- Posts
- 4,611
- Likes
- 17,503
Omegafanman
·We have a few threads on stock markets and Bitcoin etc. I thought it might be interesting to get peoples views on the direction of travel for the luxury watch industry - more eCommerce for sure?
It looks like things held up pretty well considering how hard economises have been hit:-
.
Luxury watch sales are showing resilience even as the global coronavirus pandemic continues to rage. Whether new or used, demand for high-priced watches continue to at least keep pace, if not surpass, expectations in some markets.
The luxury watch industry has proved one of the most remarkable excrescences of 21st-century capitalism — it has more than doubled in size to £17 billion since 2000, according to Deloitte — and a global pandemic wasn’t about to staunch demand.
The global luxury watch market is valued at US $ 554.3 million in 2020 is expected to reach US $ 7040.5 million by the end of 2026, growing at a CAGR of 3.4% during 2021-2026
High-end watches and jewellery (“hard luxuries”) was the second-best performing category (behind sportswear) in 2020 because of their appeal as investment pieces. “The market capitalization of jewellery and watch specialists was down 7 percent compared to their December 2019 valuations by October 2020
For December, the year-on-year decline was 2.5%. China lead all countries with a spectacular 45.2% growth in exports. It is now the world’s largest market for Swiss watches. The decline in the U.S., the number two market, softened to 2.4% in December. The remaining four largest markets all posted declines, ranging from 19% in Hong Kong to 0.8% in Japan.
“Customers are not traveling or going to restaurants, but they’re eager to purchase a new watch.”
Luxury Watches Show Resiliency In A Difficult Year (forbes.com)
.
It looks like things held up pretty well considering how hard economises have been hit:-
.
Luxury watch sales are showing resilience even as the global coronavirus pandemic continues to rage. Whether new or used, demand for high-priced watches continue to at least keep pace, if not surpass, expectations in some markets.
The luxury watch industry has proved one of the most remarkable excrescences of 21st-century capitalism — it has more than doubled in size to £17 billion since 2000, according to Deloitte — and a global pandemic wasn’t about to staunch demand.
The global luxury watch market is valued at US $ 554.3 million in 2020 is expected to reach US $ 7040.5 million by the end of 2026, growing at a CAGR of 3.4% during 2021-2026
High-end watches and jewellery (“hard luxuries”) was the second-best performing category (behind sportswear) in 2020 because of their appeal as investment pieces. “The market capitalization of jewellery and watch specialists was down 7 percent compared to their December 2019 valuations by October 2020
For December, the year-on-year decline was 2.5%. China lead all countries with a spectacular 45.2% growth in exports. It is now the world’s largest market for Swiss watches. The decline in the U.S., the number two market, softened to 2.4% in December. The remaining four largest markets all posted declines, ranging from 19% in Hong Kong to 0.8% in Japan.
“Customers are not traveling or going to restaurants, but they’re eager to purchase a new watch.”
Luxury Watches Show Resiliency In A Difficult Year (forbes.com)
.
