Certified Watch Store Analyzes Trends Expected to Shake Up 2020 to 2025 Global Watch Market
Industry: Lifestyle
Projections suggest growth at a CAGR of 4.10-percent during forecast period; lower-priced and mid-priced watches increasingly gaining market traction due to demand for “value-for-product” items.
Somerset, NJ (PRUnderground) August 7th, 2020
Representatives of Certified Watch Store, a Somerset, New Jersey-based online retailer of luxury discount watches for men and women, recently analyzed trends expected to shake up the 2020 to 2025 global watch market, which is projected to grow at a CAGR of 4.10-percent during this forecast period. The global watch market is comprised of a range of products, including analog and digital watches, and reports are regularly released which study the market fragmented by price range, market revenue of distribution channels (online/offline retail stores) and global level analysis of major regions including North America, Europe, Asia-Pacific, South America and the Middle East/Africa.
According to the data analyzed by Certified Watch Store, the disposability and affordability of value watch brands make them a popular fashion choice among consumers across the globe, with lower-priced and mid-priced watches increasingly gaining market traction due to a rising demand for “value-for-product” items and accessories among women.
Further, the demand for digital watches appears to be stronger among young consumers, as they are more heavily invested in smartphone technology, with popular brands like Casio and Timex having launched their own product lines encompassing G-Shock and Command Watch collections. What’s more, according to Certified Watch Store’s research, brands like Casio and Timex are continuously investing in research and development for product innovations to fuse features of smartwatches with the long-lasting battery life of digital watches – all while offering the products in attractive aesthetics coupled with affordable price tags.
“The increase in health awareness among consumers across the globe has resulted in increased consumer spending on health-monitoring gadgets, and this has further lead to the increased sales of smartwatches, as they boast a wide range of monitoring functionalities that enable users to control music, notifications, walk tracks, heart rates and other elements,” explains a Certified Watch Store company spokesperson. “Additionally, we are keeping an eye on China, as it’s one of the most competitive markets in the world, offering huge potential for the manufacturers of luxury watches to compete – from Rolex and Omega to Patek Phillippe, Cartier, Channel, Longines, Tissot, Rado, Blancpain and Piaget.”
In addition to watches, Certified Watch Store (https://www.certifiedwatchstore.com) offers the fashion world’s finest selections of designer handbags, sunglasses and jewelry.
About Certified Watch Store
We pride ourselves on our ability to source and deliver authentic luxury goods at phenomenal prices. Our goal is to earn our customers’ trust and complete satisfaction.
