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Country Report

Watches in

Watches in South Korea

Aug 2020

US$990

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Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

2020 IMPACT

Tourist slump hits demand for high mechanical watches, mid watch players expand online presence

There were differing trends arising from COVID-19 in the watches category in 2020. Basic and mid watches were not as affected during Q1, but high mechanical watches, demand for which has a high reliance on inbound tourist arrivals, were more affected.

E-commerce limited for high-end watches, but players recognise the potential

While most personal accessories categories are seeing rapid e-commerce channel growth, the watches category saw the weakest increase in the market in 2019. The e-commerce distribution share remains especially low for mechanical watches because these products command high prices, and consumers wish to physically experience them prior to making a purchase, which requires a visit to a bricks and mortar outlet.

New brands appeal to consumers with competitive pricing, others gain share

The share held by others increased in 2019. Many brands are new entrants to South Korea.

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Watches Market Sample Report Watches Market Sample Data

Overview

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.

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Overview

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

The Watches in South Korea 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 South Korea?
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.

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Watches in South Korea - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Tourist slump hits demand for high mechanical watches, mid watch players expand online presence

E-commerce limited for high-end watches, but players recognise the potential

New brands appeal to consumers with competitive pricing, others gain share

RECOVERY AND OPPORTUNITIES

Premium brands set to see recovery as tourist activities resume

Offline events targeting younger consumers may continue to be affected if COVID-19 persists

Health awareness arising from COVID-19 could increase interest in smart wearables

CATEGORY DATA

Table 1 Sales of Watches by Category: Volume 2015-2020
Table 2 Sales of Watches by Category: Value 2015-2020
Table 3 Sales of Watches by Category: % Volume Growth 2015-2020
Table 4 Sales of Watches by Category: % Value Growth 2015-2020
Table 5 Sales of Watches by Price Band: Volume 2015-2020
Table 6 Sales of Watches by Price Band: Value 2015-2020
Table 7 Sales of Watches by Price Band: % Volume Growth 2015-2020
Table 8 Sales of Watches by Price Band: % Value Growth 2015-2020
Table 9 NBO Company Shares of Watches: % Value 2015-2019
Table 10 LBN Brand Shares of Watches: % Value 2016-2019
Table 11 Distribution of Watches by Format: % Value 2015-2020
Table 12 Forecast Sales of Watches by Category: Volume 2020-2025
Table 13 Forecast Sales of Watches by Category: Value 2020-2025
Table 14 Forecast Sales of Watches by Category: % Volume Growth 2020-2025
Table 15 Forecast Sales of Watches by Category: % Value Growth 2020-2025
Table 16 Forecast Sales of Watches by Price Band: Volume 2020-2025
Table 17 Forecast Sales of Watches by Price Band: Value 2020-2025
Table 18 Forecast Sales of Watches by Price Band: % Volume Growth 2020-2025
Table 19 Forecast Sales of Watches by Price Band: % Value Growth 2020-2025

Personal Accessories in South Korea - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on personal accessories

COVID-19 country impact

Company response

Retailing shift

What next for personal accessories?

MARKET DATA

Table 20 Sales of Personal Accessories by Category: Volume 2015-2020
Table 21 Sales of Personal Accessories by Category: Value 2015-2020
Table 22 Sales of Personal Accessories by Category: % Volume Growth 2015-2020
Table 23 Sales of Personal Accessories by Category: % Value Growth 2015-2020
Table 24 NBO Company Shares of Personal Accessories: % Value 2015-2019
Table 25 LBN Brand Shares of Personal Accessories: % Value 2016-2019
Table 26 Distribution of Personal Accessories by Format: % Value 2015-2020
Table 27 Forecast Sales of Personal Accessories by Category: Volume 2020-2025
Table 28 Forecast Sales of Personal Accessories by Category: Value 2020-2025
Table 29 Forecast Sales of Personal Accessories by Category: % Volume Growth 2020-2025
Table 30 Forecast Sales of Personal Accessories by Category: % Value Growth 2020-2025

Megatrends

Country Report

Watches in South Korea

New Report Guarantee

Executive Summary

New Report Guarantee

2020 IMPACT

Tourist slump hits demand for high mechanical watches, mid watch players expand online presence

E-commerce limited for high-end watches, but players recognise the potential

New brands appeal to consumers with competitive pricing, others gain share

Samples

Overview

Why buy this report?

Samples (FAQs about samples):

Want to find out more about this report?

Table of Contents

Watches in South Korea - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Tourist slump hits demand for high mechanical watches, mid watch players expand online presence

E-commerce limited for high-end watches, but players recognise the potential

New brands appeal to consumers with competitive pricing, others gain share

RECOVERY AND OPPORTUNITIES

Premium brands set to see recovery as tourist activities resume

Offline events targeting younger consumers may continue to be affected if COVID-19 persists

Health awareness arising from COVID-19 could increase interest in smart wearables

CATEGORY DATA

Personal Accessories in South Korea - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on personal accessories

COVID-19 country impact

Company response

Retailing shift

What next for personal accessories?

MARKET DATA

DISCLAIMER

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GLOBAL INDUSTRY ENVIRONMENT

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