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Like other personal accessories categories, watches is expected to see a significant negative impact from COVID-19 in 2020 overall. Watches had already seen current value declines in 2018 and 2019, and this is expected to turn to a stronger current value decline in 2020, due to the implementation of lockdown measures intended to prevent the spread of the virus.
High watches is expected to be the most negatively affected category within watches in current value terms in 2020, especially high quartz digital watches, mainly due to the loss of sales to tourists, who enjoy buying watches when they travel. Chinese tourists are a key consumer group.
Rolex Italia continued to lead watches in Italy in value terms in 2019, as Rolex is popular for investment purchases. A Rolex watch is considered to be of the highest precision and quality and is an aspirational item, remaining the most recognised luxury Swiss watch brand in Italy thanks to its high-end collections.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Watches industry in Italy 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 Italy, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our watches market research database.
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.