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Country Report

Luxury Timepieces in

Luxury Timepieces in South Africa

Mar 2021

US$990

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Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

2020 IMPACT

Store closures, consumer concern and border closures lead to strong decline

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 in the country, the government implemented a hard lockdown.

Middle-income aspirational consumers rein in their spending

Luxury timepieces are a favourite status-driven accessory for aspirational consumers and wealthy shoppers alike. The nouveau riche invests in luxury watches to demonstrate their newly acquired success and social status.

Cie Financière Richemont maintains its lead with several strong brands

The comfortable sales leadership of Cie Financière Richemont in 2019 arises from the fact that it has distribution rights to strong brands such as IWC Schaffhausen, Vacheron Constantin and Jaeger-LeCoultre, amongst others. These brands are amongst the favourites of both South African and African consumers in general.

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Overview

Why buy this report?

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.

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Files are delivered directly into your account within a few minutes of purchase.

Overview

Discover the latest market trends and uncover sources of future market growth for the Luxury Timepieces industry in South Africa 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 South Africa, our research will save you time and money while empowering you to make informed, profitable decisions.

The Luxury Timepieces in South Africa market research report includes:

Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Luxury Timepieces in South Africa?
What are the major brands in South Africa?
How dynamic is the growth of Luxury Timepieces internet sales?
What is driving growth?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply function

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Luxury Timepieces in South Africa - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Store closures, consumer concern and border closures lead to strong decline

Middle-income aspirational consumers rein in their spending

Cie Financière Richemont maintains its lead with several strong brands

RECOVERY AND OPPORTUNITIES

Return to growth from 2022, but sales will remain low compared with 2019

Return of tourism likely to lead to a reversal of 2020 trends

A rising challenge from second-hand timepieces

CATEGORY DATA

Table 1 Sales of Luxury Timepieces by Category: Value 2015-2020
Table 2 Sales of Luxury Timepieces by Category: % Value Growth 2015-2020
Table 3 NBO Company Shares of Luxury Timepieces: % Value 2015-2019
Table 4 LBN Brand Shares of Luxury Timepieces: % Value 2016-2019
Table 5 Distribution of Luxury Timepieces by Format: % Value 2015-2020
Table 6 Forecast Sales of Luxury Timepieces by Category: Value 2020-2025
Table 7 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2020-2025

Luxury Goods in South Africa - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on luxury goods

COVID-19 country impact

Company response

Retailing shift

What next for luxury goods?

MARKET INDICATORS

Table 8 Number of High Net Worth Individuals (HNWI): 2015-2020

MARKET DATA

Table 9 Sales of Luxury Goods by Category: Value 2015-2020
Table 10 Sales of Luxury Goods by Category: % Value Growth 2015-2020
Table 11 Inbound Receipts for Luxury Goods by Country of Origin: Value 2015-2020
Table 12 NBO Company Shares of Luxury Goods: % Value 2015-2019
Table 13 LBN Brand Shares of Luxury Goods: % Value 2016-2019
Table 14 Distribution of Luxury Goods by Format and Category: % Value 2020
Table 15 Forecast Sales of Luxury Goods by Category: Value 2020-2025
Table 16 Forecast Sales of Luxury Goods by Category: % Value Growth 2020-2025

Megatrends

Country Report

Luxury Timepieces in South Africa

New Report Guarantee

Executive Summary

New Report Guarantee

2020 IMPACT

Store closures, consumer concern and border closures lead to strong decline

Middle-income aspirational consumers rein in their spending

Cie Financière Richemont maintains its lead with several strong brands

Overview

Why buy this report?

Samples (FAQs about samples):

Want to find out more about this report?

Table of Contents

Luxury Timepieces in South Africa - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Store closures, consumer concern and border closures lead to strong decline

Middle-income aspirational consumers rein in their spending

Cie Financière Richemont maintains its lead with several strong brands

RECOVERY AND OPPORTUNITIES

Return to growth from 2022, but sales will remain low compared with 2019

Return of tourism likely to lead to a reversal of 2020 trends

A rising challenge from second-hand timepieces

CATEGORY DATA

Luxury Goods in South Africa - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on luxury goods

COVID-19 country impact

Company response

Retailing shift

What next for luxury goods?

MARKET INDICATORS

MARKET DATA

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

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