The revenue in the 'Luxury Watches' segment of the luxury goods market in Japan was forecast to continuously increase between 2024 and 2028 by in total 0.6 billion U.S. dollars (+17.6 percent). After the eighth consecutive increasing year, the indicator is estimated to reach 4.04 billion U.S. dollars and therefore a new peak in 2028.
Data provided by Statista Market Insights are estimates.
This subsegment contains luxury wristwatches and pocket watches. Also included are smartwatches by the covered luxury brands (the Apple Watch, except for Hermès’ licensed adaptation, is not included). In contrast to the Watches segment in the Consumer Market Outlook’s Accessories market, handmade watches are included here.
The shown market data are based on an analysis of more than 100 of the biggest luxury companies in the world. A complete list of all companies and brands covered can be found in the methodology description. Accordingly, watches from smaller companies or artisanal production unaffiliated with the companies covered are not included. All data are shown at retail value, which includes markups for retail distribution and sales taxes.
Growth in the Luxury Watches category has been stimulated mostly by emerging markets over the past few years, but a dramatic change in consumption habits linked to the anti-corruption campaign in China has put a dent in global sales. Only in 2017 did the segment return to growth, but persisting weak demand in the core markets of the luxury goods industry (North America and Western Europe), as well as the current uncertainty of the world economy at large, and possible future trade barriers indicate a relatively muted outlook for the industry.
eCommerce sales hold a high growth potential, yet they are comparatively underdeveloped in the Luxury Watches segment. The industry has been slow to embrace this sales channel out of an aversion against the high visibility on platforms, whose content the brands cannot completely control, as well as an unwillingness to disrupt the well-functioning distribution structure, which still relies heavily on independent retailers and department stores. This digital space has been explored instead by design-focused online-pure start-up brands in the mid-market to entry-level luxury region, like Sweden’s Daniel Wellington, which use the benefits of social media marketing.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Statista Market Insights. (January 26, 2024). Revenue in the luxury watches segment of the luxury goods market Japan from 2018 to 2028 (in billion U.S. dollars) [Graph]. In Statista. Retrieved August 25, 2024, from https://www.statista.com/forecasts/1436297/revenue-luxury-watches-luxury-watches-jewelry-market-japan
Statista Market Insights. "Revenue in the luxury watches segment of the luxury goods market Japan from 2018 to 2028 (in billion U.S. dollars)." Chart. January 26, 2024. Statista. Accessed August 25, 2024. https://www.statista.com/forecasts/1436297/revenue-luxury-watches-luxury-watches-jewelry-market-japan
Statista Market Insights. (2024). Revenue in the luxury watches segment of the luxury goods market Japan from 2018 to 2028 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: August 25, 2024. https://www.statista.com/forecasts/1436297/revenue-luxury-watches-luxury-watches-jewelry-market-japan
Statista Market Insights. "Revenue in The Luxury Watches Segment of The Luxury Goods Market Japan from 2018 to 2028 (in Billion U.S. Dollars)." Statista, Statista Inc., 26 Jan 2024, https://www.statista.com/forecasts/1436297/revenue-luxury-watches-luxury-watches-jewelry-market-japan
Statista Market Insights, Revenue in the luxury watches segment of the luxury goods market Japan from 2018 to 2028 (in billion U.S. dollars) Statista, https://www.statista.com/forecasts/1436297/revenue-luxury-watches-luxury-watches-jewelry-market-japan (last visited August 25, 2024)
Revenue in the luxury watches segment of the luxury goods market Japan from 2018 to 2028 (in billion U.S. dollars) [Graph], Statista Market Insights, January 26, 2024. [Online]. Available: https://www.statista.com/forecasts/1436297/revenue-luxury-watches-luxury-watches-jewelry-market-japan