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Country Report

Luxury Timepieces in

Luxury Timepieces in Taiwan

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

Shift in nature of demand

The ubiquity of smartphones and their use for all manner of everyday purposes has undermined demand for traditional timepieces. As a result, timepieces are increasingly purchased for their decorative and symbolic properties rather than for timekeeping.

Changing character of the consumer base

With the functional, timekeeping role of traditional timepieces diminishing in importance, aficionados and those with an interest in the technical designs of watches are coming to constitute an increasingly large proportion of the consumer base. However, the symbolic function of traditional products continues to be supported by the custom of brides and grooms exchanging watches as wedding gifts, with luxury brands featuring prominently in this tradition.

Men prefer luxury timepieces to display status

Because of the increasingly symbolic function of traditional timepieces, luxury products are proving more resilient to the emergence of electronic devices than standard alternatives. The role of watches as status symbols is particularly prominent amongst male consumers, for whom there is a limited choice of accessories compared with their female counterparts.

COMPETITIVE LANDSCAPE

Luxury brands offer smartwatches

With smartwatches representing an increasingly prominent threat to traditional timepieces, manufacturers of luxury timepieces are looking to leverage the strength of their brands in the category. Boutique brand, Montblanc, launched its first smart watch, Summit, in 2017, and flowed this with the introduction of Summit 2 in October 2018.

Differing consumer bases for smartwatches and traditional products

While luxury players are looking to develop a presence in smartwatches, luxury timepieces’ core consumer base is not immediately drawn to smartwatches, favouring an image founded on heritage and a classic aesthetic. However, the fact that this consumer base is comprised largely of older consumers while younger people are the key consumers for smartwatches represents a long-term threat to traditional timepieces unless manufacturers can develop their brand images in line with the preferences of younger consumers.

Rolex retains the lead

Rolex retained the lead in luxury timepieces in 2017, benefiting from a strong brand image founded on the reputation of Swiss-made timekeeping products. However, in common with all of the top seven manufacturers, Rolex experienced a decline in value share between 2015 and 2017, as smaller players tapped into the shift in the character of demand in luxury timepieces from functionality towards symbolism and status.

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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

Shift in nature of demand

Changing character of the consumer base

Men prefer luxury timepieces to display status

COMPETITIVE LANDSCAPE

Luxury brands offer smartwatches

Differing consumer bases for smartwatches and traditional products

Rolex retains the lead

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 Taiwan - Industry Overview

EXECUTIVE SUMMARY

Growth despite challenges

Slower growth at the end of the review period

Challenge of modernising brands without losing classic appeal

Shopping experience remains key

Constraints on forecast period growth

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 Taiwan

New Report Guarantee

Executive Summary

New Report Guarantee

PROSPECTS

Shift in nature of demand

Changing character of the consumer base

Men prefer luxury timepieces to display status

COMPETITIVE LANDSCAPE

Luxury brands offer smartwatches

Differing consumer bases for smartwatches and traditional products

Rolex retains the lead

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

Shift in nature of demand

Changing character of the consumer base

Men prefer luxury timepieces to display status

COMPETITIVE LANDSCAPE

Luxury brands offer smartwatches

Differing consumer bases for smartwatches and traditional products

Rolex retains the lead

CATEGORY DATA

Luxury Goods in Taiwan - Industry Overview

EXECUTIVE SUMMARY

Growth despite challenges

Slower growth at the end of the review period

Challenge of modernising brands without losing classic appeal

Shopping experience remains key

Constraints on forecast period growth

MARKET INDICATORS

MARKET DATA

SOURCES

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