New Market Report: Watches in Australia
New Consumer Goods market report from Euromonitor International: "Watches in Australia"
[UKPRwire, Tue Dec 23 2014] Growth in watches in Australia in 2014 was fuelled by watches in the higher priced segments (mid-high mechanical and mid-high quartz) indicating that consumers have developed an appreciation for higher quality watches. Watches is highly brand-driven, and consumers have become more informed and brand aware aided by the internet, which allows consumers to research products and consult blogs. Consumers are prepared to spend high sums of money for high-quality branded watches, which carry an emotional attachment for the wearer. Watches also benefited from the rise of high net worth individuals in Australia and healthy growth in Chinese tourism, with these tourists looking not just for a holiday but with the intention to buy high-priced watches and other luxury items to escape the tax and import duties they pay in their homeland.
Full Report Details at
Watches in Australia is dominated by international players, which benefit from economies of scale and strong brand awareness. Watches is a very brand driven category and Australian consumers tend to trust international companies as they own recognised brand names and are well-established in the country.
Smartwatches are yet to become mainstream in Australia and these watches have the potential to eat into the sales of watches over the forecast period as consumers are seduced by the new and advanced technology. Australians are quick to adopt new technology as evidenced by the strong growth of smartphones and tablets and they may consider using a smartwatch as an addition to their traditional watch, to allow them to check emails and social media, play video games and even take photographs.
Discover the latest market trends and uncover sources of future market growth for the Watches industry in Australia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Watches industry in Australia, our research will save you time and money while empowering you to make informed, profitable decisions.
The Watches in Australia market research report includes:
* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth
* Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
* How do sales of mechanical, quartz analogue and quartz digital watches compare in Australia?
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