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 society gradually opening up, foot traffic in retail outlets is considerably higher.
Rolex retained its leadership position in 2020 and continued to gain further value share, supported by its presence in the W.Kruk chain.
While online value sales of luxury timepieces picked up during the pandemic, this was temporary and once retail outlets opened again, consumers again purchased luxury timepieces through brick-and-mortar outlets. However, there will still be value growth of luxury timepieces through online channels over the forecast period and online channels will increasingly play a role in purchase decisions.
Luxury timepieces will register moderate constant value growth over the forecast period. Luxury timepieces will not register as high value growth as many other luxury goods, as luxury timepieces are more popular with the older generation, with the younger generation more interested in luxury portable consumer electronics and so over the long term, the outlook is less than positive.
The popularity of portable consumer electronics represents a significant obstacle for luxury timepieces. In particular, smartwatches by major players like Apple appeal as more convenient products with extra functionality, while offering a modern and trendy look.
The Polish consumer in general is not very knowledgeable about luxury timepieces and only recognise the big brand names such as Rolex. Many prestigious brands are not well known in Poland, but as the range of luxury timepieces on offer increase over the forecast period, Polish consumers will become more discerning.
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Understand the latest market trends and future growth opportunities for the Luxury Timepieces industry in Poland with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This is the aggregation of luxury men's and women's luxury timepieces.
See All of Our DefinitionsThis report originates from Passport, our Luxury Timepieces research and analysis database.
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