Executive Summary

Jul 2019
PROSPECTS
High-end watches continue to be most dynamic

High-end quartz analogue watches and high mechanical watches continued to see the fastest growth in watches in Australia. High mechanical watches are receiving a boost from the introduction of new variants by some of the most renowned players in the industry.

Demand for either functional or fashionable watches

Luxury brand owners are now experimenting with different types of strap materials to make their watches even more unique, since straps are now growing to be just as important as the dial. Exotic leather straps are growing in demand and more collaborations between watch companies and luxury brands are therefore expected to be seen.

Customers searching for watches that match their personalities

Consumers, millennials in particular, are looking for watches that reflect their personalities and this trend can be seen in some companies introducing watches with distinct personalities. Citizen has introduced watches categorised according to different generic personality types, namely active, modern and traveller types.

COMPETITIVE LANDSCAPE
Daniel Wellington climbs up the rankings with the help of influencers

Daniel Wellington, a Swedish watch start-up, sold more than a million watches in 2018 with the help of its clever influencer marketing strategy. The brand has jumped up the rankings in mid quartz analogue watches and is now competing directly with established brands such as Swatch, Michael Hill, Casio and Seiko.

More luxury brands making their way into Australia

Watch brands such as Piaget, Blancpain, Breguet, Patek Philipe and Vacheron Constantin, responsible for producing many best-selling watches, are being sold through numerous watch distributers, such as The Hour Glass, Watches of Switzerland and J Farren Price, as they do not yet have their own boutique stores. While IWC Schaffhausen has a boutique in Melbourne, in Sydney it distributes its timepieces through authorised dealers.

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Watches in Australia

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Overview

Discover the latest market trends and uncover sources of future market growth for the Watches industry in Australia 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 Watches industry in Australia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Watches in Australia 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:

  • How do sales of mechanical, quartz analogue and quartz digital watches compare in Australia?
  • Which format of watch underpins most sales: casual, formal or sports?
  • Which retail channel is showing the most future promise?

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

This industry report originates from Passport, our watches market research database.

Watches in Australia - Category analysis

HEADLINES

PROSPECTS

High-end watches continue to be most dynamic
Demand for either functional or fashionable watches
Customers searching for watches that match their personalities

COMPETITIVE LANDSCAPE

Daniel Wellington climbs up the rankings with the help of influencers
More luxury brands making their way into Australia

CATEGORY DATA

Table 1 Sales of Watches by Category: Volume 2014-2019
Table 2 Sales of Watches by Category: Value 2014-2019
Table 3 Sales of Watches by Category: % Volume Growth 2014-2019
Table 4 Sales of Watches by Category: % Value Growth 2014-2019
Table 5 Sales of Watches by Price Band: Volume 2014-2019
Table 6 Sales of Watches by Price Band: Value 2014-2019
Table 7 Sales of Watches by Price Band: % Volume Growth 2014-2019
Table 8 Sales of Watches by Price Band: % Value Growth 2014-2019
Table 9 NBO Company Shares of Watches: % Value 2014-2018
Table 10 LBN Brand Shares of Watches: % Value 2015-2018
Table 11 Distribution of Watches by Format: % Value 2014-2019
Table 12 Forecast Sales of Watches by Category: Volume 2019-2024
Table 13 Forecast Sales of Watches by Category: Value 2019-2024
Table 14 Forecast Sales of Watches by Category: % Volume Growth 2019-2024
Table 15 Forecast Sales of Watches by Category: % Value Growth 2019-2024
Table 16 Forecast Sales of Watches by Price Band: Volume 2019-2024
Table 17 Forecast Sales of Watches by Price Band: Value 2019-2024
Table 18 Forecast Sales of Watches by Price Band: % Volume Growth 2019-2024
Table 19 Forecast Sales of Watches by Price Band: % Value Growth 2019-2024

Personal Accessories in Australia - Industry Overview

EXECUTIVE SUMMARY

High-end personal accessories grow consistently
Premiumisation and exclusivity trend prevails
Personal accessories remains competitive and fragmented
E-commerce grows as consumers seek convenience
Personal accessories expected to see healthy growth in the forecast period

MARKET DATA

Table 20 Sales of Personal Accessories by Category: Volume 2014-2019
Table 21 Sales of Personal Accessories by Category: Value 2014-2019
Table 22 Sales of Personal Accessories by Category: % Volume Growth 2014-2019
Table 23 Sales of Personal Accessories by Category: % Value Growth 2014-2019
Table 24 NBO Company Shares of Personal Accessories: % Value 2014-2018
Table 25 LBN Brand Shares of Personal Accessories: % Value 2015-2018
Table 26 Distribution of Personal Accessories by Format: % Value 2014-2019
Table 27 Forecast Sales of Personal Accessories by Category: Volume 2019-2024
Table 28 Forecast Sales of Personal Accessories by Category: Value 2019-2024
Table 29 Forecast Sales of Personal Accessories by Category: % Volume Growth 2019-2024
Table 30 Forecast Sales of Personal Accessories by Category: % Value Growth 2019-2024

SOURCES

Summary 1 Research Sources