Luxury timepieces was hit particularly hard in 2020, falling into steep, double-digit, negative figure declines. Interestingly, more expensive watches suffered less than those in the mid-price luxury range, as the former is seen as a greater investment.
In 2021, Sweden resumed international travel and saw a moderate increase in the number of European tourists, who used to contribute to the sales of luxury timepieces considerably. Yet, as tourism flows remain far from recovery, Swedish residents were the main consumers of luxury timepieces in 2021.
Omega (The Swatch Group (Nordic) AB) and Rolex (Rolex SA) maintain their leading positions in 2020. The brands benefit from their strong image and growing offers in female and unisex watches.
Despite the rebound seen in 2021, sales in luxury timepieces are expected to slow down and be sluggish over the forecast period. Traditional luxury timepieces are expected to face increasing competition from both second-hand watches and the advancement of smart watches.
Similar to the trend seen in luxury jewellery, pre-owned luxury timepieces are expected to grow at fast rates, negatively affecting the demand for brand-new watches. For example, the high-end watches retailers of Sweden, such as LuxuryWatches Stockholm AB, Fredmans, and Klockia, while offering brand-new watches for pre-order, do not shy away from displaying a wide range of pre-owned items via their online shops.
Brand-new luxury timepieces, together with luxury jewellery, is one of the traditional luxury categories which is expected to remain heavily reliant on physical stores over the forecast period. Therefore, e-commerce is not expected to see any outstanding pace of development in brand-new watches.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Luxury Timepieces industry in Sweden with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Luxury Timepieces industry in Sweden, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This is the aggregation of luxury men's and women's luxury timepieces.See All of Our Definitions
This report originates from Passport, our Luxury Timepieces research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!