The total value of watches sold at retail rocketed by 71.5% in June compared to the same month two years’ ago in the pre-pandemic world of 2019.
Data supplied exclusively to WATCHPRO by retail analyst GfK show the power of pent up demand in analysis of the first six months of 2021 when non essential stores were ordered to close from the start of the year to the middle of April.
For the first quarter, the value of watch sales dropped by 19.5% in January, 5.7% in February and 16.7% in March in comparison to the same months in 2019.
With jewellers and watch stores reopening on April 16, there was an immediate positive impact with sales increasing 10% that month.
The first full month of May saw sales surge by 54% compared to two years previously, and the spring back was even more dramatic in June, with sales rising 71.5%.
The top end of the market has been the major driver, with sales in June up by 147% for watches priced at over £10,000.
The average transaction value is 62% higher than a year ago.
