The latest research report entitled Luxury Watches Market (by type (mechanical watch, automatic watch, diving watch, smart watch, and other types), gender (men’s luxury, and women’s luxury watches), distribution channel (exclusive branded showrooms, departmental stores, online retailing)) provides complete and deep insights into the market dynamics and growth of luxury watches.
The latest information on market risks, industry chain structure luxury watches cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential luxury watches growth factors.
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Expansion of Online Retailing are the Major Factors that are Anticipated to Drive the Growth of the Luxury Watches Market
Luxury watches are high-end watches that symbolize the status or success of individuals. The attention to detail, costly parts, craftsmanship, complex micromechanisms, precision in timekeeping and enticing designs make luxury watches stand apart among other watches. Some of the luxury watches are so complex that it requires months of craftsmanship and top quality materials to manufacture those.
Some of the luxury watches are limited edition watches; hence the prestige and cost of those watches are high. Swiss made luxury watches hold high value in terms of brand and customer preference worldwide. Quartz watches have changed the luxury watches industry in a big way as it utilizes an electric motor, easier to manufacture, need lesser parts, and more precise than the conventional mechanical watches.
Excess inventory and sliding sales characterize the current scenario of the market. The emerging fashion trends, rising per capita income in various countries and expansion of online retailing are the major factors that are anticipated to drive the growth of the luxury watches market. Blending tradition with modern smart technology by some manufacturers is expected to enhance the growth of luxury watches in the near future. New products with smart technology introduced for women are expected to drive the growth of the market during the forecast period. High-end smartwatches are anticipated to become mainstream luxury watches in the near future.
Moreover, women moving away from smaller watches to bigger dialed watches, unisex watches, and smartwatches are some other factors that are influencing the moderate growth. On the contrary, the high cost of the watches and the presence of replica watches are major factors restraining the growth of the luxury watches market. Moreover, emerging markets luxury watches are expected to provide opportunities for the luxury watches market during the upcoming years.
Europe Dominates the Luxury Watches Market followed by North America
As per the geographies, Europe dominates the luxury watches market followed by North America. The presence of major luxury watch manufacturers in Switzerland drives the European Market. In the North America region factor such as the introduction of smart technology with new products drives the growth of the market. Further, Asia Pacific is a major growing region for the luxury watches market due to the presence of China, the largest manufacturing nation of luxury watches.
The report on global luxury watches market covers segments such as type, gender, and distribution channel. On the basis of type, the sub-markets include mechanical watch, automatic watch, diving watch, smart watch, and other types. On the basis of gender, the sub-markets include men’s luxury watches, and women’s luxury watches. On the basis of distribution channel, the sub-markets include exclusive branded showrooms, departmental stores, online retailing, and specialist retailers.
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The report provides profiles of the companies in the market such as AudemarsPiguet Holding SA, Compagnie Financière Richemont SA, Citizen Watch Co., Ltd., Dinh Van SAS, Dolce & Gabbana, Giorgio Armani S.p.A., Patek Philippe S.A., Movado, Richard Mille, The Swatch Group Ltd, and Other companies.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the luxury watches.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.