The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreNov 2013
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This report analyses the global watches market, providing in-depth insight of major trends and growth drivers, and examining the future growth markets for each watches category.
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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.
Asia Pacific was the growth driver in the review period, as the European and North American markets were negatively affected by the global recession. That said, there are signs that Asia Pacific’s buoyant growth is also slowing down over the next 5 years.
Quartz analogue (analogue) watches account for more than half of global sales in both value and volume terms. However, mechanical watches posted stronger growth over the review period and are expected to continue to do so over the forecast period.
The Chinese population is increasingly more educated and with an increase in professional and white collar employment, social-economic changes are influencing lifestyle shifts. Chinese consumers are increasingly spending on apparel, personal accessories and vacations.
Watches conglomerates such as The Swatch Group and Fossil Inc have seen strong sales performances via their internet retailing platforms, and are extending online sales to the various brands in their group’s portfolio.
Growth rates for quartz digital (digital) are stronger in the emerging countries, where the requirement is simply traditional time-keeping function. In developed countries, growth rates are relatively flat and consumers prefer advanced functions beyond simple time-keeping.
On the back of a slowdown in smartphones sales growth, consumer electronics manufacturers looking to venture into the digital watch arena with wearable devices that offer an array of connectivity functions.
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.