Faced with a dramatic reduction of in-store sales opportunities due to the impact of the COVID-19 pandemic during 2020 and 2021, Argentina’s leading distributors of high watches obtained authorisation from the respective global brand owners to enable them to distribute the leading international brands of high watches via e-commerce. Generally, the world’s most exclusive brands of high watches were extremely reluctant to authorise online sales prior to the onset of the COVID-19 situation.
Another factor that partially supported sales of high watches in Argentina during 2020 and 2021 was that these items are often considerably cheaper in Argentina than in other countries. The reason for this is the set of anomalies that has emerged due to the high inflation and currency controls that apply in the country.
Basic watches experienced various challenges maintaining consistent sales during 2020 and 2021 and this was largely due to the impact of the COVID-19 pandemic. In particular, the restrictions placed on the ability of shopping centres and retail stores to operate at full capacity meant that many people faced queues and lengthy waiting times to enter shopping centres and stores, discouraging them from going shopping for basic watches.
In general terms, sales of watches are expected to remain under pressure in Argentina for much of the forecast period. The main issue to take into consideration here is that watches are rarely, if ever, regarded as essential items, which means that they are likely to continue being seen as a low priority by the majority of consumers.
A new as mentioned above, the introduction of currency controls in an effort to limit capital flight towards the end of the review period has piled additional pressure on demand for high watches. Early 2021 saw the government of Argentina implement measures that are designed to curb capital flight due to high inflation and this has limited the options of consumers that need to transfer their pesos into US dollars to effect the importation of luxury goods, including high watches.
With e-commerce having surged ahead during 2020 and 2021 as many consumers turned to online channels due to the impact of the COVID-19 pandemic, the forecast period is expected to see further increases in online sales of watches. Among the key factors set to spur growth in online sales of watches is the increasing availability of a wide range of brands across basic, mid and high watches on a variety of e-commerce sites.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Traditional Watches industry in Argentina with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Traditional Watches industry in Argentina, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Traditional Watches
Watches are timekeeping instruments usually worn on the wrist or carried as an accessory in a pocket. Includes wristwatches, pocket watches, and watch jewellery (gemstone-studded watches).
See All of Our DefinitionsThis report originates from Passport, our Traditional Watches research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!