Luxury Timepieces in Thailand

PROSPECTS

Product supply shortage strategy aims to create desire

Over the forecast period, retail volume and value (current and constant 2018 prices) sales of luxury timepieces are projected to rise. Growth is expected to be supported by Swiss-made timepieces and signature models by well-known brands, which remain popular with watch lovers and collectors.

Watch specialist retailers look to the pop-up store format

Store-based watch specialist retailers are expected to remain the main distributors of luxury timepieces in the forecast period. The retailing landscape is predicted to remain challenging and brands should be very cautious when opening new stores or boutiques.

Watch exhibitions create interest in luxury timepieces

Due to greater penetration, smartwatches can be expected to grab some share from regular watches over the forecast period. However, this may not have a significant impact on the overall demand for luxury timepieces in Thailand.

COMPETITIVE LANDSCAPE

Rolex is top-of-mind

Rolex maintained its leading position in company and brand terms in 2017. The brand is top-of-mind for luxury timepieces, and personal luxury overall, among local consumers.

New launches contribute to healthy demand

The positive sales performance in 2018 was supported by a number of new product developments from Swiss- and non-Swiss-made brands. Luxury timepieces are popular among both men and women, although the highest interest is from men.

Luxury smartwatches add colour

The presence of luxury smartwatches in the country has not visibly weakened the appeal of luxury timepieces. On the contrary, their presence helps to bring interest and colour to the category, supported by the adoption of non-luxury smartwatches among Thai consumers.

Files are delivered directly into your account within a few minutes of purchase.