Luxury Watches - United Kingdom

  • United Kingdom
  • In the United Kingdom, the revenue generated in the Luxury Watches market reaches a substantial amount of US$2.05bn in 2024.
  • It is predicted that this market will experience a steady annual growth rate of 2.58% (CAGR 2024-2028).
  • When compared globally, in China stands out as the top revenue generator in this segment, with an impressive figure of US$11,120m in 2024.
  • In terms of per capita income, each individual in the United Kingdom contributes US$30.14 to the overall revenue in 2024.
  • The United Kingdom's luxury watch market is experiencing a surge in demand, driven by the country's strong appreciation for craftsmanship and timeless elegance.

Key regions: India, Italy, China, United States, Japan

 
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Analyst Opinion

eCommerce sales have high growth potential, yet they are comparatively underdeveloped in the Luxury Watches segment. The industry has been slow to embrace this sales channel out of an aversion to the high visibility on platforms whose content brands cannot completely control and because of an unwillingness to disrupt the well-functioning distribution structure, which still relies heavily on independent retailers and department stores. Instead, this digital space has been explored by design-focused online-only start-up brands in the mid-market to entry-level luxury region, which use the benefits of social media marketing. An example of this is Sweden’s Daniel Wellington.

Methodology

The Luxury Watches market is built on resources from the Statista platform as well as on in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. We evaluate the status quo of the market, monitor trends, and create an independent forecast regarding market developments of the global Luxury Watches industry.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Sales Channels
  • Global Comparison
  • Methodology
  • Key Market Indicators
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