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Learn moreJan 2021
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In 2020, luxury timepieces was negatively impacted by the onset of the COVID-19 pandemic leading to the halting of tourism and subsequent lockdowns in the UK, which has forced a huge range of businesses and non-essential shops to close for the foreseeable future. These occurrences as well as the ongoing economic and social anxiety linked to the pandemic have prevented British shoppers from engaging in their normal shopping habits causing a decline in sales of watches like many other discretionary items.
The online channel sees continued growth in timepieces in the UK and growth rates are likely to accelerate in 2020 and beyond, as a result of the retail disruption caused by COVID-19 which forced players to quickly adapt to new commerce strategies and tackle the barriers faced by consumers regarding purchasing high-end products online. Even though the share of online sales of watches, particularly high-end watches continues to lag behind other categories such as apparel and leather goods, the pandemic crisis forces watch players to adapt to digital commerce or risk a potential collapse of their business.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Luxury Timepieces industry in United Kingdom 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 United Kingdom, 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.