"Watches in Thailand" Published

For many consumers watches are not only timepieces but also accessories that can make a fashion statement. Watches registered current retail value growth of 9% to reach Bt12.4 billion in 2015. Purchases of products in watches tend to be heavily influenced by brand; most consumers sought their favourite brand to reflect their personal taste. They would be willing to pay money for the brand and model they desired. Moreover, the number of women purchasing watches increased.

Competitive Landscape

International players dominate watches thanks to global brand reputation and the high quality of their products. Due to the popularity of luxury watches, Rolex SA ranked first with 18% of retail value sales in 2014. Rolex is a brand with a long-standing presence in Thailand. Its brand image is strong among upper-income consumers. Swatch Group Trading (Thailand) Ltd ranked second with 9%, followed closely by Seiko (Thailand) Co Ltd.

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Industry Prospects

Watches is expected to register a retail value CAGR of 5% (constant 2015 prices) over the forecast period to reach Bt16.1 billion in 2020. Mid-to-high-income consumers is expected to be the key target group to fuel demand, with mechanical watches – as the largest category – the driver of growth. Men will remain the core consumer group but demand is set to increase among women, as watches gain importance as accessories. On the other hand, product development in watches could be influenced by consumers’ lifestyles. The trend towards healthier lifestyles and spending more time exercising could encourage more brands to develop sports watches offering specific functions such as heart rate monitor, GPS data and distance measurement.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Watches industry in Thailand with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Watches industry in Thailand, our research will save you time and money while empowering you to make informed, profitable decisions.

The Watches in Thailand market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth
* Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

* How do sales of mechanical, quartz analogue and quartz digital watches compare in Thailand?

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