the conventional mechanical watches.
Excess inventory and sliding sales characterize the current
scenario of the market. The emerging fashion trends, rising per capita income
in various countries and expansion of online retailing are the major factors
that are anticipated to drive the growth of the luxury watches market. Blending
tradition with modern smart technology by some manufacturers is expected to
enhance the growth of luxury watches in the near future. New products with
smart technology introduced for women are expected to drive the growth of the
market during the forecast period. High-end smartwatches are anticipated to
become mainstream luxury watches in the near future. Moreover, women moving
away from smaller watches to bigger dialed watches, unisex watches, and
smartwatches are some other factors that are influencing the moderate growth.
On the contrary, the high cost of the watches and the presence of replica
watches are major factors restraining the growth of the luxury watches market.
Moreover, emerging markets luxury watches are expected to provide opportunities
for the luxury watches market during the upcoming years.
As per the geographies, Europe dominates the luxury watches
market followed by North America. The presence of major luxury watch
manufacturers in Switzerland drives the European Market. In the North America
region factor such as the introduction of smart technology with new products
drives the growth of the market. Further, Asia Pacific is a major growing
region for the luxury watches market due to the presence of China, the largest
manufacturing nation of luxury watches.
The report on global luxury watches market covers segments
such as type, gender, and distribution channel. On the basis of type, the
sub-markets include mechanical watch, automatic watch, diving watch, smart
watch, and other types. On the basis of gender, the sub-markets include men’s
luxury watches, and women’s luxury watches. On the basis of distribution
channel, the sub-markets include exclusive branded showrooms, departmental
stores, online retailing, and specialist retailers.
The report provides profiles of the companies in the market
such as Audemars Piguet Holding SA, Compagnie Financière Richemont SA, Citizen
Watch Co., Ltd., Dinh Van SAS, Dolce & Gabbana, Giorgio Armani S.p.A.,
Patek Philippe S.A., Movado, Richard Mille, The Swatch Group Ltd, and Other
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of luxury watches
market. Moreover, the study highlights current market trends and provides
forecast from 2019-2025. We also have highlighted future trends in the market
that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.