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British watch sales bounce in June with luxury leading the way

GfK YoY growth in sales – various price points

Britain’s watch shops have reported a dramatic month-on-month rise in sales for June, according to the latest data from retail analyst GfK.

Watch sales across all price points in Great Britain plunged by 83% in April, compared to the same month in 2019, and by 79% in May.

In June the year-on-year drop was down to just 18.1%, despite non essential retailers being permitted to reopen only on June 15 in England, June 22 in Wales and June 29 in Scotland.

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GfK does not track retail sales for watches in Northern Ireland.

London remains the hardest hit market as overseas visitors have not arrived. Sales were down 40% in June, while the rest of Great Britain was down by just 18.4%.

Online sales growth slowed a little from May to June, but remains 55.5% higher than the same month a year ago.

Luxury watches priced at over £1,000 saw the strongest rebound from May’s -87% to -11% in June.

The June result will have been flattered by customers collecting watches at stores as they reopened that had been ordered during the lock down.

Many retailers have not been reporting sales for brands like Rolex — which cannot be sold online but have been ordered directly over the phone — until they are collected at stores.

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Tags : GfKretail saleswatch sales
Rob Corder

The author Rob Corder