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Learn moreSep 2020
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Economic instability and an increasing dependence on digital devices such as smartphones for timekeeping purposes was already impacting demand for watches in South Africa prior to the emergence of COVID-19 and the ensuing lockdown measures, resulting in general stagnation for the category at the end of the review period. This was particularly notable amongst basic and mid segments, as low- to mid-income consumers viewed spending on watches as less of a priority compared to other essential goods, including groceries, and personal care items.
The Swatch Group (South Africa) (Pty) Ltd retained its overall lead of watches in 2019, a fairly fragmented competitive landscape, due to its lead of mechanical watches and quartz analogue watches with a wide range of price points including brands that are available in basic, mid and high watches for men and women. The company’s well-known basic quartz analogue watch Swatch continues to appeal to lower- to mid-income consumers and is the leading brand within overall watches, managing to gain marginal value share in 2019.
With store-based watch specialists forced to close during the lockdown in South Africa, and production capacity of notable Swiss manufacturers such as Swatch severely limited due to concerns over adequate social distancing, the leading watches player announced that it had been heavily impacted by the outbreak of COVID-19, claiming in July a first half-year loss in sales. The player’s 260 global stores were closed and restrictions on tourists who normally purchase its products also compounded the negative scenario.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Watches industry in South Africa 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 South Africa, our research will save you time and money while empowering you to make informed, profitable decisions.
The Watches in South Africa 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.