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Country Report

Luxury Timepieces in

Luxury Timepieces in the Philippines

Jan 2021

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!

2020 IMPACT

Minor declines for luxury timepieces as wealthier consumers continue to purchase them as investments

Luxury timepieces fared relatively well during the COVID-19 pandemic, with men’s luxury timepieces, for example, recording only a negligible retail value decline in 2020. Similar to luxury jewellery and leather goods, but possibly to an even greater extent, many high net worth individuals regard these products as a good alternative investment to more traditional financial vehicles, especially in periods of economic uncertainty.

Some consumers postpone purchases as retail outlets are forced to close

Given the high value of luxury timepieces, the majority of purchasers prefer to shop in physical, specialist outlets where they can inspect and try on the products, as well as receive qualified advice from sales consultants prior to purchase. In fact, e-commerce sales of luxury timepieces are negligible in the Philippines as a result.

Disruptions to imports and distribution during the pandemic

Luxury timepieces are generally imported to the Philippines. International travel restrictions, although not applicable to goods in most cases, and government instructions to work from home wherever possible led to delays in imports for some distributors during the pandemic.

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

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

KEY DATA FINDINGS

2020 IMPACT

Minor declines for luxury timepieces as wealthier consumers continue to purchase them as investments

Some consumers postpone purchases as retail outlets are forced to close

Disruptions to imports and distribution during the pandemic

RECOVERY AND OPPORTUNITIES

A long, slow recovery

Players to resume new product development

Revival of tourism to help boost unit sales

CATEGORY DATA

Table 1 Sales of Luxury Timepieces by Category: Value 2015-2020
Table 2 Sales of Luxury Timepieces by Category: % Value Growth 2015-2020
Table 3 NBO Company Shares of Luxury Timepieces: % Value 2015-2019
Table 4 LBN Brand Shares of Luxury Timepieces: % Value 2016-2019
Table 5 Distribution of Luxury Timepieces by Format: % Value 2015-2020
Table 6 Forecast Sales of Luxury Timepieces by Category: Value 2020-2025
Table 7 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2020-2025

Luxury Goods in the Philippines - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on luxury goods

COVID-19 country impact

Company response

Retailing shift

What next for luxury goods?

MARKET INDICATORS

Table 8 Number of High Net Worth Individuals (HNWI): 2015-2020

MARKET DATA

Table 9 Sales of Luxury Goods by Category: Value 2015-2020
Table 10 Sales of Luxury Goods by Category: % Value Growth 2015-2020
Table 11 Inbound Receipts for Luxury Goods by Country of Origin: Value 2015-2020
Table 12 NBO Company Shares of Luxury Goods: % Value 2015-2019
Table 13 LBN Brand Shares of Luxury Goods: % Value 2016-2019
Table 14 Distribution of Luxury Goods by Format and Category: % Value 2020
Table 15 Forecast Sales of Luxury Goods by Category: Value 2020-2025
Table 16 Forecast Sales of Luxury Goods by Category: % Value Growth 2020-2025

Megatrends

Country Report

Luxury Timepieces in the Philippines

New Report Guarantee

Executive Summary

New Report Guarantee

2020 IMPACT

Minor declines for luxury timepieces as wealthier consumers continue to purchase them as investments

Some consumers postpone purchases as retail outlets are forced to close

Disruptions to imports and distribution during the pandemic

Overview

Why buy this report?

Samples (FAQs about samples):

Want to find out more about this report?

Table of Contents

Luxury Timepieces in the Philippines - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Minor declines for luxury timepieces as wealthier consumers continue to purchase them as investments

Some consumers postpone purchases as retail outlets are forced to close

Disruptions to imports and distribution during the pandemic

RECOVERY AND OPPORTUNITIES

A long, slow recovery

Players to resume new product development

Revival of tourism to help boost unit sales

CATEGORY DATA

Luxury Goods in the Philippines - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on luxury goods

COVID-19 country impact

Company response

Retailing shift

What next for luxury goods?

MARKET INDICATORS

MARKET DATA

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

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