Over the forecast period, continued growth is expected for traditional watches, with increases expected in both retail volume and current value terms, although significant slowdowns are expected compared with the immediate post-pandemic years. Growth is aligned with the ongoing preference for high watches, despite the expectation of unit price inflation, especially in the first half of the forecast period.
With the growth of watch collectors in Singapore, players stand to face an increasing number of players and transactions in the secondary market for luxury/high watches. The second-hand market performed well in 2022, although it showed a similar slowdown to the primary market in 2023.
Across the next five years, traditional and connected watches is set to continue to see growth. However, growth is more likely to be led by connected watches, which is set to boast a double-digit current value CAGR, which is much higher than the single-digit growth expected for traditional watches.
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Understand the latest market trends and future growth opportunities for the Traditional and Connected Watches industry in Singapore with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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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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