Global Luxury Watches Market

Global Luxury Watches Market- By Product Type (Mechanical, Quartz, and others), By Gender (Men’s watches and Women’s watches), By Distribution Channel (online, departmental stores, Exclusive branded showroom, and Specialist Retailers) and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)- Global forecast from 2020-2027.

Global Luxury Watches Market Overview:

Luxury watches are a luxurious accessory for adults, which are considered as a status symbol. Due to advance technology, pricing, design, texture, and quality, it is considered as a luxurious item. The significant attributes of luxury watches are its precision, elegance, and convenience, which purely provide an aesthetic look. Most of the time, luxury watches mainly wore due to its technical features and its precision to the millisecond. There are various luxury watches brand available in the market that helps in attracting the customers with its unique features and different market strategy to capture the more significant market segment.

The global Luxury Watches market projected to grow at a substantial CAGR in the future. The luxury watches segment is emerging due to increasing awareness of social media, television, online, and various offline channel. Moreover, growing e-boutiques trends towards online sales have shown the growing importance of the luxury watches market.

Additionally, an increase in digitization has increased the demand for automation, and luxury watches have infused automation technology in it, which shows unique features in watches that make it a smart luxury watch. Along with it, the brand ambassadors are promoting watches on television and bloggers promoting through ads or making videos on Instagram and Facebook that helps in increasing the demand for the luxury watches market.

Furthermore, a unique market strategy for targeting customers on different platforms has captured the attention of potential consumers. Also, to increase the market share, manufacturers are integrating luxury watches with smartwatches, and features like e-straps, Android/ IOS, classic watches with smart functions that are going to propel the growth of global luxury watches market in the forecast period.

Growth Driver

Increasing fashion trends

Luxury watches are considered as a status symbol and provide a professional and smart look to an adult. The demand for luxury watches has been rising with the increasing fashion trends, and they are often counted as a style statement. Due to digitization, various bloggers, vloggers, YouTubers, and other social media influencers are contributing to increasing the demand for luxury watches.

Increasing disposable income

With an increasing disposable income of the consumers have increased their spending power and hence shows substantial growth in the luxury watch market. Luxury accessories, mainly luxury watches, are referred to as a style statement and give an aesthetic appeal to the attire. Moreover, luxury watches market share has increased over some time due to urbanization; people have started working in the corporate sector. Thus, luxury watches add a professional and sophisticated look to the people who are working at the C level. Therefore, the luxury watches market will continue to improve in the forecast period from 2020-2027.

Product Segmental Analysis

Based on Product, the global luxury watches market classified into Mechanical, Quartz, and others. The mechanical watches segment projected to show growth in the forecast period from 2020-2027. Due to the increasing strength of high-end watches, respondents’ positive outlook towards mechanical watches and increasing demand for luxury watches and accessories have contributed to the market share of the global luxury watches market. Moreover, luxury watches brand has proactively developed strategies to address market trends, design different formula for consumer needs, and target younger consumers in the future to increase the sales of luxury watches.

Gender Segmental Analysis

Based on Gender, the global luxury watches market bifurcated into women’s luxury watches and men’s luxury watches. The women’s luxury watches segment had captured the larger market share. Owing to, emerging fashion trends and demand inclined towards luxury watches. Additionally, with increasing social media influencers, bloggers are creating videos based on fashion trends where they promote luxury accessories along with their dresses to provide a trendy and stylish look.

Nowadays, various YouTuber influencers make review videos of luxury accessories, which also influence the customer to buy luxury watches.

Distribution Channel Segmental Analysis

Based on Distribution Channel, the global luxury watches market classified into online, departmental store, exclusive branded showroom, and specialist retailers. The online segment is driving the highest growth of luxury watches in the global market. Due to increasing e-boutiques, various luxury brands selling luxury watches online with exclusive discounts and provide free home delivery and special offers during festive seasons. Hence increase the growth of the global luxury watches market.

Region Segmental Analysis

Based on geography, the global luxury watches market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The European region has dominated the luxury watches market. It is owing to rising technology, increasing disposable income, and growing demand for premium quality products. Additionally, the Asia Pacific is the second-largest market for luxury watches in the forecast period from 2020-2027.

Competitor Analysis

Companies such as Audemars Piguet, Cie Fianciere Richemont, Dolce & Gabbana, Citizen, Dinh Van, Hennessy Louis Vuitton SA, Giorgio Armani, LVMH Moet, Richard Mille, Movado, Rolex SA, Swatch Group Ltd., and others are prominent players in the global luxury watches market.

Key Stakeholders

  • Market research and consulting firms
  • Industry associations
  • Global Luxury Watches manufacturing companies
  • Research organizations and consulting companies
  • Organizations, associations, and alliances related to Luxury Watches
  • Regulatory bodies
  • Retailer
  • Suppliers

The objective of the Research

  • Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
  • Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
  • Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
  • Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
  • The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.

Market Modelling

By Product Type

  • Mechanical
  • Quartz
  • Others

By Gender

  • Women’s luxury watches
  • Men’s luxury watches

By Distribution Channel

  • Online
  • Departmental Store
  • Exclusive branded showroom
  • Specialist Retailers

 By Region

  • Europe
  • North America
  • Asia Pacific
  • South America
  • Middle East & Africa

Global Luxury watches Market

Report Content

  1. Research Strategic Development
    • Market Modelling
    • Product Analysis
    • Market Trend and Economic Factors Analysis
    • Market Segmental Analysis
    • Geographical Mapping
    • Country Wise Segregation
  2. Research Methodology
    • Identification of Target Market
    • Data Acquisition
    • Refining of Data/ Data Transformations
    • Data Validation through Primary Techniques
    • Exploratory Data Analysis
    • Graphical Techniques/Analysis
    • Quantitative Techniques/Analysis
    • Visual Result/Presentation
  3. Executive Summary
  4. Market Insights
    • Supply Chain Analysis
    • Economic Factor Analysis
      • Drivers
      • Trends
      • Opportunities
      • Challenges
    • Technological Landscape
    • Competitors & Product Analysis
    • Regulatory Framework
    • Company market share analysis, 2019
    • Porter’s Five forces analysis
    • New Investment Analysis
    • PESTEL Analysis
  5. Global Luxury watches Market Overview
    • Market Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • Consumption
        • By volume (Million Units)
      • Market Share & Forecast, 2016-2027
        • By Product Type
          • Mechanical
          • Quartz
          • Others
        • By Gender
          • Women’s luxury watches
          • Men’s luxury watches
        • By Distribution
          • Online
          • Departmental Store
          • Exclusive branded showroom
          • Specialist Retailers
        • By Region
          • Europe
          • North America
          • Asia Pacific
          • South America
          • Middle East & Africa
  1. Europe Luxury Watches Market Overview
    • Europe Luxury Watches Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • Consumption
        • By volume (Million units)
      • Europe Luxury Watches Market Share & Forecast, 2016-2027
        • By Product Type
          • Mechanical
          • Quartz
          • Others
        • By Gender
          • Women’s luxury watches
          • Men’s luxury watches
        • By Distribution
          • Online
          • Departmental Store
          • Exclusive branded showroom
          • Specialist Retailers
        • By Country
          • Germany
          • UK
          • France
          • Italy
          • Rest of Europe
        • Pricing-Point Analysis
        • Manufacturer & Distributor List (Top 5)
        • Company Market Share (Top 3-5)
        • Economic Impact Study on Europe Luxury watches Market
  1. North America Luxury watches Market Overview
    • North America Luxury watches Market Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • Consumption
        • By volume (Million units)
      • North America Luxury watches Market Share & Forecast, 2016-2027
        • By Product Type
          • Mechanical
          • Quartz
          • Others
        • By Gender
          • Women’s luxury watches
          • Men’s luxury watches
        • By Distribution
          • Online
          • Departmental Store
          • Exclusive branded showroom
          • Specialist Retailers
        • By Country
          • US
          • Canada
          • Mexico
        • Pricing-Point Analysis
        • Manufacturer & Distributor List (Top 5)
        • Company Market Share (Top 3-5)
        • Economic Impact Study on North America Luxury watches Market
  1. Asia Pacific Luxury watches Market Overview
    • Asia Pacific Luxury watches Market Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • Consumption
        • By volume (Million Units)
      • Asia Pacific Luxury watches Market Share & Forecast, 2016-2027
        • By Product Type
          • Mechanical
          • Quartz
          • Others
        • By Gender
          • Women’s luxury watches
          • Men’s luxury watches
        • By Distribution
          • Online
          • Departmental Store
          • Exclusive branded showroom
          • Specialist Retailers
        • By Country
          • China
          • India
          • Japan
          • Australia
          • Rest of Asia Pacific
        • Pricing-Point Analysis
        • Manufacturer & Distributor List (Top 5)
        • Company Market Share (Top 3-5)
        • Economic Impact Study on Asia Pacific Luxury watches Market
  1. South America Luxury Watches Market Overview
    • South America Luxury Watches Market Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • Consumption
        • By volume (Million Units)
      • South America Luxury watches Market Share & Forecast, 2016-2027
        • By Product Type
          • Mechanical
          • Quartz
          • Others
        • By Gender
          • Women’s luxury watches
          • Men’s luxury watches
        • By Distribution
          • Online
          • Departmental Store
          • Exclusive branded showroom
          • Specialist Retailers
        • By Country
          • Brazil
          • Argentina
          • Rest of South America
        • Pricing-Point Analysis
        • Manufacturer & Distributor List (Top 5)
        • Company Market Share (Top 3-5)
        • Economic Impact Study on South America Luxury watches Market
  1. Middle East & Africa Luxury Watches Market Overview
    • Middle East & Africa Luxury Watches Market Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • Consumption
        • By volume (Million units)
      • Middle East & Africa Luxury Watches Market Share & Forecast, 2016-2027
        • By Product Type
          • Mechanical
          • Quartz
          • Others
        • By Gender
          • Women’s luxury watches
          • Men’s luxury watches
        • By Distribution
          • Online
          • Departmental Store
          • Exclusive branded showroom
          • Specialist Retailers
        • By Country
          • Saudi Arabia
          • UAE
          • South Africa
          • Rest of Middle East & Africa
        • Company Market Share (Top 3-5)
        • Economic Impact Study on Middle East & Africa Luxury watches Market
  1. Competitor Analysis
    • Company Description
    • Financial Analysis
    • Key Products
    • Key Management Personnel
    • Contact Address
    • SWOT Analysis
    • Company Profile
      • Audemars Piguet
      • Cie Fianciere Richemont SA
      • Citizenx
      • Dinh Van
      • Dolce & Gabbana
      • Giorgio Armani
      • Hennessy Louis Vuitton SA
      • LVMH Moet
      • Movado
      • Richard Mille
      • Rolex SA
      • Swatch Group Ltd
      • Other Prominent Players

 

 

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