The traditional watch market in Canada is forecasted to see marginal value growth across the forecast period, however, retail volume growth is set to decline. This trend is particularly pronounced in mid watches, while high watches will have stable retail volume sales, driven by high mechanical watches.
Over the forecast period, the watch market is expected to become more polarised, with the middle price categories being squeezed by consumers either trading up to high-end watches or trading down to basic models. In addition, the continued growth of smartwatches such as the Apple Watch and Samsung Galaxy Watch, which offer value-added features like health monitoring and seamless connectivity, will further contribute to this market division.
While there are no significant shifts expected in the retail channels for watches across the forecast period, e-commerce and omnichannel strategies will continue to play an important role in the overall retail landscape. Consumers are increasingly seeking a seamless brand experience, both online and in-store, and appreciate the convenience of features like in-store pickup for retail e-commerce orders.
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Traditional and Connected Watches
This report originates from Passport, our Traditional and Connected Watches research and analysis database.
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