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Watch sales dip by 19% in January but ecommerce doubles

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Watch sales in Great Britain fell by 19.1% in January, according to retail analyst GfK.

The performance would have been worse were it not for ecommerce sales rising by 110% compared to January last year.

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The third lock down in England was officially called on January 6, but stores across most parts of Great Britain had not reopened after Christmas as the tier system forced them to close.

Sales registered at stores plunged by over 80% in the first lock down in April and May last year.

It appears retailers have adapted for this third lock down because sales in London were down by just 38.2% and outside London they dropped by 31.4%.

GfK and WatchPro have agreed on a fresh way to present sales by price point from the beginning of this year, with more granular breakdown of sales at prices above £1,000.

The only price point that did not decline in January was for watches priced at over £10,000, which rose by 0.2%.

The value of watches sold for under £500 was down by 34% and the £5,000 to £10,000 sector fell by 20%.

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