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Country Report

Luxury Timepieces in

Luxury Timepieces in South Africa

13 pages, Feb 2019

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!

PROSPECTS

Ongoing progress of second-hand luxury websites and auction sites

There is a growing appetite among locals for luxury brands, especially accessories such as jewellery and watches. For consumers who are unable to purchase new products, second-hand items are often the next best option.

Luxury timepieces appeal to aspirational consumers as status symbols

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

Wider consumer choice with the entry of new brands in South Africa

Entirely new brands have emerged in luxury timepieces and existing brands have widened their collections to include more models. This has resulted in a far wider choice for luxury consumers, who previously had to wait for their next international trip to purchase their favourite brands.

COMPETITIVE LANDSCAPE

International Timepiece & Fashion maintains its lead

Luxury timepieces is highly fragmented, consisting of monobrand stores and jewellery specialists also stocking luxury brands. Despite this, International Timepiece & Fashion holds the largest retail value share.

Growing popularity of second-hand watches

Although sales of second-hand items are not tracked by Euromonitor International, it has been observed that second-hand luxury timepieces are gaining prominence in South Africa, assisted by the proliferation of online stores selling luxury accessories such as handbags and watches, and are sold at a fraction of the price of new ones. Many online sellers are not based locally but serve as an intermediary between local buyers and international sellers.

Second-hand luxury timepieces stimulate higher brand recognition of luxury timepieces

Second-hand watches are both a threat and a blessing for luxury brands. On the one hand, as they are sold at relatively lower prices, they compete directly with entry-level and affordable luxury brands and models.

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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

HEADLINES

PROSPECTS

Ongoing progress of second-hand luxury websites and auction sites

Luxury timepieces appeal to aspirational consumers as status symbols

Wider consumer choice with the entry of new brands in South Africa

COMPETITIVE LANDSCAPE

International Timepiece & Fashion maintains its lead

Growing popularity of second-hand watches

Second-hand luxury timepieces stimulate higher brand recognition of luxury timepieces

CATEGORY DATA

Table 1 Sales of Luxury Timepieces by Category: Value 2013-2018
Table 2 Sales of Luxury Timepieces by Category: % Value Growth 2013-2018
Table 3 NBO Company Shares of Luxury Timepieces: % Value 2013-2017
Table 4 LBN Brand Shares of Luxury Timepieces: % Value 2014-2017
Table 5 Distribution of Luxury Timepieces by Format: % Value 2013-2018
Table 6 Forecast Sales of Luxury Timepieces by Category: Value 2018-2023
Table 7 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2018-2023

Luxury Goods in South Africa - Industry Overview

EXECUTIVE SUMMARY

Changing market due to macroeconomic conditions and evolving consumer base

Market experiences growth but ongoing decline in dynamism

Luxury goods market remains small in South Africa, with scope for further growth

Multibrand stores remain the main distribution channel

Positive prospects for changing luxury goods market

MARKET INDICATORS

Table 8 Number of High Net Worth Individuals (HNWI): 2013-2018

MARKET DATA

Table 9 Sales of Luxury Goods by Category: Value 2013-2018
Table 10 Sales of Luxury Goods by Category: % Value Growth 2013-2018
Table 11 Inbound Receipts for Luxury Goods by Country of Origin: Value 2013-2018
Table 12 NBO Company Shares of Luxury Goods: % Value 2013-2017
Table 13 LBN Brand Shares of Luxury Goods: % Value 2014-2017
Table 14 Distribution of Luxury Goods by Format and Category: % Value 2018
Table 15 Forecast Sales of Luxury Goods by Category: Value 2018-2023
Table 16 Forecast Sales of Luxury Goods by Category: % Value Growth 2018-2023

Megatrends

Country Report

Luxury Timepieces in South Africa

New Report Guarantee

Executive Summary

New Report Guarantee

PROSPECTS

Ongoing progress of second-hand luxury websites and auction sites

Luxury timepieces appeal to aspirational consumers as status symbols

Wider consumer choice with the entry of new brands in South Africa

COMPETITIVE LANDSCAPE

International Timepiece & Fashion maintains its lead

Growing popularity of second-hand watches

Second-hand luxury timepieces stimulate higher brand recognition of luxury timepieces

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

HEADLINES

PROSPECTS

Ongoing progress of second-hand luxury websites and auction sites

Luxury timepieces appeal to aspirational consumers as status symbols

Wider consumer choice with the entry of new brands in South Africa

COMPETITIVE LANDSCAPE

International Timepiece & Fashion maintains its lead

Growing popularity of second-hand watches

Second-hand luxury timepieces stimulate higher brand recognition of luxury timepieces

CATEGORY DATA

Luxury Goods in South Africa - Industry Overview

EXECUTIVE SUMMARY

Changing market due to macroeconomic conditions and evolving consumer base

Market experiences growth but ongoing decline in dynamism

Luxury goods market remains small in South Africa, with scope for further growth

Multibrand stores remain the main distribution channel

Positive prospects for changing luxury goods market

MARKET INDICATORS

MARKET DATA

SOURCES

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