Watches in Italy - New Market Research Report

2015 was a positive year for watches in the Italian market, with sales recording 5% current value growth. The category showed a tendency towards polarising demand, favouring high and basic watches, which respectively showed volume growth of 3% and 2% in 2015, at the expense of mid watches. High watches continued to benefit from both wealthy Italians and foreign tourists coming to the country for luxury shopping, and saw growth of 6% in current value terms. On the other hand, basic watches continued to appeal to a higher proportion of consumers who were more affected by the economic crisis, benefiting the performance of basic brands of watches such as Swatch, Casio and OpsObjects.

Competitive Landscape

In Italy, the competitive landscape in watches is highly fragmented, with the top five companies accounting for a combined 33% share of value sales in 2014. The leading company, The Swatch Group, has a broad portfolio of brands, such as Swatch (popular for its affordable range of fun and playful coloured watches sold through a wide distribution network), Omega and Longines. The company continued to lead watches with a 12% value share in 2014, and is present within basic, mid and high quartz analogue and mechanical watches. Cie Financière Richemont ranked second in 2014, accounting for a value share of 7%, and led led high quartz analogue watches, thanks to brands such as Cartier, IWC, Jaeger-LeCoultre and Montblanc (the latter as GBO).

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Industry Prospects

As the Italian economy is likely to show positive GDP growth from 2015, and to perform better in 2016, consumers are also likely to be able to afford more non-essential accessories, such as watches. As a result, over the forecast period watches is set to see a more positive performance than during the review period, with sales set to increase by a value CAGR of 4% at constant 2015 prices. Volume sales are also likely to show a healthy performance, with an expected CAGR of 2%. The best performance is expected to be seen by high quartz analogue watches, which is set to record the highest CAGR in both volume and value terms, as these will continue to be preferred over high mechanical watches for their greater degree of precision.

Report Overview

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

The Watches in Italy market research report includes:

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