Executive Summary

Jul 2019
PROSPECTS
Continued competition from technology hampers growth

The penetration of smartphones is very high amongst the Spanish population. As smartphones have become the main option for surfing the internet, communicating, and increasingly for online shopping, consumers no longer see the convenience of owning a watch, as smartphones show the time.

Polarisation negatively affects players in the mid-priced segment

With millennials choosing cheaper ranges and older Spaniards opting for luxury ranges, those players located in the mid-priced segment are increasingly suffering. This is demonstrated by high watches seeing by far the strongest current value performance in 2019, followed by basic watches, with mid watches barely increasing at all.

Political framework hampers growth, but the future is brighter

In 2019, watches showed a slightly weaker current value performance than in the previous year, due to the uncertainty caused by the election of a new government and internal independence issues. This resulted in some consumers postponing purchases of products which were not necessities; in particular watches.

COMPETITIVE LANDSCAPE
Swatch Group España leads despite the challenge from Rolex España

Swatch Group España continued to lead watches in value terms in 2018, seeing just a negligible decline in its value share. The company’s portfolio has a unique combination of diversity and weight, offering products under the brands Hamilton, Longines, Tissot, Omega and Swatch, which target not only different price ranges, but also different age groups, including children.

Luxury players keep gaining ground as brands are seen as an investment

In line with the trend seen in 2017, in 2018 luxury brands of watches continued to gain ground. This was linked to Spaniards increasingly identifying higher-end watches as a status symbol.

Original marketing strategies support brand sales

TAG Heuer, which saw amongst the best growth rates in watches towards the end of the review period, is developing a new marketing strategy in the country, which has already proven to be successsul. First, the brand began to sponsor football games in the country.

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Watches in Spain

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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:

  • 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 Spain?
  • 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 Spain - Category analysis

HEADLINES

PROSPECTS

Continued competition from technology hampers growth
Polarisation negatively affects players in the mid-priced segment
Political framework hampers growth, but the future is brighter

COMPETITIVE LANDSCAPE

Swatch Group España leads despite the challenge from Rolex España
Luxury players keep gaining ground as brands are seen as an investment
Original marketing strategies support brand sales

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 Spain - Industry Overview

EXECUTIVE SUMMARY

Economic recovery promotes indulgence, but some consumers still seek to save
Millennials demand fashionable yet reasonably-priced products
Polarisation and fragmentation squeeze smaller players with mid-priced products
Specialists continue to dominate, but internet retailing rising rapidly
Continued growth through focusing on next generation

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