Luxury Timepieces

Luxury timepieces took the same severe double hit as much of the personal luxury segment in 2020, as the COVID-19 crisis led to a dramatic fall in inbound tourism and deterred local consumers from visiting physical stores or making discretionary ...

Sales of luxury timepieces were impacted heavily in 2020 as retailers were obliged to close their physical stores during the lockdown period. Luxury timepieces are typically bought in-store as customers wish to see and experience them before buying ...

Deep declines were recorded in sales of luxury timepieces during 2020 as the influence of the COVID-19 pandemic put substantial pressure on the category. One of the main factors behind the category’s performance during the year was the ...

Luxury timepieces are set to see the steepest drop in sales of personal luxury in 2020. Like experiential luxury, the category has been hit hard by the shutdown of travel as a result of the virus. The majority of sales of these products are typically...

Luxury timepieces is one of the hardest hit product areas in personal luxury in Sweden in 2020. Many traditional luxury watch brands heavily rely on store-based sales and have limited digital presence. Home seclusion, restrictions on travel and lower...

Luxury timepieces fared relatively well during the COVID-19 pandemic, with men’s luxury timepieces, for example, recording only a negligible retail value decline in 2020. Similar to luxury jewellery and leather goods, but possibly to an even greater ...

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

Luxury timepieces registered a strong decline in 2020, with the huge drop of international tourists – particularly from China – impacting sales. Traditionally, international tourists account for a significant chunk of purchases in Germany, and ...

Although younger generations of non-European upper middle class consumers are increasingly likely to purchase products in luxury timepieces in their own countries, Paris remained a key location for the purchase of luxury timepieces in the early ...

The outbreak of COVID-19 in 2020 meant that all stores selling non-essential items such as luxury timepieces had to close their doors for several months. These outlets are located in the main shopping malls in the country, which were shut between ...

Taiwan has been less drastically impacted by the COVID-19 pandemic due to the government’s quick response, meaning luxury timepieces will only see growth rates slow slightly and will overall continue to flourish. Timepieces are usually purchased for ...

The COVID-19 crisis negatively impacted sales of luxury timepieces in 2020. In cities such as Amsterdam, where specialists rely on 30-40% of sales from foreign tourists visiting from China, Russia or India, the sudden steep drop in demand for these ...

Sales of luxury timepieces fell sharply in Turkey in 2020 due to the impact of the COVID-19 pandemic, with men’s luxury timepieces particularly hard hit. Reduced consumer confidence led to a fall in spending on high-ticket items, while many of the ...

Luxury timepieces were seriously affected by COVID-19, with current retail values sales dropping by nearly a third. Men are the largest customer base and perceive timepieces as a status symbol, particularly in the business context. However, with ...

Following the outbreak of COVID-19 in Spain, the country closed its borders to tourists. Although the country gradually opened its doors again following the lifting of the national lockdown that lasted from March to May 2020, by the summer, Spanish ...

Luxury timepieces registered strong sales declines during 2020 as the COVID-19 pandemic placed significant pressure on demand for non-essential products. With the jobs and incomes of many Thai people under a cloud due to the negative impact of the ...

The travel restrictions put in place, reducing the number of international visitors to Singapore by the government in 2020 as part of its efforts to contain the outbreak of COVID-19 has severely impacted demand for luxury timepieces; a category ...

Of all luxury goods, luxury timepieces were the most impacted by COVID-19, with value sales declining by a half. Both men and women’s luxury timepieces were equally impacted. Retailers were closed for several months of the year and consumers opted to...

Many luxury consumers, unable to make international trips in 2020, spent on luxury products instead, helping to support local consumption. Local players estimate that in regular years, for each luxury watch sold in Brazil, 15 luxury watches are ...

Department stores and watch and jewellery specialists are the key channels for sales of luxury timepieces in Mexico, as shoppers for these products are keen to inspect and try on these devices prior to purchasing, whilst also receiving specialist ...