close

May data confirms transaction values are rising for online watch sales in Great Britain

GfK watch sales online

The value of online watch sales is rising while the number of units being sold is falling, a combination that can only occur when average transaction values are on the rise.

The data for May from retail analyst GfK shows that the value of online sales rose by 2.6% compared to the same month in 2017. The total number of watches sold online in the month fell by 12.8% in the year.

The research is likely to reflect the growing number of luxury watches being offered for sale online, and the increasing level of comfort among consumers to buy more expensive pieces from the web.

Story continues below
Advertisement

It is the first time that the value of online sales has grown, year-on-year, since October last year.

The May report from GfK shows that the total value of watch sales in Great Britain grew by 4.8% in the month, a return to positive territory after a dip of almost 3% in April.

 

 

The top end of the market is once again the big winner, with sales of watches priced at over £1000 rising by 11.8% in May, while sales of watches costing under £500 were down by 11.1%.

 

 

 

Sales growth in London (+8.6%) is outpacing the rest of Great Britain (+2.3%) in May.

The capital is also accelerating faster than the rest of the country. For the 12 month period of April 2017 to May 2018, London sales rose by 7.4%.

 

 

 

Tags : ecommerceGfKRetail Sales Analysis
Rob Corder

The author Rob Corder

Leave a Response