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Learn moreJul 2019
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The key factor behind the continued success of sales leader Daniel Wellington is its strong knowledge and effective targeting of its customer base. The company’s main clientele is millennials, who are still in the early stages of their careers and generally lack the disposable income to support luxurious purchases.
The watches category is stagnating in Sweden. In 2019, value sales posted minimal growth while volume sales declined for a third consecutive year.
New technology drove many consumers away from watches to smart wearables over the review period, a trend that watch manufacturers are definitely not unaware of. As Swedish retail is moving rapidly away from using cash, a key benefit of a smart watch is that the device allows the user to pay for goods electronically.
The Swatch Group continues to lead watches sales, although Daniel Wellington AB has made rapid gains in recent years. Nevertheless, the price difference between brands from The Swatch Group and the Daniel Wellington brand means that The Swatch Group does not need to increase demand to the same extent to boost value sales.
Swiss watchmakers continue to struggle, with sales and exports to Sweden decreasing in 2018. Indeed, 2018 saw Sweden fall out of the top 30 biggest export markets for Swiss watches.
In addition to Daniel Wellington, websites such as uret.se are helping to boost internet retailing sales within watches.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Watches industry in Sweden 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 Sweden, our research will save you time and money while empowering you to make informed, profitable decisions.
The Watches in Sweden 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.