Luxury Timepieces

After seeing both retail volume and current value growth for several years, luxury timepieces turned to strong decline in volume terms in 2020, with a slightly slower current value decline due to price rises. In order to stop the spread of COVID-19 ...

Luxury goods was among the industries hardest hit by the Coronavirus (COVID-19) pandemic with sales damaged by temporary store closures, travel bans and weakened consumer spending. In addition, the pandemic also accelerated a channel shift to ...

Luxury timepieces has turned from seeing double-digit retail volume and current value growth rates for most of the review period to seeing double-digit declines in 2020. The arrival of COVID-19 in the country in the first quarter of the year led the ...

Luxury timepieces felt an especially negative effect from COVID-19 in 2020. First off, Malaysia’s lockdown from 18 March to 4 May required that all non-essential stores close their doors. As a result, jewellery and watch specialist retailers like ...

Luxury timepieces dropped into negative growth territory in 2020 as a result of COVID-19, although the impact was not as severe as duty-free shops. There was some negative factor during Q1. With the virus being controlled from Q2m and delayed ...

The onset of the COVID-19 pandemic in 2020 affected luxury timepieces negatively as Australia closed its borders and the country went into lockdown to slow the transmission of COVID-19 leading to the halting of tourism and closures of a large range ...

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 ...