"Watches in Singapore" Published

From: Fast Market Research, Inc.
Published: Mon Nov 23 2015

Value growth in watches slowed in current terms during 2015 compared with 2014, as consumers were increasingly cautious about spending on luxury watches amidst global and local soft economic conditions. In order to combat the slowdown in revenues, luxury watch retailers, including Cortina and The Hour Glass, sought to offer lower priced watch brands at under S$5,000 to attract a new group of consumers. Some luxury watch brands, such as Patek Philippe, reduced their prices during 2015 to increase their attractiveness to consumers.

Competitive Landscape

Swatch Group SEA (S) Pte Ltd led watches in 2014, with a 9% value share, representing a slight gain from 2013. Omega was the key contributor to the company’s increase in value share during 2014, alongside consumers’ willingness to trade up to luxury watch brands for the status and perceived better product quality. Furthermore, Omega continuously invested in marketing campaigns during the year to reinforce consumers’ brand awareness, which was already relatively strong.

Full Report Details at
- http://www.fastmr.com/prod/1072888_watches_singapore.aspx?afid=301

Industry Prospects

Watches are expected to record positive constant value growth over the forecast period, at a stronger pace than in 2015. Projected improvements in global and Singaporean economic conditions in the forecast period will benefit consumers’ disposable incomes, thus increasing their willingness to trade up to luxury watches. Consumers’ brand consciousness will support their penchant to use luxury watches as a status symbol, further increasing their desire to trade up from low- and mid-priced watches.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Watches industry in Singapore 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 Singapore, our research will save you time and money while empowering you to make informed, profitable decisions.

The Watches in Singapore 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 Singapore?
* Which format of watch underpins most sales: casual, formal or sports?
* Which retail channel is showing the most future promise?

About Fast Market Research

Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)

You may also be interested in these related reports:

- Watches in Switzerland
- Watches in Turkey
- Watches in the Netherlands
- Watches in the US
- Watches in Italy

Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001

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