Personal Accessories

Traditional watches in Singapore is set to achieve slower growth in 2023 compared with 2022, although the category is expected to continue to register solid growth in retail current value terms and lower but steady growth in retail volume terms.…

Basic and mid-range traditional watches saw slower growth in retail volume terms in 2023 after seeing dynamic double-digit growth in 2022. The target audience for these products are generally more price-sensitive and they were impacted significantly…

Increasing unit prices has been a decades-long trend in traditional watches. Especially after the COVID-19 pandemic, unit prices rose by over 10% YoY from 2020 to 2022. The last decade also saw numerous years of volume decline. A main reason behind…

Traditional and connected watches registered relatively modest growth in constant value terms in 2023, when compared to the previous year. This was due to the declining fortunes of quartz analogue watches, which represented the largest category in…

In 2023, following the post-COVID-19 reopening, traditional and connected watches in China began to gradually recover, particularly after travel and health restrictions were lifted. After seeing a strong decline in 2022, the category is set to see…

Sales of personal accessories are expected to show continued signs of recovery in the market in 2023, despite factors hindering growth, such as local political uncertainty, higher household debt, high rates of inflation, and higher consumer…

Continuing high inflation and financial constraints derived from the unstable global economy have discouraged consumer spending on discretionary items, which is set to result in slower retail volume and current value growth for personal accessories…

Overall retail volume sales of personal accessories are expected to register a small decline in 2023, as the industry has navigated a slowing sales momentum post-pandemic, while managing the challenge of rising prices as a result of inflationary…

Since pandemic restrictions were lifted there has been a general uptick in sales across all categories of personal accessories, with this pattern continuing into 2023. The reopening of Malaysia’s borders has seen the return of international tourism,…

In 2023, there was a symbolic pivot in how Japan faced COVID-19. It was in May that the government announced that it would reclassify COVID-19 from a Class 2 infectious disease to a Class 5 infectious disease. Class 2 meant it was a crucial disease…