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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 advice around the most suitable straps, for example. However, these outlets were forced to close from the end of March to around July depending on the location, with some reopening at the end of June, while others had to wait until August.
Players tried to maintain a personalised and high-end shopping experience for their clients seeking luxury timepieces during the pandemic. There was a clear increase in the use of digital media, digital catalogues and online product information to facilitate the purchase process, either through e-commerce or by phone/WhatsApp.
Launch events for new collections are important strategies for players within luxury timepieces, and these occasions are often lavish and memorable events to which selected clients and media influencers are invited, often with the participation of celebrity endorsers. The COVID-19 pandemic, however, brought an end to these occasions in 2020, with players having to switch to digital launches.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Luxury Timepieces industry in Mexico with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Luxury Timepieces industry in Mexico, our research will save you time and money while empowering you to make informed, profitable decisions.
The Luxury Timepieces in Mexico market research report includes:
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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.