Watches in Ukraine

PROSPECTS

Restricted consumer spending power prevents return to pre-crisis levels in watches

In 2019, consumer spending power in Ukraine was among the lowest in the whole of Europe. The country plunged into an economic and political crisis in 2014 and 2015 and, in spite of a gradual recovery demonstrated by the domestic economy since then, Ukrainians are still not able to spend as strongly as they did prior to the crisis.

Mechanical watches increasingly turning into status objects

At the end of the review period, quartz analogue watches was the biggest category in watches in Ukraine. These products offered a good balance between affordability and functionality as well as the possibility of changing them frequently enough to stay in line with the evolving fashion trends.

Electronic gadgets to put watches under pressure in the future

While smart watches were not viewed as serious competitors to watches at the end of the review period, electronic gadgets are still having an impact on overall watches consumption, with this expected to increase in the future. With the appearance of smartphones and fitness trackers, the need to own a watch is no longer so important, especially among young consumers.

COMPETITIVE LANDSCAPE

Casio leads thanks to a wide assortment and penetration of all price segments

Watches is the domain of foreign brands in Ukraine, with the only local brand on offer being Kleynod from KHZ TOV, which has a watches plant in Kyiv. The leading position is held by Casio Europe GmbH, thanks to its pioneering entry into the country and wide assortment of watches of all types and in all price segments.

Internet retailing’s share grows in distribution of watches

Jewellery and watch specialist retailers is the core distribution channel of watches, since such stores, especially chained ones such as Secunda, provide consumers with wide assortments of brands and prices to choose from as well as professional advice. However, in recent years, internet retailing has been a dynamically growing channel, attracting consumers with its wide assortments, while saving time otherwise needed for visiting a store as well as possibly also cost savings.

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