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Country Report

Luxury Timepieces in

Luxury Timepieces in South Korea

18 pages, Feb 2018

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

Consumer-driven trends noticeable in luxury timepieces

The desire to own luxury timepieces is growing, especially among young consumers who wish to own a luxury brand. In order to differentiate themselves from others, high-end brands or products with unique designs are preferred.

Female consumers start to show an interest

Whilst the main audience for luxury timepieces remains male consumers, many luxury brands are introducing more fashionable and casual designs, attracting female consumers to show more interest in purchasing luxury timepieces. Previously, metal straps on more formal-looking products were the most popular products.

Luxury timepieces continue to be purchased by inbound tourists

Luxury timepieces is highly dependent on Chinese tourists, although the recent political tension between China and South Korea negatively affected inbound numbers in 2017. The deployment of THAAD (Terminal High Altitude Area Defence system), a US missile defence platform, on South Korean soil is an ongoing controversy between the two countries.

COMPETITIVE LANDSCAPE

Timepiece specialist brands perform well

Companies offering timepieces as their main focus perform well as consumers continue to seek more premium brands. Timepieces specialist brands such as Rolex, Omega and IWC, and luxury goods manufacturers which specialise in multiple categories such as Hermès, Bvlgari and Gucci are enjoying a strong presence.

Brands aiming for luxury-casual thrive

Luxury timepieces has its limitations in the domestic market due to duty-free outlets and its great reliance on tourists. However, brands are investing in expanding the potential of the domestic market.

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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 Korea 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 Korea, our research will save you time and money while empowering you to make informed, profitable decisions.

The Luxury Timepieces in South Korea 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 Korea?
What are the major brands in South Korea?
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 Korea - Category analysis

HEADLINES

PROSPECTS

Consumer-driven trends noticeable in luxury timepieces

Female consumers start to show an interest

Luxury timepieces continue to be purchased by inbound tourists

COMPETITIVE LANDSCAPE

Timepiece specialist brands perform well

Brands aiming for luxury-casual thrive

CATEGORY DATA

Table 1 Sales of Luxury Timepieces by Category: Value 2012-2017
Table 2 Sales of Luxury Timepieces by Category: % Value Growth 2012-2017
Table 3 NBO Company Shares of Luxury Timepieces: % Value 2012-2016
Table 4 LBN Brand Shares of Luxury Timepieces: % Value 2013-2016
Table 5 Distribution of Luxury Timepieces by Format: % Value 2012-2017
Table 6 Forecast Sales of Luxury Timepieces by Category: Value 2017-2022
Table 7 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2017-2022

Luxury Goods in South Korea - Industry Overview

EXECUTIVE SUMMARY

Luxury goods records growth, attracting further interest from manufacturers

Expanding consumer base drives growth of luxury goods

Luxury car manufacturers dominate luxury goods

Mixed retailers remains the main retailing channel in luxury goods, while internet retailing is developing

Potential for growth of luxury goods in the forecast period

MARKET INDICATORS

Table 8 Number of High Net Worth Individuals (HNWI): 2012-2017

MARKET DATA

Table 9 Sales of Luxury Goods by Category: Value 2012-2017
Table 10 Sales of Luxury Goods by Category: % Value Growth 2012-2017
Table 11 Inbound Receipts for Luxury Goods by Country of Origin: Value 2013-2017
Table 12 NBO Company Shares of Luxury Goods: % Value 2012-2016
Table 13 LBN Brand Shares of Luxury Goods: % Value 2013-2016
Table 14 Distribution of Luxury Goods by Format and Category: % Value 2017
Table 15 Forecast Sales of Luxury Goods by Category: Value 2017-2022
Table 16 Forecast Sales of Luxury Goods by Category: % Value Growth 2017-2022

Megatrends

Country Report

Luxury Timepieces in South Korea

New Report Guarantee

Executive Summary

New Report Guarantee

PROSPECTS

Consumer-driven trends noticeable in luxury timepieces

Female consumers start to show an interest

Luxury timepieces continue to be purchased by inbound tourists

COMPETITIVE LANDSCAPE

Timepiece specialist brands perform well

Brands aiming for luxury-casual thrive

Overview

Why buy this report?

Samples (FAQs about samples):

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Table of Contents

Luxury Timepieces in South Korea - Category analysis

HEADLINES

PROSPECTS

Consumer-driven trends noticeable in luxury timepieces

Female consumers start to show an interest

Luxury timepieces continue to be purchased by inbound tourists

COMPETITIVE LANDSCAPE

Timepiece specialist brands perform well

Brands aiming for luxury-casual thrive

CATEGORY DATA

Luxury Goods in South Korea - Industry Overview

EXECUTIVE SUMMARY

Luxury goods records growth, attracting further interest from manufacturers

Expanding consumer base drives growth of luxury goods

Luxury car manufacturers dominate luxury goods

Mixed retailers remains the main retailing channel in luxury goods, while internet retailing is developing

Potential for growth of luxury goods in the forecast period

MARKET INDICATORS

MARKET DATA

SOURCES

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