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Watches has been hard hit by COVID-19 with sales set to drop by around one fifth in current value terms in 2020. The problems started in February 2020 with fewer Chinese visitors arriving in Japan to celebrate Chinese New Year.
E-commerce is expected to see strong gains in 2020, with online retailers taking advantage of store closures to build sales. E-commerce had already gained share in watches in the latter part of the review period, with many retailers adopting an omnichannel approach in order to adapt to the changing face of retailing in Japan.
Sales of basic watches are not expected to be hit as hard hit by COVID-19 as mid and high watches, with these often being purchased for their practicality rather than as an expensive fashion statement. Basic watches are also generally less reliant on tourism for sales, with brands such as Casio seeing significant local demand.
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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:
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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.