Global Luxury Watches Market by Type (Men’s Luxury Watches, Women’s Luxury Watches), By Application (Departmental Stores, Exclusive Branded Showrooms, Online Retailing, Specialist Retailers) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global luxury watches market is expected to grow at a CAGR of 5.5% during the forecast period 2018-2030. The market growth can be attributed to the increasing demand for luxury watches from men and women, rising disposable income, and growing awareness about luxury watches. In terms of type, the men's luxury watch segment is expected to dominate the global luxury watches market during the forecast period 2018-2030. This can be attributed to factors such as increasing demand for high-end fashion accessories among men and rising disposable income in developing countries. In terms of application, departmental stores are expected to account for a major share of the global luxury watches market during the forecast period 2018-2030.



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Product Definition:

A luxury watch is a high-end timepiece that is often expensive and has features above and beyond those of standard watches. The term can apply to any type of watch, but it is most commonly used to describe wristwatches. Luxury watches may have complications such as tourbillons, perpetual calendars, or minute repeaters. They are often made from precious metals and gems, and may be encrusted with diamonds or other jewels. Some luxury watches also have extremely intricate mechanical movements that are difficult to replicate.

Men¢â‚¬â„¢s Luxury Watches:

Men's luxury watches are those designed for men by the companies that manufacture women's jewelry, clothing, and accessories. The main difference between a men’s luxury watch and a woman’s jewelry is that while the former can be used by both genders; the latter is only meant to be worn by women. Men's luxury watches are usually more robust than their female counterparts as they have to withstand normal use (wearing) and abuse (being dropped).

Women¢â‚¬â„¢s Luxury Watches:

Women's luxury watches are different from men's luxury watches. Women's luxury watches are smaller, lighter, and designed to fit a woman’s wrist. They usually have lower prices than men’s models and can be used as a fashion accessory as well as for personal use. Some of the popular brands that offer women's luxury watches include Cartier, Rolex, Tag Heuer, Omega De Ville & Deville etc.

Application Insights:

The departmental stores segment accounted for the largest share of more than 50.0% in 2017. Departmental stores are considered to be the most luxurious retail outlets as they offer a complete experience to their customers, from product discovery through to purchase and after-sales services. The presence of various brands in one place is expected to drive demand over the forecast period as consumers can compare different luxury watches and get advice from watch experts on which model suits them best.

The online Retailing segment is projected expand at a CAGR of XX% over the forecast period owing to growing consumer preference for online luxury watch shopping due largelyto convenience coupled with accessibilityof purchasing power that allows buyers from emerging markets such ass Latin America, Asia Pacific.

Regional Analysis:

North America dominated the global market in 2017. The region is expected to retain its dominance over the forecast period as well, owing to high disposable income of consumers and increased spending on luxury goods. Asia Pacific is anticipated to witness significant growth over the next eight years due to increasing purchasing power of consumers and rising awareness about luxury watches in emerging countries such as China, India, Singapore, South Korea & Japan. Furthermore, growing popularity for sports events and concerts will drive demand for expensive timepieces in this region.

The Luxury Goods Trade Association (LGTA) was established by leading industry players including Bulgari Jewelry; Cartier; Chanel; Gucci Handbags International Inc.; Louis Vuitton Malletiers d©cor©e de France S.A.

Growth Factors:

Increasing disposable income of the affluent population: The global luxury watches market is expected to grow at a CAGR of 5.8% during the forecast period, owing to the increasing disposable income of the affluent population. This is mainly because people are now more inclined towards spending on high-end products and services that offer luxury and comfort.
Rising demand for branded watches: The growth in demand for branded watches is another key factor driving the growth of this market. Consumers are now more aware about different brands and their features, which has led to an increase in demand for branded luxury watches across the globe.
Growing popularity of online shopping: The growing popularity of online shopping has also played a significant role in propelling the growth of this market as consumers can easily purchase luxury watches from various e-commerce platforms with just a few clicks..


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Scope Of The Report
Report Attributes
Report Details
Report Title
Luxury Watches Market Research Report
By Type
Men’s Luxury Watches, Women’s Luxury Watches
By Application
Departmental Stores, Exclusive Branded Showrooms, Online Retailing, Specialist Retailers
By Companies
Audemars Piguet, Richemont, Citizen, Dinh Van, Dolce & Gabbana, Giorgio Armani, Hennessy Louis Vuitton, LVMH Moet, Movado, Richard Mille, Audemars Piguet, Swatch Group
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
175
Number of Tables & Figures
123
Customization Available
Yes, the report can be customized as per your need.

Global Luxury Watches Market Report Segments:
The global Luxury Watches market is segmented on the basis of:
Types
Men’s Luxury Watches, Women’s Luxury Watches
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Departmental Stores, Exclusive Branded Showrooms, Online Retailing, Specialist Retailers
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
Audemars Piguet
Richemont
Citizen
Dinh Van
Dolce & Gabbana
Giorgio Armani
Hennessy Louis Vuitton
LVMH Moet
Movado
Richard Mille
Audemars Piguet
Swatch Group



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Highlights of The Luxury Watches Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Men’s Luxury Watches
Women’s Luxury Watches
By Application:
Departmental Stores
Exclusive Branded Showrooms
Online Retailing
Specialist Retailers
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Luxury Watches Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
Identifying Appropriate Advertising Appeals



8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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