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Watches in
Singapore

Country Report

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Executive Summary

Aug 2019
PROSPECTS
Increase in entry-level mechanical watches

Mechanical watches are still highly regarded as a status symbol in Singapore. Sales of watches have been growing, with the younger generation increasingly concerned about “accessorising” themselves.

Quartz digital watches declining

One key trend in watches is the waning demand for basic and mid digital watches. This is due to the high penetration rate of smartphones and, now, smart wearables to pair them with.

COMPETITIVE LANDSCAPE
Luxury watch brands remain the leaders

Rolex Singapore remains the leading player in Singapore, followed by Louis Vuitton Singapore. Luxury watches are doing well in Singapore as they are consistently perceived as an indicator of social status, attracting higher-income individuals to invest in timepieces.

E-commerce gains importance

In line with the popularisation of online retailing, spending on luxury goods is slowly shifting online too. The online channel for watches is undeniably gaining importance, and it is forecast that the trend will continue in the coming years.

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Watches in Singapore

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Overview

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

The Watches in Singapore 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 Singapore?
  • 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 Singapore - Category analysis

HEADLINES

PROSPECTS

Increase in entry-level mechanical watches
Quartz digital watches declining

COMPETITIVE LANDSCAPE

Luxury watch brands remain the leaders
E-commerce gains importance

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 Singapore - Industry Overview

EXECUTIVE SUMMARY

Personal accessories maintains slow growth in an uncertain economy
Changing consumer behaviour
Fragmented competitive landscape
Internet retailing is growing, but bricks-and-mortar still dominates
Positive outlook for personal accessories

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