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Learn moreJan 2021
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Luxury timepieces registered strong sales declines during 2020 as the COVID-19 pandemic placed significant pressure on demand for non-essential products. With the jobs and incomes of many Thai people under a cloud due to the negative impact of the COVID-19 situation during 2020, relatively few people were able to justify spending significant sums of money on a luxury timepieces.
Online sales of luxury timepieces remained minimal in 2020 despite the major shift towards e-commerce that was seen across numerous consumer goods industries over the course of the year as the COVID-19 pandemic affected the ability of consumers to shop in stores. The high prices charged for luxury timepieces, the perceived risk of fraud when completing high-value online transactions and the fear of purchasing counterfeits all count against the category when it comes to online sales, with a personal consultation with an experienced and knowledgeable sales agent in a licensed store a basic requirement of purchasing luxury timepieces for virtually all consumers.
With affluent consumers increasingly turning to online channels for information about the luxury timepieces that they are considering purchasing before heading to a store to have a professional sales consultation, product reviews on social media platforms and internet forums are becoming a more important source of information about luxury timepieces. With this in mind, the category’s leading brands are increasingly interested in managing these reviews and ensuring that consumers gain accurate and helpful information that also presents the brand in a positive light.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Luxury Timepieces industry in Thailand 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 Thailand, our research will save you time and money while empowering you to make informed, profitable decisions.
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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.