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Watch sales surge in September — up year on year by over 10 percent

GfK YoY growth in sales – ALL price points

Watch sales surged in September by 10.3% compared to the same month in 2019.

Sales have been improving month on month since non-essential stores were allowed to reopen in June after the covid quarter.

For the year to date, revenue across all price points is now down by just 22.1%, according to data from retail analyst GfK.

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There is gloomier news within the figures, particularly at the lower end of the market. The total volume of watches sold in September was still 19.5% lower than the same month last year, but rising sales of watches priced at over £1,000 rose by 16.7%, compensating for a fall of around 15% for watches priced at under £1,000.

The two speed recovery is underpinned by rising average transaction values, which increased by a dizzying 37% in September.

GfK does not supply WatchPro with a breakdown of sales by all price points, but the rising ATV suggests that sales of very high value watches are distorting the overall pattern across the market.

London’s recovery continues to lag behind the rest of Great Britain, with sales up just 0.9% in September compared to 8.1% for the rest of the country.

Online sales continue to show rapid growth, up 58.7% in September and 37.1% for first nine months of the year.

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Tags : GfKwatch sales
Rob Corder

The author Rob Corder