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Country Report

Luxury Timepieces in

Luxury Timepieces in Taiwan

14 pages, Apr 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

Mass usage of electronic devices dampens demand for luxury timepieces

The propensity to use electronic devices mean most consumers no longer use watches to tell the time. Moreover, smartwatches, which integrate with electronic devices, are garnering more attention than traditional timepieces, with the latter being preferred by consumers seeking more traditional products or aficionados who appreciate watches for their technical designs.

Men prefer luxury timepieces to display status

The positive but low value growth of luxury timepieces in 2017 is because these products are no longer considered necessities, as consumers have many electronic devices they can use to check the time. Moreover, men represent the major consumer group for luxury timepieces as they, more than women, are more likely to appreciate the technical workings of luxury timepieces.

Sales set to contract further due to decline in Chinese tourists

Compared with overall timepieces, sales of luxury timepieces fluctuated over the review period, with this trend set to continue over the following five years. Since 2011, which represented the strongest year for luxury timepieces owing to luxury expenditure from Chinese tourists, the decline in tourism from China, and new business rules in that country around gift giving, are set to lead to further contractions.

COMPETITIVE LANDSCAPE

Rolex remains popular thanks to its reputable image

In 2016, Rolex retained its lead in the category generating the most value sales of luxury timepieces in Taiwan thanks to its Swiss-made image and good second-hand prices. The company has built a wealthy and reputable image in Taiwan thereby making its watches among the most desirable gifts for business purposes and personal usage.

New smartphone launches do not influence sales of luxury timepieces

Sales of traditional luxury timepieces are not being influenced by the new launches of smartwatches such as Apple iWatch. The impact of smartwatches on luxury timepieces is minimal because the consumer groups for these two products generally do not overlap.

Luxury timepieces available via multiple channels

Luxury timepieces are available from many channels in Taiwan. In addition to luxury brand stores, luxury timepieces are sold via watch specialists, many of which have stores inside department stores in addition to independent stores to increase their coverage.

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

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

HEADLINES

PROSPECTS

Mass usage of electronic devices dampens demand for luxury timepieces

Men prefer luxury timepieces to display status

Sales set to contract further due to decline in Chinese tourists

COMPETITIVE LANDSCAPE

Rolex remains popular thanks to its reputable image

New smartphone launches do not influence sales of luxury timepieces

Luxury timepieces available via multiple channels

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 Taiwan - Industry Overview

EXECUTIVE SUMMARY

Unwavering demand for luxury goods, especially affordable luxury

Luxury consumers seek experiences from their luxury purchases

Concentrated market increasingly influenced by affordable luxury

Growth of outlet malls widens the consumer base for luxury goods in the country

Value growth to see a slowdown but remain positive

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 Taiwan

New Report Guarantee

Executive Summary

New Report Guarantee

PROSPECTS

Mass usage of electronic devices dampens demand for luxury timepieces

Men prefer luxury timepieces to display status

Sales set to contract further due to decline in Chinese tourists

COMPETITIVE LANDSCAPE

Rolex remains popular thanks to its reputable image

New smartphone launches do not influence sales of luxury timepieces

Luxury timepieces available via multiple channels

Overview

Why buy this report?

Samples (FAQs about samples):

Want to find out more about this report?

Table of Contents

Luxury Timepieces in Taiwan - Category analysis

HEADLINES

PROSPECTS

Mass usage of electronic devices dampens demand for luxury timepieces

Men prefer luxury timepieces to display status

Sales set to contract further due to decline in Chinese tourists

COMPETITIVE LANDSCAPE

Rolex remains popular thanks to its reputable image

New smartphone launches do not influence sales of luxury timepieces

Luxury timepieces available via multiple channels

CATEGORY DATA

Luxury Goods in Taiwan - Industry Overview

EXECUTIVE SUMMARY

Unwavering demand for luxury goods, especially affordable luxury

Luxury consumers seek experiences from their luxury purchases

Concentrated market increasingly influenced by affordable luxury

Growth of outlet malls widens the consumer base for luxury goods in the country

Value growth to see a slowdown but remain positive

MARKET INDICATORS

MARKET DATA

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