Table of Contents
Issues in the Market
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- Main themes
- Definition
- Abbreviations
Insights and Opportunities
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- The big event
- Extreme sports come into their own
- The call to prayer
- Something really special
- Even more desirable gift
Fast Forward Trends
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- User Generated Content
- What’s next?
Market in Brief
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- Vigorous current growth
- Where are the hotspots
- Impact on suppliers
- Looking forward
- A small note of caution
Internal Market Environment
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- Key points
- Form and function
- Fashion and brand
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- Figure 1: Agreement with selected lifestyle statements, 2001-07
- Figure 2: Agreement with selected lifestyle statements, 2007
- The importance of men
- A good gift at any price
- Extending the offer
- Limiting the edition to add value
- Have mobiles done for the watch?
- The real and the counterfeit
Broader Market Environment
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- Key points
- More potential volume
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- Figure 3: Age structure of the UK population, 2003-13
- And more potential for value
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- Figure 4: Forecast adult population trends, by socio-economic group, 2003-13
- But what about the economy?
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- Figure 5: Trends in PDI and consumer expenditure, 2003-13
Competitive Context
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- Key points
- What competes
- So how are sales of jewellery?
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- Figure 6: UK retail sales of watches & jewellery, 2003-08
- Technology, gadgetry, music and more
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- Figure 7: UK retail sles of selected technology products, 2003-07
Strengths and Weaknesses in the Market
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- Strengths
- Weaknesses
Who’s Innovating?
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- Key points
- Breaking boundaries
- Searching beyond
- Novel time watching
- An alternative look at promotions
Market Value and Forecast
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- Key points
- Total sales
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- Figure 8: UK retail sales of watches, 2003-08
- Key indicators mainly positive
- The future
- Forecast
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- Figure 9: UK retail sales of watches, by volume and value, at current and constant prices, 2003-13
- Average price continues to rise
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- Figure 10: Forecast of mainstream and luxury watches, by value and volume, 2008-13
- Mainstream and luxury to grow
- Factors used in the forecast
Segment Performance
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- Key points
- Fashion and excellence – the common threads
- Fashion, style and brand
- Cross-overs
- Current style detail
- Enhancing quality and performance
- Mainstream and luxury
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- Figure 11: UK retail sales of mainstream and luxury watches, by sector, volume and value, 2003-08
- Value outweighs volume
- Luxury on the ascendant
- The technical side
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- Figure 12: UK retail sales of all watches, by movement/display, volume and value, 2003-07
- The classic face
- Alternatives to analogue
- Mechanical resurgence?
- Men, women and children
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- Figure 13: UK retail sales of all watches, by gender, volume and value, 2003-07
- Male attitudes and interests
- Women cover all price points
- Children look and learn
Market Share
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- Key points
- Fragmentation rules
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- Figure 14: Brand shares in the UK watch market, by volume, 2003-07
- The jostle for space continues
- Design development key to performance
- Explanatory note
Companies and Products
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- Seiko Group
- Flagship Seiko moves on up
- Reaching forward
- Pulsar and Lorus add volume
- Sekonda
- Casio
- Accurist
- Timex
- Citizen
- Rotary Watch
- Swatch
- Leading companies in the luxury sector
- Other key companies
- Fossil
- Intercity Watch Company
- Zeon
- Major groups of brands
- LVMH
- Movado Group
- Richemont
- Swatch Group
- Time Products
- Timex Group
Brand Elements
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- Brand Map
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- Figure 15: Attitudes and usage of watch brands, May 2008
- Omega
- What the brand is trying to achieve
- What the consumer thinks
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- Figure 16: Attitudes towards the Omega brand, May 2008
- Swatch
- What the brand is trying to achieve
- What the consumer thinks
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- Figure 17: Attitudes towards the Swatch brand, May 2008
- Raymond Weil
- What the brand is trying to achieve
- What the consumer thinks
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- Figure 18: Attitudes towards the Raymond Weil brand, May 2008
- Seiko
- What the brand is trying to achieve
- What the consumer thinks
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- Figure 19: Attitudes towards the Seiko brand, May 2008
- Calvin Klein
- What the brand is trying to achieve
- What the consumer thinks
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- Figure 20: Attitudes towards the Calvin Klein brand, May 2008
- DKNY
- What the brand is trying to achieve
- What the consumer thinks
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- Figure 21: Attitudes towards the DKNY brand, May 2008
- TAG Heuer
- What the brand is trying to achieve
- What the consumer thinks
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- Figure 22: Attitudes towards the Tag Heuer brand, MAY 2008
- Rolex
- What the brand is trying to achieve
- What the consumer thinks
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- Figure 23: Attitudes towards the Rolex brand, May 2008
- Casio
- What the brand is trying to achieve
- What the consumer thinks
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- Figure 24: Attitudes towards the Casio brand May 2008
- Sekonda
- What the brand is trying to achieve
- What the consumer thinks
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- Figure 25: Attitudes towards the Sekonda brand, May 2008
- Brand qualities of watch brands
- Rolex is king: strongest, most exclusive, aspirational, and reliable.
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- Figure 26: Personality of various watch brands, May 2008
- Experience of watch brands
- Casio is the most popular, Raymond Weil is least familiar
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- Figure 27: Consideration of various watches brands, May 2008
- Brand consideration for watch brands
- Seiko and Casio have the highest levels of consideration
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- Figure 28: Intentions toward various watches brands, May 2008
- Brand momentum for watch brands
- TAG Heuer and Rolex gaining ground; Swatch and Casio are losing it
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- Figure 29: Momentum of various watches brands, May 2008
- Brand satisfaction for watch brands
- Rolex and TAG Heuer rated highest for excellence
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- Figure 30: Satisfaction of various watches brands, May 2008
- Brand commitment to watch brands
- DKNY, TAG Heuer and Rolex achieve overall highest commitment
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- Figure 31: Commitment to various watch brands, May 2008
- Round up
Brand Communication and Promotion
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- Key points
- Ad budgets rising
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- Figure 32: Main monitored media advertising expenditure on watches, 2003-07
- Taking a closer look
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- Figure 33: Main monitored media advertising expenditure on watches, by leading advertisers, 2006 and 2007
- Size speaks
- Media choices and creativity
- The alternatives to above the line
- Sponsors and ambassadors
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- Figure 34: Examples ofambassadors and sponsorship, April 2008
Channels to Market
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- Key points
- Share by category
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- Figure 35: UK retail sales of watches, by outlet type and volume, 2003-07
- Some shifting
- Who’s who among jewellers
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- Figure 36: Leading jewellery multiples, 2008
- A resilient Signet group
- The Baugur presence
- Other multiples
- The potential is there for the independent jewellers
- Argos
- Online growing
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- Figure 37: Online vendors of watches, April 2008
- Expansion and choice
- Fashion and accessory outlets
- Department stores hold on in there
Reasons For Purchasing a Watch
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- Key points
- Recent purchase
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- Figure 38: Reasons for buying a wrist watch, April 2008
- Enduring functionality
- The more considered approach
Attributes Sought When Buying a Watch
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- Key points
- What qualities buyers look for
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- Figure 39: Most important attributes sought when buying a watch, April 2008
- Practicality the first consideration
- How consumers differ
- How consumers differ – age and socio-economic groups
- Change over time
What They Think of Watches
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- Key points
- Key attitudes
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- Figure 40: What they think of wrist watches, April 2008
- Practicality, style and more
- What men and women look for
- What happens with age
- And how the socio-economic groups differ
Consumer Typologies
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- Key points
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- Figure 41: Consumer typologies, April 2008
- Design Led (27%)
- Who they are
- How they buy
- Outfit Enhancers (29%)
- Who they are
- How they buy
- Brand Led (16%)
- Who they are
- How they buy
- Function Focused (28%)
- Who they are
- How they buy
Appendix
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- Advertising data
Appendix – Internal Market Environment
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- Figure 42: Agreement with statement ‘I often wear a valuable watch’, by gender, age and socio-economic group, 2005 and 2007
- Figure 43: Agreement with statement ‘a designer label improves a person’s image’, by gender, age and socio-economic group, 2005 and 2007
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Appendix – Reasons For Purchasing a Watch
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- Figure 44: Watch ownership and purchase, 2005-07
- Figure 45: How much is spent on watches, 2007
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- Figure 46: Reasons for buying a watch, by gender, age and scoio-economic factors, April 2008
- Figure 47: Reasons for buying a watch, by gender, age and socio-economic factors, April 2008
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- Figure 48: Reasons for buying a watch, by Mintel’s Special Groups, region, ACORN categories, technology users, daily newspapers, commercial TV viewing and supermarket used, April 2008
- Figure 49: Reasons for buying a watch, by Mintel’s Special Groups, region, ACORN categories, technology users, daily newspapers, commercial TV viewing and supermarket used, April 2008
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Appendix – Attributes Sought When Buying a Watch
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- Figure 50: Attributes sought when buying a watch, by gender, age and scoio-economic factors, April 2008
- Figure 51: Attributes sought when buying a watch, by gender, age and socio-economic factors, April 2008
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- Figure 52: Attributes sought when buying a watch, by gender, age and scoio-economic factors, April 2008
- Figure 53: Attributes sought when buying a watch, by Mintel’s Special Groups, region, ACORN categories, technology users, daily newspapers, commercial TV viewing and supermarket used, April 2008
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- Figure 54: Attributes sought when buying a watch, by Mintel’s Special Groups, region, ACORN categories, technology users, daily newspapers, commercial TV viewing and supermarket used, April 2008
- Figure 55: Attributes sought when buying a watch, by Mintel’s Special Groups, region, ACORN categories, technology users, daily newspapers, commercial TV viewing and supermarket used, April 2008
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- Figure 56: Attributes sought when buying a watch, by Mintel’s Special Groups, region, ACORN categories, technology users, daily newspapers, commercial TV viewing and supermarket used, April 2008
- Figure 57: Product attributes sought when buying a watch, 2003, 2005 and 2008
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- Figure 58: Number of attributes sought when buying a watch, April 2008
- Figure 59: Number of attributes sought when buying a watch, by gender, age, socio-economic factors, ACORN categories, TV viewing, region, daily newspapers, and supermarkets used, April 2008
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Appendix – What They Think of Watches
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- Figure 60: What they think of watches, by gender, age and socio-demographic factors, April 2008
- Figure 61: What they think of watches, by gender, age and socio-demographic factors, April 2008
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- Figure 62: What they think of watches, by Mintel’s Special Groups, region, ACORN categories, technology users, daily newspapers, commercial TV viewing and supermarket used, April 2008
- Figure 63: What they think of watches, by Mintel’s Special Groups, region, ACORN categories, technology users, daily newspapers, commercial TV viewing and supermarket used, April 2008
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- Figure 64: What they think of watches, by Mintel’s Special Groups, region, ACORN categories, technology users, daily newspapers, commercial TV viewing and supermarket used, April 2008
- Figure 65: Consumer groups, by gender, age, socio-demographic factors, ACORN categories, TV viewing, region, daily newspapers and supermarket used, April 2008
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- Figure 66: Consumer typlogies, by attitude statements, April 2008
- Figure 67: Consumer typologies, by reasons for buying a wristwatch, April 2008
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- Figure 68: Consumer typologies, by attributes sought when buying a wristwatch, April 2008
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