Watches are expected to register a rebound in 2021, with healthy current value growth. Medium-priced watches in particular are expected to see a strong recovery, as this price range suffered the steepest decline in 2020.
Swatch Group (Polska) suffered dips in value share in recent years, but the company, armed with popular brands Tissot, Swatch and Calvin Klein, amongst others, continues to lead the highly fragmented watches landscape. The remaining players, mostly multinationals, all hold considerably less value share, though there have been recent new brand entrants such as Fortis and Michel Herbelin.
Watches with a bracelet, rather than with a traditional leather strap, are more popular during the pandemic. Watches with leather straps are considered more elegant, classic and formal, but are mainly worn for formal events such as business meetings.
Quartz analogue watches will see the greatest rebound, with both volume sales and value sales growing at double-digit growth rates early in the forecast period before stabilising. Value sales of mechanical watches are likely to benefit from the high prices typically associated with branded luxury watches.
Over the forecast period, the growth rate of volume sales of watches is projected to outpace, albeit modestly, the growth rate of value sales at constant 2021 prices, implying that price-conscious consumers will continue to be interested in buying watches but in many instances, they will avoid purchasing more expensive models. In particular, these buying patterns will be evident in popular quartz analogue watches, the largest product are by far in value sales terms.
Prior to the pandemic, the distribution landscape of watches was dominated by specialist retailers. Leading jewellery stores, such as Apart, W.
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Understand the latest market trends and future growth opportunities for the Watches industry in Poland with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Watches research and analysis database.
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