Luxury Timepieces

Sales of luxury timepieces experienced a significant current value decline in 2020. The category was particularly badly affected by store closures under the state of emergency in April and May and border closures. Under normal circumstances, this…

With most Turks remaining inclined to rein in discretionary spending due to the economic fallout of COVID-19 and a spike in inflation fuelled by the sharp depreciation of the lira, luxury timepieces registered another contraction in volume terms in…

Luxury timepieces performed better in 2021 when compared with the previous year. Despite the enforced lockdowns around Germany at the beginning of the year, and then further restrictions on bricks-and-mortar retailing in an attempt to control the…

The first half of 2020 brought unprecedented difficulties imposed by the COVID-19 pandemic. Stores had to remain closed and consumers had to go through quarantine periods that made the industry project some of the rarest prospects for luxury:…

As restrictions have been eased, consumers have been allowed to return to non-essential brick-and-mortar stores, which has given them an opportunity to check out products in person before making a definitive purchasing decision. This is a strong…

Among other measures, stores selling non-essential goods were closed when the pandemic first emerged in South Africa, negatively impacting sales of luxury timepieces in 2020. Even when these stores reopened, they tend be high contact, and many…

The pandemic had a less dramatic effect on luxury timepieces in 2020, with current value sales falling, but not as steeply as for other luxury goods. In 2021, luxury timepieces are expected to register an increase in current value sales, as with…

After seeing a strong performance in 2020, luxury timepieces has continued to heat up in China post-COVID-19, especially during the first half of 2021, when exports of Swiss watches to China almost doubled compared with the same period of 2020. The…

Luxury timepieces was one of the categories that saw rising value sales during 2020, not experiencing the same negative impact as luxury jewellery or luxury writing instruments and stationery. Whilst the category initially suffered under the…

Although, as elsewhere, Taiwan has been impacted by the COVID-19 pandemic, luxury timepieces has continued to flourish, with growth rates in 2020 and 2021 only being slightly slower than in 2019. Timepieces are usually purchased for their decorative…

Luxury timepieces registered positive sales growth in Indonesia for much of the review period. This was based on the favourable economic situation in Indonesia and the country’s positive economic development in recent years. In particular, economic…

Luxury timepieces registered strong sales declines during 2020 as the COVID-19 pandemic placed significant pressure on demand for non-essential products. Pressure on jobs and disposable incomes due to the uncertainty created by the pandemic in 2020,…

Sales of luxury timepieces were impacted heavily in 2020 and at the start of 2021 as retailers were obliged to close their physical stores during the lockdown periods. Luxury timepieces are typically bought in-store as customers wish to see and…

Luxury timepieces have experienced a negative impact since the onset of COVID-19 in 2020. The closure of non-essential stores during the first lockdown between 18 March and 4 May 2020 meant jewellery and watch specialist retailers such as Watatime,…

There is a large consumer base in India, including millennials, which in the past has developed strong aspirational behaviour driven by rising disposable incomes. This resulted in a shift from mass fashion brands towards accessible luxury names.…

Luxury timepieces was hit particularly hard in 2020, falling into steep, double-digit, negative figure declines. Interestingly, more expensive watches suffered less than those in the mid-price luxury range, as the former is seen as a greater…

After seeing a strong current value decline in 2020, luxury timepieces saw a continued fall in sales in 2021, although the rate of decline slowed. The travel restrictions put in place in an effort to contain the outbreak of COVID-19 reduced the…

Luxury timepieces had been going through a period of stagnation prior to the outbreak of COVID-19, with the economic downturn that started in 2015 negatively impacting sales. Some consumers chose to postpone purchases, while others looked abroad to…

Timepieces were less negatively affected by the pandemic than other luxury goods in Ukraine. Time pieces registered a small decline in value sales in 2020, but with international travel disrupted, and therefore Ukrainians being unable to buy luxury…

Due to the COVID-19 pandemic, retailers of luxury timepieces in Australia were forced to rethink their traditional physical presence and respond to the consumer shift to online channels. For instance, Watches of Switzerland opened its first…