The Singaporean market for traditional watches is expected to experience a slowdown in the growth of mid-range timepieces, driven primarily by shifting consumer preferences. While there is a clear trend toward premiumisation and a growing appreciation for superior craftsmanship, many consumers are increasingly gravitating toward more sophisticated, entry-level watch models, where price differences are more pronounced.
The connected watch market is expected to thrive in Singapore over the forecast period, driven by the growing demand for smart wearables and the shift in consumer preferences from traditional watches to high-tech alternatives. These connected devices offer a wide range of capabilities that go far beyond simple timekeeping, addressing consumers’ increasing focus on health, fitness, and connectivity.
The expanding second-hand market poses a significant challenge for luxury watch brands, particularly as millennials and Gen Zs increasingly prioritise sustainability and value for money. These younger consumers are turning to pre-owned timepieces as a more affordable and eco-friendly alternative to buying new.
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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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