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Strategy Briefing
Watches in Western Europe
Apr 2018
US$1,325Added to Cart
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About This Report
New Report Guarantee
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
There are two main forces driving sales of watches in Western Europe. Firstly, sales of high-priced, luxury watches are mainly affected by diminished tourist flows due to terrorist attacks, however, the market recovered in 2017 with the gradual return of tourists to forsaken destinations. Secondly, sales of mid- and basic-priced watches are influenced by local spending and will be driven over the forecast period by increasing interest in local brands and an omnichannel approach to the industry.
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Overview
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.
Hard-hit watch market is showing signs of revival
Western Europe is the second largest region in terms of sales of watches, accounting for some 25% of global sales, at USD15.6 billion in 2017. The UK, Switzerland, France and Italy represent over half of regional value sales. The negative CAGR over 2012-2017 of 4% in value terms reflects the performance of watch sales over the review period. 2017 has finally seen revival in sales of watches and the category is predicted to grow further with a moderate 1% CAGR over 2017-2022.
Watches sales depend on affluent tourists
Sales of watches in Western Europe are linked to affluent tourist flows, and have declined severely in Turkey, Switzerland and France, after decline in inbound tourism related to terrorist attacks in 2015 and 2016 . The UK, however, remained appealing and witnessed growth in sales of watches. In future, sales are forecast to increase further with the return of affluent tourists across the region.
Decline across all categories
With steep historic period decline, negative growth across all watch categories persisted in Western Europe. Quartz analogue watches, the biggest category in value terms accounting for 52% of sales, was affected the most, followed by mechanical watches with 42%, and quartz digital with 6%.
Development of omnichannel approach
The share of internet retailing developed over the review period, accounting for almost 8% of value sales of watches in 2017, and is set to increase over the forecast period, at the expense of specialist retailers. This is mainly due to watch specialists - both manufacturers and retailers - recognising the need to place greater emphasis on their online presence. Watch specialists recognize not only consumer demand for convenience and value, but also provide the younger demographic with a platform to engage with brands and share their opinions on social media.
Want to find out more about this report?
Request more informationTable of Contents
Introduction
Scope
Key findings
Regional Overview
Watches: Western Europe in a global context
Optimistic outlook for watches
The UK leads Western Europe
Italy and the UK stand out
UK and Sweden mitigate the decline in Turkey and Switzerland
Mechanical versus quartz digital
Watch specialists’ knowledge and experience...
together with online approach is key to success
Leading Companies and Brands
Watches remains a fragmented industry…
…however leading companies perform the best…
…with varied geographic reach
Rolex and swatch remain unrivalled
Forecast Projections
A positive outlook in most countries
The prospects for the region are overall positive
Country Snapshots
France: market context
France: competitive and retail landscape
Germany: market context
Germany: competitive and retail landscape
Italy: market context
Italy: competitive and retail landscape
Netherlands: market context
Netherlands: competitive and retail landscape
Spain: market context
Spain: competitive and retail landscape
Sweden: market context
Sweden: competitive and retail landscape
Switzerland: market context
Switzerland: competitive and retail landscape
Turkey: market context
Turkey: competitive and retail landscape
UK: market context
UK: competitive and retail landscape
Appendix: Competitor Analytics
Competitor Analytics tool
Overview
Competitors
Market Overlap
Treemap
Overlap Matrices
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.
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