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Strategy Briefing

Watches in Western Europe

Jan 2020

US$1,325

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About This Report

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If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

Value sales of watches in Western Europe declined in 2019, dragged down by a weak performance by the basic and mid segments, as consumers move to smartwatches and/or hybrid ones. A positive showing by high-end watches across countries in 2019 and over the forecast period will set the growth path for watches overall in Western Europe.

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Overview

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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.

Key Findings

Stagnating economic performances slow down growth

Struggling economies across the region are impacting watches sales significantly, due to increasing fears of recession in major markets like Germany and Italy.

International tourists drive sales in major markets

Western Europe has a long-standing reputation in luxury timepieces. Tourist purchasing accounts for a large proportion of total market value, and in recent years, arrivals have been increasing. Fears of terrorism, which caused declines in the past, have reduced, and there has been a greater focus on Chinese and other Asian customers, with efforts to make the purchase process more user-friendly.

Hybrid watches take sales from the low and mid-range segments

Regional sales of basic and mid watches declined over 2014-2019, while sales in the high segment grew. This trend was a result of the appearance of smart and hybrid watches, which have taken sales from the lower priced segments.

Internet retailing increases price pressure

Internet retailing has a lower share in watches than in many other industries, mostly as the items tend to have fairly high unit prices, and consumers prefer to see and touch the items before purchasing. Nevertheless, the channel’s share of sales value is increasing year-on-year, with no sign of this growth slowing. With an increasing number of retailers focusing on e-commerce, prices are under pressure, with some brands seeing their prices cut significantly, with a negative impact on their shares and on overall industry value.

Fashion brands increase their presence

Watch brands whose core business is designer apparel, such as Gucci and Louis Vuitton, have tended to perform well, as a result of more collections being released, meeting consumers’ desire to change their look regularly.

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Introduction

Scope

Key findings

Regional Overview

Watches: Western Europe in a global context

Stable outlook ahead

Polarisation in performance of watches by price segment

UK leads growth, driven by high priced watches

Polarisation by price apparent across the region

High-priced watches taking share from mid-priced and basic watches

Non-store retailing growing steadily, driven by internet retailing

Mixed performance within Western European retailing

Leading Companies and Brands

Market consolidation is taking place

Luxury brands leverage major companies growth

Market concentration and the risk to future operations

Relative stability among the top brands

Forecast Projections

All regional markets forecast to grow over 2019-2024

Improving circumstances expected to be reflected in sales

Country Snapshots

UK: market context

UK: competitive and retail landscape

Italy: market context

Italy: competitive and retail landscape

Switzerland: market context

Switzerland: competitive and retail landscape

France: market context

France: competitive and retail landscape

Germany: market context

Germany: competitive and retail landscape

Spain: market context

Spain: competitive and retail landscape

Netherlands: market context

Netherlands: competitive and retail landscape

Sweden: market context

Sweden: Competitive and retail landscape

Turkey: market context

Turkey: competitive and retail landscape

Appendix: Competitor Analytics

Competitor Analytics tool

Overview

Competitors

Market overlap

Treemap

Overlap matrices

Appendix: Industry Forecast Model

About Euromonitor International’s Industry Forecast Model

Soft drivers and the Industry Forecast Model

Growth decomposition explained

Significance and applications for growth decomposition

Key applications for Industry Forecast Models

Appendix: Via Pricing

About Via Pricing from Euromonitor International

Why buy this report?

Want to find out more about this report?

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Megatrends

Strategy Briefing

Watches in Western Europe

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

Key Findings

Stagnating economic performances slow down growth

International tourists drive sales in major markets

Hybrid watches take sales from the low and mid-range segments

Internet retailing increases price pressure

Fashion brands increase their presence

Want to find out more about this report?

Table of Contents

Introduction

Scope

Key findings

Regional Overview

Watches: Western Europe in a global context

Stable outlook ahead

Polarisation in performance of watches by price segment

UK leads growth, driven by high priced watches

Polarisation by price apparent across the region

High-priced watches taking share from mid-priced and basic watches

Non-store retailing growing steadily, driven by internet retailing

Mixed performance within Western European retailing

Leading Companies and Brands

Market consolidation is taking place

Luxury brands leverage major companies growth

Market concentration and the risk to future operations

Relative stability among the top brands

Forecast Projections

All regional markets forecast to grow over 2019-2024

Improving circumstances expected to be reflected in sales

Country Snapshots

UK: market context

UK: competitive and retail landscape

Italy: market context

Italy: competitive and retail landscape

Switzerland: market context

Switzerland: competitive and retail landscape

France: market context

France: competitive and retail landscape

Germany: market context

Germany: competitive and retail landscape

Spain: market context

Spain: competitive and retail landscape

Netherlands: market context

Netherlands: competitive and retail landscape

Sweden: market context

Sweden: Competitive and retail landscape

Turkey: market context

Turkey: competitive and retail landscape

Appendix: Competitor Analytics

Competitor Analytics tool

Overview

Competitors

Market overlap

Treemap

Overlap matrices

Appendix: Industry Forecast Model

About Euromonitor International’s Industry Forecast Model

Soft drivers and the Industry Forecast Model

Growth decomposition explained

Significance and applications for growth decomposition

Key applications for Industry Forecast Models

Appendix: Via Pricing

About Via Pricing from Euromonitor International

Why buy this report?

Want to find out more about this report?

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