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After enduring marginal declines in growth during the review period, retail volume sales of watches are set to register double-digit declines in 2020 as a result of the outbreak of the COVID-19 pandemic. Over the same review period, current value sales of watches saw only lacklustre growth, and now value sales are also expected to see a double-digit decline in 2020.
Due to the high penetration of smartphones, watches are increasingly no longer the primary instrument consumers rely on to keep time. In fact, many consumers, especially younger consumers, consider wearing a watch to be inconvenient.
Despite a dip in value share—a steady pattern recorded by the company in recent years—Swatch Group España continued to lead the watches category in value terms in 2019, a position it has held throughout the review period. The strong, albeit diminishing, sales performance of Swatch Group España was based on its continuing to hold a commanding lead in quartz analogue watches while simultaneously maintaining a notable presence in several other areas of watches.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Watches industry in Spain 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 Spain, our research will save you time and money while empowering you to make informed, profitable decisions.
The Watches in Spain 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.