Watches in Mexico

PROSPECTS

Quartz analogue watches’ vast price range underpins share, while upmarket watches benefit from desire to conspicuously demonstrate wealth

Quartz analogue watches saw the most dynamic performance in this category in 2019. They are available via a variety of brands, at various qualities and in different price segments.

Mechanical watch buyers value personalised advice, favouring the specialists channel

Consumers of mechanical watches seek specialised advice when making a purchase, which benefits the jewellery and watch specialists channel. Such outlets are considered able to provide a high level of professional advice to consumers when selecting a mechanical watch, which is valued by consumers.

Smart watches benefit from high status image and pose degree of competition

Smart watches are wearable electronics, and while these items do not come under the remit of Euromonitor International’s watches category, but are categorised as consumer electronics, it is nonetheless interesting to note that smart watches continue to gain popularity, and do to some extent compete against traditional watches. While they do not have the obvious demonstration of wealth associated with high-value mechanical watches, their high retail price nonetheless conveys a certain level of income and social status.

COMPETITIVE LANDSCAPE

Seiko Epson’ Orient offers high quality at competitive prices but Swatch maintains lead via wide price range

In 2017, Seiko Epson Corporation integrated the Orient watches brand into its portfolio. Orient was relaunched in Mexico in 2018, and during 2019 will continue to strengthen its distribution through watch specialists and department stores, with the company working to achieve greater awareness of the brand.

Mido implements worldwide centenary celebrations, while Fossil loses out to smart watches

Behind Mido’s growth in 2018 was its strategy of positioning the brand as offering good quality. According to the brand’s Mexican director, the brand is benefiting from its long-standing if intermittent presence, having built up its reputation over time.

Tag Heuer targets affordable luxury and introduces limited edition watch with Mexico-specific positioning

The Tag Heuer positioning of affordable luxury is contributing to the brand’s success and growth. In 2018 the brand presented TAG Heuer Carrera Heuer-01 Ángel México, a 100-unit limited edition in honour of the Independence Angel, an emblematic symbol of Mexico City, and the TAG Heuer Carrera Heuer-02 Tourbilon Limited Edition México.

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