close

British watch market begins 2019 with record January and February sales

All price points

The value of sales for the entire British watch market have risen by 6.5% for the first two months of 2019, according to the latest report from retail analyst GfK.

But the consistent theme of sales values at the luxury end of the market rising while remaining subdued in the sub-£500 sector continues.

Watches priced at over £1000 saw sales growth of 13.3% in January-February, GfK says, but the sub-£500 space endured another decline of almost 7%.

Story continues below
Advertisement

The worst performing price point since the start of the year has been for watches priced between £500 and £1000, which has seen its value fall by 10.2%.

 

 

Unusually, the London market has been outperformed by the rest of Great Britain, with growth of 7.1% for the first two months of the year in London compared to almost 9% in the rest of the mainland.

Online sales appear to have hit a ceiling, with strong growth up until October of 2017 evaporating in the 16 months since and with no sign of it picking up. For the first two months of 2019, the value of online watch sales was down by 2.5% over the corresponding period last year, and the volume of sales was down by more than 10%.

 

 

Tags : GfKmarket researchretail sales
Rob Corder

The author Rob Corder

Leave a Response