Despite the economic slowdown, demand for luxury watches continues to grow strongly in Indonesia, with many middle income consumers seeing products in this area as good investments. This trend is being seen among both older and younger consumers, especially within men’s watches.
Quartz analogue watches remains by far the largest watch category in Indonesia, as well as the most dynamic in volume growth terms. The category benefits from strong demand for leading brands such as Casio, Guess and Swatch, which have been popular for decades and regularly update their collections.
The strong growth in the popularity of healthy lifestyles and sport activities will continue to boost demand for watches. Nowadays, many consumers have one watch for sports and outdoor activities and another for casual and formal occasions, with the offering of smart watches with built-in trackers and more casual designs providing more options for consumers.
Hybrid and smart watches continue to gain popularity in Indonesia and are now the main competitors to analogue and digital quartz watches. This can be attributed to the fact that such watches are similarly priced but offer more features.
Many brands are looking to attract millennial consumers by launching new collections that comply with consumers’ packed schedules and new lifestyle trends. To attract consumers, brands engage in various different strategies.
International players continue to lead watches in Indonesia. Prominent foreign brands such as Casio and Guess have been present in the country for many years and enjoy strong reputations for quality among local consumers.
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This industry report originates from Passport, our watches market research database.