Over the forecast period, although solid retail current value growth rates are set to be maintained for traditional and connected watches in South Korea, retail volume sales are expected to see little movement, with just a slight decline anticipated over the forecast period as a whole. The second-hand market may pose a threat to volume sales of traditional and connected watches.
Traditional watches is expected to see a strong performance in the forecast period, with both retail volume and current value growth anticipated. South Korea is expected to remain a key market for brand owners in traditional watches, as South Korean consumers are often willing to splurge on luxury items if their financial capacity allows.
Appliances and electronics specialists has long been the primary sales channel for connected watches in South Korea, but has been facing increased competition from retail e-commerce, losing value share throughout the review period, with this trend set to continue moving forward. The leading online retailer, Coupang, regularly holds Appliances/Digital Sales Weeks, during which it heavily promotes Galaxy Watches and Apple Watches.
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Understand the latest market trends and future growth opportunities for the Traditional and Connected Watches industry in South Korea 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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