Watches in the US

PROSPECTS

Watches sales continue to decline

Watches continued to post a solid decline in volume and retail value sales in 2018. Basic watches and mid watches sales were significantly down, as the demand for fashion watches decreased.

Wearable technology has expanded the overall watches category, with some cannibalisation

Wearable technology has gained significant attention since the launch of the Apple Watch in April 2015. Its growth, however, has started to slow down due to a decline in activity band sales and a slowdown in the growth of smart wearables.

Internet retailing recording strong growth in watches

Internet retailing recorded the fastest growth rate in overall sales of watches in 2018. Consumers are increasingly shopping online.

COMPETITIVE LANDSCAPE

The competition intensifies

While the watches category remains highly competitive, a broad range of players, from domestic to international, compete at different price points. In basic watches and mid watches (watches priced at less than USD1,000), traditional watch brands Fossil, Citizen, Timex and Casio maintained leading positions in 2017.

Fossil Group remains the leading player in watches

Fossil Group continued to lead watches sales in 2017, thanks to its extensive brand portfolio and wide distribution network. The company registered a decline in sales, which was attributable to the soft demand for traditional watches.

Small fashion watch brands are in, but for how long?

While big watch brands have been out of favour, small fashion watch brands have been in vogue and grown in popularity. Example include Daniel Wellington, MVMT, Cluse, Kapten & Son, Olivia Burton and Rosemont.

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