The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreApr 2016
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Operating conditions for watchmakers have never been more challenging. On one side, economic and currency volatility in key markets is hampering demand. On the other, a new generation of wearable electronics is ramping up competition. Formerly conservative watchmakers are rebooting strategies to etch out growth, while modernisers eye innovation as the way out of trouble. With many young people shunning traditional watches, the stakes are high. Can the industry survive and prosper?
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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.
Swiss-made watches are emblematic of the industry and a proxy of its health. Currency volatility, coupled with a loss of traction in formerly fast growing emerging markets, has triggered a marked slowdown in demand.
Once a lynchpin of growth, Hong Kong is forecast to be the industry’s weakest performing market to 2020. There is a regional power shift in Asia, as shoppers and retailers look for alternative growth hubs, most visibly in Japan.
Cautious spending by a once cash-flushed middle class in key markets such as China is opening up new opportunities for mid-priced brands to seize market share from higher priced rivals. The big fashion houses are also ramping up the competition among mid-priced brands.
Wearable electronics are booming and are set to be a major disruptive force in the watch battleground, especially amongst younger consumers. The trend is pushing growing numbers of traditional watchmakers into uncharted waters.
By 2020, global sales of wearable electronics are forecast to be higher than each of the mechanical, analogue and digital watch categories in value terms. The category is emerging as a pivotal battleground for mid-priced global brands.
Sales of watches through internet platforms are on course to double between 2015 and 2020, reaching some US$10 billion.
India is emerging as a powerful growth market for low price brands, with annual sales of basic watches on course to exceed US$1 billion by 2019.
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.