With Rolex SA, The Swatch Group Ltd, Cie Financière Richemont SA, and Patek Phillippe SA occupying the top four spots in the ranking in traditional watches in global brand owner terms, and together accounting for more than 50% of overall value sales of traditional watches in the UK in 2023, Swiss brands continue to dominate the category in the UK market. This is due to the crucial role Swiss watch companies played in the development of high watches from a technical and aesthetic perspective, and their expansion as a global symbol of quality and excellence.
During the forecast period, it is expected that traditional watches will continue to expand in current value terms, driven by high watches categories, particularly high mechanical watches. However, it is also anticipated that volume sales will continue to be challenged by the second-hand market, which keeps expanding globally, including in the UK.
Despite the current economic situation and the ongoing rise in the cost of living in the UK, connected watches kept expanding in volume and current value terms in 2022, and this is set to continue in 2023. This growth is mainly attributed to two categories: analogue activity watches, and smart wearables.
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Understand the latest market trends and future growth opportunities for the Traditional and Connected Watches industry in United Kingdom with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Traditional and Connected Watches
This report originates from Passport, our Traditional and Connected Watches research and analysis database.
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