Executive Summary

Aug 2019
PROSPECTS
Expansion of tourism driving up demand for watches

The rising number of inbound tourists and high unit prices supported growth in watches at the end of the review period. Government efforts to develop the Japanese tourism industry and boost the number of inbound tourists are helping to drive up sales in watches, thanks to the country’s strong reputation for product authenticity and high-quality craftsmanship.

Sharing services emerging in watches

Smartwatches and sharing services represent an ongoing and growing threat to traditional watches. Smartwatches primarily compete with mid-priced watches, as they occupy a similar price range and target a similar consumer base.

Stores taking on a changing role

Internet retailing gained share in watches in the latter part of the review period, with the category seeing the interplay of e-commerce and store-based retailing serving to change the role of stores for many retailers. Increasingly, physical outlets are being positioned as showrooms, with many consumers visiting stores to see and try out products before purchasing them online, where they can find attractive discounts.

COMPETITIVE LANDSCAPE
Citizen ventures into hybrid smartwatches

In October 2018, Citizen partnered with Fossil Group to establish a presence in hybrid smartwatches. Under the partnership, Citizen will manufacture hybrid smartwatch movements incorporating Fossil Group’s technology, sell hybrid smartwatch movements and complete watches to the broader watch industry, and collaborate with Fossil in bringing innovation to the smartwatch category.

New brands entering market to appeal to modern consumers

Rolex’s Tudor brand entered Japan in October 2018, targeting the strong performance of high import watches in the market. The brand’s entry into the market utilised a mix of permanent retail locations and pop-up stores in Tokyo and Osaka, with a plan to quickly extend distribution to Nagoya and Sapporo.

Domestic brands see an improved performance

Having previously witnessed a trend of decline, domestic brands experienced a revival in their fortunes in 2018. As mentioned above, Citizen was boosted by the celebration of its centenary.

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Watches in Japan

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Overview

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

The Watches in Japan 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 Japan?
  • 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 Japan - Category analysis

HEADLINES

PROSPECTS

Expansion of tourism driving up demand for watches
Sharing services emerging in watches
Stores taking on a changing role

COMPETITIVE LANDSCAPE

Citizen ventures into hybrid smartwatches
New brands entering market to appeal to modern consumers
Domestic brands see an improved performance

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 Japan - Industry Overview

EXECUTIVE SUMMARY

Growth driven by upmarket trends and a willingness to spend
Key period of adaptation as computers and smartphones reduce consumers’ reliance on watches and writing instruments
Luxury players remain strong as demand for designer handbags surges
Internet exerting a growing influence on retailing
Growth expected despite significant constraints

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

DEFINITIONS

SOURCES

Summary 1 Research Sources