Luxury Portable Consumer Electronics in Mexico

PROSPECTS

Makers of luxury timepieces bank on smartwatches

Luxury smartwatches are registering strong growth in Mexico thanks to good performances from wearables such as Michael Kors Access, Montblanc Summit and TAG Heuer Connected. Luxury timepiece manufacturers are banking on maintaining their positioning of exclusivity, while also providing consumers with connectivity functions such as call and message alerts and fitness apps.

Luxury wearable jewellery is left behind by smartwatches

One of the key features of wearable products is the capability to monitor one’s health. With increasing consumer health awareness, wearables are the perfect way to continuously track health conditions.

Luxury mobile phones remains a negligible category

Luxury mobile phones have not yet found a place among Mexico’s luxury consumers. Although mobile phones have registered significant growth in recent years in Mexico, the luxury element remains limited to high-end mainstream alternatives such as Apple’s iPhone or Samsung’s top-tier models, which tend to be expensive.

COMPETITIVE LANDSCAPE

Michael Kors maintains its leading position in luxury wearables

Launched at the end of 2016 as the first luxury wearable available in the country, Michael Kors Access remained the leading brand in 2017 despite the very strong entrance of its closest competitor, Emporio Armani Connected. Michael Kors Access is distributed through department stores and jewellery and watch specialists as well as internet retailers.

Football player Miguel Layún endorses Hublot’s Big Bang Referee in Mexico

To celebrate the 2018 FIFA World Cup, Hublot launched the Big Bang Referee wearable. Besides its traditional connectivity functions, the smartwatch offered the possibility to follow participating soccer teams by receiving related information, including reminders before their games started and notifications of goals and final scores.

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