The global luxury watch market
is segmented into product type such as mechanical and quartz. Among these
segments, quartz segment is expected to occupy the leading position in the luxury
watch market over the forecast period. Quartz watch offers better accuracy as
compared to mechanical watch. Further, quartz watches are powered by battery
and require less maintenance as compared to other watches. Such beneficial
advantages of quartz watches are likely to drive the expansion of this segment
over the forecast period.
Global luxury watch market is
expected to expand at a decent CAGR over the forecast period. Moreover, the global
luxury watch market was valued at USD 230,911.8 Million in 2015 and is expected
to reach at notable revenue by the end of 2021. Swelled disposable income of
the consumers and their inclination towards luxurious lifestyle are key reasons
which are propelling the demand
for luxury watches across the globe. Further, increasing
luxury brands awareness amongst the population is also a key factor which may foster
the growth of market in near future.
The specialist retailers segment
grabbed major share of global luxury watch market in 2015. Further, specialization
and expertise of specialty retailers in sales of luxury products is a major
factor which is driving the growth of this market across the globe.
Furthermore, retailers are adopting various strategies such as better staffing
to increase the sales of luxury products. However, internet retailing segment
is also showcasing significant potential for future growth in global luxury
watch market.
Changing Living
Standards
Population across the globe these days is seeking for luxurious
experiences whether in terms of food, clothing or other experiences. Further, growing luxury
brand awareness and increasing disposable income of the consumers are some of
the key factors which are predicted to bolster the growth of global luxury market
in upcoming years. Moreover, rising preference for luxury products over cost effective
products amongst the population with high disposable income is forecasted to expand
the market of luxury watch across the globe in near future.
Urbanization
Rising urban density across the
globe is a key factor which is escalating the consumption of luxury products. Furthermore,
increased spending on personal luxury goods such as high-end fashion, handbags
and jewelry are envisioned to bolster the growth of market in future.
However, high cost of luxury
watch, lack of brand awareness in various undeveloped countries, counterfeit
products being sold at a much lower price, and lack of government laws for the
luxury watches segment are some of the factors that are likely to inhibit the
growth of the luxury watch market in the near future.
The
report titled “Global Luxury Watch Market Analysis &
Opportunity Outlook 2021” delivers
detailed overview of the global luxury watch market in terms of market
segmentation by product type, by distribution channel, by demography and by
region.
Further,
for the in-depth analysis, the report encompasses the industry growth drivers,
restraints, supply and demand risk, market attractiveness, BPS analysis and
Porter’s five force model.
This report also provides the
existing competitive scenario of some of the key players of the global luxury
watch market which includes company profiling of
Audemars Piguet, Burberry, Casio, Chanel, Chopard, Citizen, Dolce &
Gabbana, Giorgio Armani, Patek Philippe, Timex, Titan and Seiko. The
profiling enfolds key information of the companies which encompasses business
overview, products and services, key financials and recent news and
developments. On the whole, the report depicts detailed overview of the global luxury
watch market that will help industry consultants, equipment manufacturers,
existing players searching for expansion opportunities, new players searching
possibilities and other stakeholders to align their market centric strategies
according to the ongoing and expected trends in the future.
About Research
Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
Read more Information: https://www.researchnester.com/reports/global-luxury-watch-market-analysis-opportunity-outlook-2021/126
Contact for more
Info:
Ajay
Daniel
U.S.
+1 646 586 9123
U.K.
+44 203 608 5919
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