Watches Market Insight

China has established itself as a prominent hub for the watch industry, hosting several renowned watch fairs and exhibitions. These events serve as pivotal platforms for watch enthusiasts, retailers, and brands to explore the latest trends, network with industry experts, and discover potential suppliers.

In this section, we delve into the significance of China’s watch fairs and how they can be instrumental in your watch sourcing journey.

here’s a list of some well-known watch fairs in China:

• China Watch & Clock Fair (CWCF)
• Shenzhen Watch & Clock Fair
• Hong Kong Watch & Clock Fair (although technically in Hong Kong, it’s in close proximity to mainland China and is a significant event for the industry)
• Shanghai Watch Fair
• Beijing Watch Fair
• Guangzhou Watch Fair

These fairs are instrumental in the watch industry and offer excellent opportunities for sourcing and networking within the watch business.

Top Watch Fairs In China

• The China Watch & Clock Fair (CWCF): As one of the largest watch fairs in Asia, the CWCF draws exhibitors and attendees from around the world. It showcases a diverse range of watch styles, from luxury timepieces to affordable fashion watches.
• Shenzhen Watch & Clock Fair: Known as one of the most influential watch events in China, the Shenzhen Watch & Clock Fair specializes in showcasing cutting-edge technologies and innovations in the watch industry.

 

Key Benefits of Attending China’s Watch Fairs

• Exposure to a Wide Range of Suppliers: These fairs bring together a multitude of watch suppliers, making it a one-stop destination to explore a diverse array of products.
• Networking Opportunities: China’s watch fairs offer unparalleled networking opportunities, allowing you to connect with watch manufacturers, designers, and other industry professionals.
• Insights into Market Trends: Stay updated on the latest market trends, technological advancements, and consumer preferences by attending seminars and presentations at these fairs.
• Hands-on Experience: Get a firsthand look at the quality and craftsmanship of watch products, enabling you to make informed decisions about potential suppliers.
• Negotiation Advantage: Face-to-face interactions with suppliers often provide a negotiation advantage, allowing you to discuss pricing, bulk orders, and customization options.

 

Tips for Maximizing Your Experience at China’s Watch Fairs

• • Preparation is Key: Research the fair’s exhibitors, layout, and schedules in advance to make the most of your time.
  • Check the Quality/ buy sample: Get to know your watch supplier by verifying their quality, this is the fastest way, also in China watch fairs, It’s allow you to buy samples directly. Try it.
  • Bring Your Business Cards: Networking is essential; ensure you have a stack of business cards to exchange with potential suppliers and partners.
  • Engage in Conversations: Don’t hesitate to strike up conversations with exhibitors and fellow attendees. You may discover valuable insights or partnership opportunities.
  • Take Notes and Catalogs: Carry a notebook to jot down important details and collect catalogs from suppliers for reference.

How to Communicate with China Watch Fair Suppliers?

Talking with watch fair suppliers is a crucial part of your interaction when attending a watch fair in China. Effective communication can help you establish valuable connections and gather essential information. Here are some tips on how to talk with watch fair suppliers:

• Research in Advance: Before attending the fair, research the suppliers and exhibitors who will be present. Identify the ones that align with your business needs and objectives.

• Prepare Your Questions: Have a list of questions ready. These questions could be about their product range, manufacturing capabilities, quality control processes, lead times, and pricing.

• Engage Actively: Approach suppliers with a friendly and professional demeanor. Smile, make eye contact, and give a firm handshake when appropriate. Engage in small talk to build rapport before diving into business discussions.

• Introduce Your Business: Start the conversation by introducing your own business, its goals, and what you are looking for at the fair. This helps suppliers understand your needs better.

• Ask About Their Offerings: Inquire about the products they offer. Ask for details about materials, designs, and any unique features. Seek to understand how their products can benefit your business.

• Quality Assurance and Certifications: Ask about their quality control processes and any certifications they hold. This is crucial for ensuring the quality of the products you intend to source.

• Pricing and MOQ (Minimum Order Quantity): Discuss pricing structures and MOQs. Be clear about your budget and quantity requirements. Negotiate prices if necessary, but do so respectfully.

• Lead Times and Delivery: Understand their lead times and delivery schedules. This is important for planning your inventory and ensuring timely product availability.

• Samples and Catalogs:Request product samples and catalogs for your reference. These materials can help you make informed decisions and compare different suppliers.

• Language Considerations: If you don’t speak Mandarin Chinese, consider bringing a translator or utilizing translation apps to facilitate communication. Many suppliers may have English-speaking representatives as well.

• Take Notes: Jot down key information during your discussions. This will help you keep track of different suppliers’ offerings and details.

• Exchange Contact Information: Before concluding your conversation, exchange contact information, including business cards. This allows you to follow up after the fair.

• Be Respectful of Their Time: Remember that suppliers may be interacting with numerous attendees. Be respectful of their time and avoid monopolizing their attention if the conversation is not relevant to your needs.

• Follow-Up After the Fair: After the fair, follow up with the suppliers you are interested in working with. Send them emails or make phone calls to continue discussions and finalize agreements.

Remember that building relationships with suppliers takes time, so approach conversations with patience and a genuine interest in finding the right partners for your watch business.

 

More Benefits of attending the China’s Watch Show

China’s watch fairs stand as multifaceted events that cater not only to watch manufacturers but also to watch component suppliers, middlemen, distributors, and even renowned watch brands. These exhibitions serve as pivotal gatherings in the world of horology, offering a wide array of opportunities and resources for industry professionals. Let’s delve deeper into the diverse facets of China’s watch fairs:

Inclusive Participant Pool: China’s watch fairs boast a diverse participant pool. While watch manufacturers showcase their latest creations and innovations, a significant presence is also maintained by watch component suppliers who provide essential parts and mechanisms for the watchmaking process. Furthermore, middlemen, traders, and even established watch brands participate actively in these events. This eclectic mix of participants makes China’s watch fairs a one-stop destination for the entire spectrum of the watch industry.

Beyond Sourcing: Attending these fairs goes far beyond merely finding new suppliers. They serve as windows into the ever-evolving watch market. Suppliers often use these events to showcase their latest and most exceptional products, allowing attendees to gain firsthand insight into the newest trends, designs, and technological advancements in the watch industry.

Assessment of Supplier Strength: Participation in these fairs is not to be taken lightly. The costs associated with setting up an exhibition booth at a major Chinese watch fair can range from tens of thousands to several hundred thousand dollars. This significant investment means that participating suppliers are often well-established and financially robust. Their presence at these fairs is a testament to their commitment to the industry.

Local and International Blend: While local suppliers primarily dominate these fairs, they are increasingly attracting international attention. This international flavor is a testament to China’s growing importance in the global watch industry. Attendees from around the world converge at these fairs to explore business opportunities and discover unique watchmaking talents.

Opportunities for Company Visits: For those who have the opportunity and the time, it’s possible to arrange visits to the manufacturing facilities of the exhibiting suppliers. This allows for a more in-depth understanding of their production processes, quality control measures, and overall capabilities.

Given the rich diversity of participants, the showcase of cutting-edge products, and the networking opportunities, it’s advisable to allocate sufficient time and resources when planning a trip to China for these watch fairs. This ensures that you can fully capitalize on the multifaceted opportunities they present.

 

Conclusion:

China’s watch fairs play a pivotal role in the global watch industry, offering many opportunities for sourcing high-quality timepieces, establishing valuable connections, and staying informed about market developments. By strategically participating in these fairs, you can position your brand for success in the competitive world of watch retail and distribution.

When selecting a watch brand, style, and model, do you find yourself overwhelmed by the choices? This is because there are numerous watch brands available. However, many of these brands are part of the 4 major watch Giant Companies。

The 4 biggest watch giants Companies in the world, are Switzerland’s Swatch Group, the Rolex Group, the Swiss’s Richemont Group, and France’s Louis Vuitton (LVMH) Group.

We’ll take a closer look at the strategies they use, their diverse products, and the core philosophies behind their brands to see what sets each one apart in shaping the industry.

 

What Are the Big 4 Watch Brands?

At present, the amount of sales of high-end wristwatches is still Rolex, Richemont, Swatch and Louis Vuitton’s world ranking is far ahead. The watch exports of the Rolex, Swatch, and Richemont groups already account for more than 80% of all Swiss watch exports.

 

会社 & Brand Profile of the Four Watch Giants

1. Richemont Group

Richemont is a Swiss luxury goods company that was established by South African billionaire Anton Rupert in 1988. The company’s business covers four main areas: jewelry, watches, accessories, and fashion.

Watches are just one of the company’s business areas, as the group covers tobacco, fashion, leather goods, writing instruments, etc. Richemont’s watch brands are mostly top-of-the-line and are compatible with German, Swiss, Italian, and French brands.

Richemont considers itself the leader in watches for good reason, with a market share second only to the Swatch Group. Its Vacheron Constantin, Jaeger-LeCoultre, Panerai, Cartier, and Universal are very high visibility, while Jaeger-LeCoultre for the group provides some movements and technical support,

Piaget was the earliest development of the Swiss manufacturers of electronic quartz movement, but Switzerland’s few manufacturers continue to produce quartz movement in the field of the movement to specialize in ultra-thin movement., Piaget’s unique German style and the production of the perpetual calendar in the industry is also very famous! Piaget’s unique German style and perpetual calendar production are also famous in the industry.

• Cartier
• IWC Schaffhausen
• Jaeger-LeCoultre
• Panerai
• Piaget
• Vacheron Constantin
• Montblanc
• Baume & Mercier
• Roger Dubuis
• Van Cleef & Arpels (also known for jewelry)

2. Rolex

Recognized universally, Rolex is synonymous with luxury and reliability in timekeeping. It has remained an independent company with a reputation for high-quality craftsmanship and iconic designs such as the Submariner, Daytona, and Oyster Perpetual.

• Rolex
• Tudor

Both brands hold a very prestigious reputation and position in the global watch market.

 

3. LVMH (Louis Vuitton Moët Hennessy)

LVMH is the world’s largest luxury goods group, formed in 1987 by Bernard Arnault’s merger of Louis Vuitton, the world-famous leather goods company, and Moët Hennessy, the wine family, with more than 50 brands.

Involved in areas such as liquor, fashion, leather goods, cosmetics, watches, and jewelry, the LVMH Group is the world’s fourth-largest watch manufacturer.

Compared to Richemont and Swatch Group, LVMH’s main focus is not on the watch industry, and even if this is just a branch of their business, they have managed to jump to the top four groups

LVMH, founded in 1987, stands as a global luxury conglomerate with an unparalleled reputation for premium goods. LVMH is a conglomerate of luxury brands, known for its iconic fashion, jewelry, and watch brands like Louis Vuitton, TAG Heuer, and Bulgari.

LVMH blends traditional craftsmanship with contemporary innovation, offering a range of timepieces that cater to diverse tastes and preferences. With a focus on exclusivity and exceptional quality, LVMH’s watches often reflect the essence of timeless elegance.

Watches from LVMH brands are often positioned as high-end products, incorporating precious materials, advanced watchmaking technology, and meticulous design.

• Hublot: Founded in 1980, Hublot is well-known for its innovative use of materials and distinctive design philosophy.
• Zenith: Established in 1865, Zenith is renowned for its precision and craftsmanship in watchmaking.
• TAG Heuer: Started in 1860, TAG Heuer is famous for its ties to auto racing and chronograph watches.
• Dior Watches: Although Dior, founded in 1946, is primarily known for luxury fashion, its watch division creates high-fashion timepieces complementing its clothing lines.
• Fred: Founded in 1936 as a jewelry brand, Fred also includes watches that blend jewelry craftsmanship with timekeeping.
• Chaumet: Established in 1780, Chaumet, a jewelry house, offers luxurious timepieces that showcase its heritage in jewelry excellence.
• Bvlgari: Since 1884, Bvlgari has been recognized for its bold jewelry and also offers watches that reflect its luxury style.

• Dior was founded in 1946, not 1985.
• Louis Vuitton (LV), mentioned in the inquiry, is known for luxury goods, including fashion and leather goods, and has expanded into watches. It was founded in 1854.
• Brands like Dior, LV, Bvlgari, and others you mentioned diversify their legacy of luxury through both high-end jewelry and fashion watches designed to complement wardrobe choices, marking them as fashion-forward pieces with a focus on aesthetic appeal.

 

4. Swatch Group

In 1985, the legendary Nicolas G. Hayek, after reorganizing Asuag and SSIH for more than four years, ultimately led to the merger of the two watch companies to form the Swatch Group.

The Swatch Group is the world’s largest watch manufacturer and distributor, and the only luxury goods group to specialize in watches. The Swatch Group has 160 manufacturing centers around the world and accounts for 25% of the world’s watch market in terms of retail sales.

Swatch Group has reshaped the watch industry through its diverse portfolio of brands. Swatch Group with several large groups is different, for all kinds of people to launch a different price point of the brand, it is known for its range of affordable and stylish watches, such as Tissot, Medo, Longines to go is the pro-people route. encompassing brands, From the playful Swatch to the precision of Omega and the prestige of Breguet, Swatch Group covers an extensive spectrum.

Renowned for its technical expertise and Swiss watchmaking heritage, the group has consistently pushed the boundaries of innovation while maintaining a strong connection to tradition.

It caters to both fashion-conscious and sports-oriented consumers, offering a mix of price points and styles.

1. OMEGA
2. Breguet
3. Blancpain
4. Jaquet Droz
5. Glashutte Original
6. Leon Hatot
7. Swatch
8. Longines
9. Rado
10. Tissot
11. Calvin Klein
12. Certina
13. Mido
14. Hamilton
15. Pierre Balmain
16. Flik Flak
17. Laco
18. Endura

Tissot offers a balance of style and affordability, appealing to those seeking quality Swiss watches. Longines, with its heritage and elegance, caters to a more classic and sophisticated audience. In the luxury segment, Omega and Breguet represent the pinnacle of Swiss watchmaking.

Swatch specializes in a variety of watches, including colorful and playful Swatch watches, classic Tissot timepieces, and high-end luxury watches under brands like Omega and Longines.

• Swatch offers a broad range of price points, starting from affordable Swatch watches to high-end luxury watches from brands like Omega.

 

Innovation and Technology of the 4 Watch Giants

Richemont

1. Materials Innovation: Richemont brands are known for their exploration and adoption of advanced materials. For instance, IWC Schaffhausen has integrated the use of Ceratanium® in their watch cases, combining the best properties of titanium and ceramic to offer remarkable durability and scratch resistance. Similarly, Panerai has introduced materials like Carbotech™ and BMG-Tech™, pushing the envelope in terms of aesthetics, durability, and lightweight properties.
2. Horological Innovations: Richemont brands have been pioneers in the development of horological innovations to improve the accuracy, functionality, and reliability of their timepieces. For example, Cartier’s development of the mystery clock and its more recent mystery movements in watches where the hands appear to float without any connection to the movement are feats of engineering. Jaeger-LeCoultre’s Gyrotourbillon offers a multi-axis tourbillon that compensates for errors in timekeeping due to gravity in all positions.
3. Sustainability Efforts: Across its portfolio, Richemont has increasingly integrated sustainability into its innovation strategy. Brands like Van Cleef & Arpels and Cartier are committed to responsibly sourced materials, including diamonds and gold. These efforts extend to reducing environmental impact through energy-efficient manufacturing processes and sustainable packaging solutions.
4. Digital Transformation: Richemont has actively embraced digital innovation to enhance customer experiences and operational efficiency. This includes the development of advanced e-commerce platforms, the use of virtual reality (VR) and augmented reality (AR) in product presentation and customer service, and the adoption of blockchain technology for product authentication and supply chain transparency. The acquisition of online platforms like Watchfinder & Co. reflects Richemont’s strategy to strengthen its position in the digital space.
5. Research & Development: Through dedicated R&D efforts, Richemont brands foster innovation in watchmaking and jewelry. This includes the invention of new mechanical movements, development of novel jewelry settings that offer both aesthetic appeal and functionality, and the exploration of cutting-edge manufacturing techniques.
6. Collaborations and Partnerships: Richemont has engaged in collaborations and partnerships with technology companies and startups to explore new avenues for innovation. Whether it’s through the integration of smart technology into traditional watchmaking or exploring new retail technologies, these collaborations keep Richemont at the forefront of innovation in the luxury sector.
7. Watchfinder & Co.: Recognizing the potential in the pre-owned watch market, Richemont acquired Watchfinder & Co., which leverages data analytics and technological solutions to authenticate and refurbish pre-owned watches, ensuring their quality and reliability.

 

Rolex

 

1. Oyster Case (1926): Rolex introduced the world’s first waterproof wristwatch case called the “Oyster.” This innovation provided the watch with superior protection against water and dust, greatly enhancing durability and reliability.
2. Perpetual Movement (1931): Rolex unveiled the first self-winding wristwatch mechanism with a perpetual rotor. This technology allowed the watch to be powered by the wearer’s movements, eliminating the need for manual winding.
3. Datejust (1945): The Rolex Datejust was the first wristwatch to feature a date function that automatically changed at midnight. This innovation was significant as it improved timekeeping convenience and functionality.
4. Submariner (1953): The Rolex Submariner was introduced as the first wristwatch waterproof to a depth of 100 meters (330 feet). Over the years, Rolex has continued to improve its water-resistant technology, with some models now waterproof to a depth of 3900 meters (12,800 feet).
5. GMT-Master (1955): The GMT-Master was developed to meet the needs of international pilots. It featured a 24-hour display fourth hand and a rotating bezel, allowing wearers to read the time in two different time zones simultaneously.
6. Day-Date (1956): Rolex introduced the first wristwatch that displayed both the date and the day of the week spelled out in full. This was particularly useful for international business and diplomatic activities.
7. Oysterquartz (1970s): In response to the quartz crisis, Rolex developed its own quartz movements for the Oysterquartz models. These were some of the most accurate quartz watches due to their high-quality quartz movements.
8. Materials Innovation: Rolex has also excelled in materials innovation, developing its own alloys such as 904L stainless steel, which offers higher resistance to corrosion, and Rolesor, a combination of 904L steel and 18kt gold. Additionally, Rolex developed Cerachrom bezels, made from a hard ceramic material that is resistant to scratching and fading.
9. Parachrom Hairspring and Paraflex Shock Absorber: Rolex developed the Parachrom hairspring, which is highly resistant to shocks and magnetic fields, enhancing the movement’s accuracy and reliability. The Paraflex shock absorber increases the movement’s shock resistance.

LVMH

LVMH’s commitment to innovation is evident through its watch brands that push the boundaries of technology. TAG Heuer’s “Connected” series exemplifies LVMH’s foray into smartwatches, seamlessly merging luxury with digital functionality.

Zenith’s “Defy” line showcases advancements in precision through high-frequency movements, while Hublot’s “Art of Fusion” philosophy combines traditional watchmaking with avant-garde materials like ceramic, carbon, and sapphire. These innovations reinforce LVMH’s position as a trailblazer in merging luxury with cutting-edge technology.

LVMH’s brands, such as TAG Heuer, are known for innovation, incorporating advanced materials and technologies like tourbillons and chronographs into their luxury timepieces.

 

Swatch Group

Swatch Group’s emphasis on innovation can be seen through its advancements in materials and movements. Swatch’s playful designs are complemented by innovations in lightweight plastic cases and creative dial designs. Omega’s “Master Chronometer” certification highlights the precision and anti-magnetic properties, while Breguet’s technical prowess includes high-frequency movements and intricate tourbillons.

Swatch Group’s technological innovations uphold Swiss watchmaking’s reputation for precision and reliability.

Swatch is known for introducing innovative materials and technologies, including automatic movements, colorful designs, and limited-edition releases.

Check their website to get more information: https://www.swatchgroup.com/en/swatch-group/innovation-powerhouse

Each of these watch industry leaders demonstrates a distinct approach to innovation and technology, influencing the evolution of horology by embracing new materials, movements, and functionalities.

 

Market Presence of the 4 Watch Giants (Retail and Distribution Strategies)

Check their global market presence of each company, including market share, geographical reach, and their influence on the watch industry.

Check how each company approaches distribution and retail, including its online presence, brick-and-mortar stores, and engagement with consumers.

Richemont

 

Rolex

 

 

LVMH

Swatch Group

Swatch Group adopts a multi-tiered distribution approach to cater to different market segments. Brands like Swatch have a wide retail presence, with standalone stores in shopping centers and high-traffic areas.

Omega, Longines, and Tissot maintain a combination of boutiques and authorized dealers, offering customers an opportunity to explore the brand’s offerings in diverse settings. This strategy allows Swatch Group to balance luxury boutique experiences with broader accessibility.

Swatch Group’s market presence is characterized by a diverse brand portfolio catering to different market segments. The approachable Swatch brand has a wide reach, with stores in urban centers and malls, targeting fashion-conscious individuals.

Longines and Tissot have a global footprint, appealing to those seeking Swiss quality at various price points. Omega’s association with sports, space exploration, and high-profile events solidifies its status in the luxury watch market.

These companies’ diverse strategies contribute to their distinct market presences, ranging from luxury exclusivity to widespread accessibility, each catering to different consumer demographics and preferences.

Brand Image of the 4 Watch Giants

LVMH:

LVMH’s watch brands are characterized by their commitment to luxury and elegance. The design philosophy revolves around timeless aesthetics, exquisite craftsmanship, and attention to detail. TAG Heuer embodies sportiness and precision, often incorporating bold and dynamic elements into its designs.

Zenith captures classic sophistication through its clean lines and refined dials. Hublot’s avant-garde “Art of Fusion” approach merges traditional watchmaking with modern materials, resulting in bold, statement-making timepieces. Overall, LVMH’s watch brands convey an image of opulence and exclusivity.

LVMH’s watch brands are associated with prestige, luxury, and a sense of heritage. They appeal to consumers seeking status and elegance.

 

Swatch Group:

Swatch Group’s brand image varies across its diverse portfolio. Swatch stands for colorful creativity and affordability, appealing to the fashion-conscious and young at heart.

Tissot showcases a blend of style and value, catering to those seeking quality Swiss watches without the luxury price tag.

Longines exudes elegance and heritage, reflecting a classic aesthetic with a touch of modernity.

Omega signifies precision, innovation, and a connection to exploration and iconic events like the Olympics and space missions.

Breguet embodies timeless elegance and intricate craftsmanship, appealing to connoisseurs of horological artistry.

Swatch is synonymous with colorful and playful designs, appealing to consumers looking for affordable yet stylish timepieces.

 

Brand Portfolio of the 4 Watch Giants

Discuss the various watch brands owned by each conglomerate, highlighting the uniqueness and individuality of each brand under the larger umbrella.

LVMH

LVMH’s watch division encompasses a range of prestigious brands, each with its own identity and appeal.

1. TAG Heuer, renowned for its precision and sporty aesthetics, targets enthusiasts of motorsports and athletics。
2. Zenith, a beacon of Swiss watchmaking excellence, offers classic and refined timepieces for aficionados of timeless elegance.
3. Hublot, known for its fusion of luxury and modern materials, captures attention with its bold and avant-garde designs.

These distinct brands within LVMH’s portfolio cater to a diverse audience, covering various style preferences and luxury levels.

 

Swatch Group:

The Swatch Group’s brand portfolio is a symphony of diversity, catering to a broad spectrum of consumers. Swatch, celebrated for its colorful and affordable designs, captures the youthful and fashion-forward market.

1. Tissot strikes a balance between style and value, appealing to those seeking quality Swiss watches.
2. Longines embodies timeless elegance with a modern touch, targeting individuals who appreciate classic sophistication.
3. Omega, with its legacy of precision and innovation, caters to luxury enthusiasts, while Breguet epitomizes horological craftsmanship and heritage for connoisseurs seeking artistic masterpieces.

 

In summary, LVMH, Fossil, and Swatch cater to different segments of the watch market, with varying brand positioning, product ranges, and price points. Understanding these differences can help you position your watch manufacturing business effectively within the broader landscape of the watch industry.

 

Influential Collaborations and Partnerships of the 4 Watch Giants

Showcase notable collaborations and partnerships that have helped these companies gain visibility and connect with different consumer segments.

LVMH (Moët Hennessy Louis Vuitton): LVMH’s watch brands have engaged in partnerships that blend luxury with various industries.

TAG Heuer partnered with Intel and Google to create the TAG Heuer Connected smartwatch, fusing Swiss craftsmanship with cutting-edge technology.

Hublot collaborated with Ferrari, resulting in timepieces that embody the spirit of high-performance racing.

Zenith celebrated its 50th anniversary of the iconic El Primero movement with a collaboration with Phillips Auction House, creating a limited edition series of watches that merged horological heritage with collectible appeal.

Swatch Group: Omega has a storied history of collaborations, notably with NASA for the Moonwatch worn during moon landings. The brand’s partnership with the James Bond film franchise has solidified its association with sophistication and spy-worthy gadgets.

Longines is the official timekeeper for equestrian events and has collaborated with the equestrian world through various competitions. Tissot’s partnership with the NBA reflects its commitment to precision and sportsmanship, producing special edition watches for basketball fans.

Influential collaborations and partnerships have allowed these companies to tap into different industries, extending their brand reach and offering unique, limited-edition timepieces that capture the essence of their respective collaborations.

 

 

Sustainability Initiatives

Investigate the sustainability efforts undertaken by these industry leaders, including their approaches to responsible sourcing, manufacturing practices, and environmental impact.

 

LVMH (Moët Hennessy Louis Vuitton):

LVMH places emphasis on sustainability across its watch brands. TAG Heuer introduced the “Green Heuer” initiative, focusing on reducing the brand’s carbon footprint and incorporating eco-friendly materials. Zenith prioritizes responsible sourcing of materials, aiming to minimize environmental impact.

Hublot is committed to ethical gold sourcing and sustainable manufacturing processes. LVMH’s overarching commitment to sustainability is evident in its efforts to reduce waste, energy consumption, and environmental footprint throughout its watch production.

 

Swatch Group:

Swatch Group integrates sustainability into its watch brands through various initiatives. Omega is actively involved in marine conservation efforts, partnering with organizations like the GoodPlanet Foundation. Tissot focuses on responsible manufacturing and sustainable packaging, while Longines has initiatives to support equestrian sports and animal welfare.

Swatch Group’s commitment to sustainability is evident in its participation in ethical practices and its drive to contribute positively to society and the environment.

These companies are actively engaged in sustainability initiatives, demonstrating their commitment to environmental responsibility and ethical practices in the watch industry.

 

Consumer Perception and Loyalty:

Discuss the reputation of each company among consumers, brand loyalty, and the factors that contribute to their perceived value in the market.

 

LVMH (Moët Hennessy Louis Vuitton):

LVMH’s watch brands are synonymous with luxury, quality, and prestige. The conglomerate’s commitment to craftsmanship, innovation, and exclusivity fosters a perception of opulence and sophistication.

Loyal customers are drawn to the brand’s heritage and the unique stories behind each watch. The exclusivity of owning an LVMH timepiece contributes to strong brand loyalty among luxury enthusiasts who appreciate the artistry and history that each brand embodies.

 

Swatch Group:

Swatch Group’s diverse portfolio allows it to cater to a wide range of consumers, creating various degrees of loyalty. Swatch captures a youthful and fun-loving audience, fostering loyalty through its playful designs. Omega and Longines cultivate loyalty among enthusiasts who admire Swiss precision and heritage.

The association of Tissot with sports and Breguet with horological mastery contributes to loyal followings among specific interest groups.

 

Financial Performance:

LVMH (Moët Hennessy Louis Vuitton):

LVMH makes good money from its luxury watch brands, showing it’s a big player in the high-end market.

Luxury watches keep selling well, helping LVMH stay financially strong, thanks to its mix of fancy watch brands and other luxury goods.

 

Swatch Group:

Swatch Group’s financial performance is closely tied to its diverse brand portfolio and global reach. The company’s financial reports reveal a mix of revenue sources, ranging from entry-level to luxury watches.

Download Swatch Group – Annual Report 2022 from here

Future Outlook

LVMH (Moët Hennessy Louis Vuitton):

LVMH’s future outlook in the watch industry remains promising as it continues to leverage its luxury heritage and innovation.

The conglomerate’s commitment to sustainability, coupled with its emphasis on craftsmanship, positions its watch brands to resonate with eco-conscious luxury consumers. The integration of technology and tradition, along with its portfolio of iconic brands, is likely to maintain LVMH’s strong presence in the evolving luxury watch market.

 

Swatch Group

Swatch Group’s future outlook is marked by its ability to balance tradition with innovation. As smartwatches gain popularity, the group’s diverse portfolio allows it to cater to a broader audience, including those seeking wearable technology.

Continued partnerships and collaborations, along with a focus on sustainability, are expected to contribute to Swatch Group’s relevance in the watch industry.

check Swatch groups visions: https://www.swatchgroup.com/en/swatch-group/swatch-group-history

 

 

Other Watch Groups

Fossil Group

Citizen

 

 

Kering Group

Founded in 1963 by François Pinault as a building materials company, Kering transformed into a luxury group in the 1990s, shifting focus to luxury goods with key acquisitions like Gucci in 1999, followed by Yves Saint Laurent, Bottega Veneta, and Balenciaga. Kering values craftsmanship, evident in its acquisition of historic watchmakers Girard-Perregaux and Ulysse Nardin.

Known for its commitment to sustainability and corporate responsibility, Kering under Chairman and CEO François-Henri Pinault, emphasizes digital innovation and ethical business practices, positioning itself as a leader in the luxury sector with a broader influence on cultural and societal developments.

SEIKO Group

Seiko Holdings Corporation’s business areas include the production and distribution of watches, movements, and electronic components globally. In 1969, Seiko introduced the world’s first quartz analog watch, which nearly devastated the entire traditional Swiss watchmaking industry. Currently, it owns watch brands such as Seiko, Grand Seiko, Credor, Pulsar, Lorus, Alba, and Orient Star, as well as movement brands like the SII and Epson movements.

Movado Group

Movado Group, founded in 1983, is an esteemed designer, manufacturer, and distributor of watches. They encompass an array of brands such as the upscale Movado, known for its iconic Museum Watch that pioneered the minimalist aesthetic in watch design; Ebel, celebrated for its architectural lines; and MVMT, which caters to a more budget-conscious, fashion-forward audience.

They operate on a global scale, delivering an eclectic mix of timepieces that range from high-end luxury to accessible fashion statements. The group has built a reputation for strategic brand diversification, allowing it to touch different segments of the watch market while maintaining a steadfast commitment to quality and design across its brand portfolio.

Final Thoughts

As these brands occupy most of the market share of the watch industry, they are there to help us test the market, and have strong financial, human, and material resources to do market research, so from some of these brands the annual report of the daily newspaper, it can help us to understand the listed companies in the past year have done what?

How was the sales performance of the products?

How is the profit?

What are the changes in the internal and external competitive landscape?

What is the future development? What new products will there be?

Remember “Looking back, looking forward”, keeping up with the footsteps of big brands, we will walk faster and more steadily!

 

We analyzed the LVMH group in our brief explanation of the top 4 watch giants companies, now let’s analyze some of the lvmh group.

First, let’s look at the global market

01 Market Overview

Value of various global luxury markets in 2022, by market type (in billion euros)

Description: This statistic shows the estimated value of various global luxury markets in 2022, by market type. It was estimated that in 2022 the global luxury cars market was worth about 566 billion euros. The total value of the global luxury goods market was approximately 1.38 trillion euros that year.

 

Value of the personal luxury goods market worldwide from 1996 to 2022 (in billion euros)

Description: This statistic shows the value of the personal luxury goods market worldwide from 1996 to 2022. In 2022, the value of the personal luxury goods market worldwide was estimated to be 353 billion euros.

 

Share of the personal luxury goods market worldwide in 2022, by region

Description: This statistic shows the share of the personal luxury goods market worldwide in 2022, by region. In 2022, the Americas accounted for 32 percent of the global personal luxury goods market, followed by Europe with a share of 27 percent of the market.

 

Personal luxury goods market value worldwide in 2021, by product type (in billion euros)

Description: This statistic shows the value of the personal luxury goods market worldwide in 2021, by product type. In 2021, the market value of personal luxury apparel products reached an estimated 57 billion euros.

 

Value of the personal luxury goods market worldwide in 2022, by sales channel (in billion euros)

Description: This statistic shows the value of the personal luxury goods market worldwide in 2022, broken down by sales channel. In 2022, the value of the travel retail (airport) personal luxury goods market worldwide was roughly 11 billion euros.

Sales of the leading luxury companies worldwide from 2012 to 2021 (in billion euros)

Description: This statistic shows the sales of the leading luxury companies worldwide from 2012 to 2018, and provides a forecast from 2019 to 2021. In 2018, LVMH generated approximately 46.8 billion euros in sales worldwide.

 

Brand value of the leading 10 most valuable luxury brands worldwide in 2022 (in million U.S. dollars)

Description: This statistic depicts the brand value of the leading 10 most valuable luxury brands worldwide in 2022. In that year, Chanel was the ninth most valuable luxury brand worldwide with a brand value of about 53 billion U.S. dollars.

Comment: Understanding the value of various luxury markets in 2022 provides a crucial baseline for assessing the potential of the luxury industry. The data on global luxury cars and personal goods markets presents a compelling narrative of consumer preferences. As a watch manufacturer, delving into these figures can help identify market gaps and opportunities to position your products effectively.

 

02 Financial performance

Total revenue of the LVMH Group worldwide from 2008 to 2022 (in million euros)

Description: Moët Hennessy Louis Vuitton (LVMH) is one of the world`s leading luxury groups, parent to 75 luxury houses. Over the past decade, LVMH enjoyed ever-increasing global revenue, reaching over 53 billion euros in 2019. In 2022, bouncing fully back from the impact of the coronavirus (COVID-19) pandemic, the group`s revenue saw an increase of about 77 percent on 2022, ultimately amounting to 79.2 billion euros for the year.

 

Revenue share of the LVMH Group worldwide in 2022, by geographic region

Description: This statistic shows the revenue share of the LVMH Group worldwide in 2022, by geographic region. In 2022, LVMH Group’s global revenue share from the United States was 37 percent.

 

Revenue of the LVMH Group worldwide from 2008 to 2022, by geographic region (in million euros)

Description: This statistic shows the revenue of the LVMH Group worldwide from 2008 to 2022, broken down by geographic region. In 2022, the LVMH Group generated approximately 21.6 billion euros in revenues in the United States. The company had total revenues of 79.2 billion euros that year.

 

Gross margin of the LVMH Group worldwide from 2017 to 2022 (in million euros)

Description: In 2022, LVMH had a gross margin of 54.2 billion euros. The LVMH Group is a French luxury goods corporation, which owns 75 luxury brands worldwide, including Louis Vuitton, Moët, Hennessy, and Bulgari.

Net profit of the LVMH Group worldwide from 2017 to 2022 (in million euros)

Description: In 2022, LVMH had a gross margin of 54.2 billion euros. The LVMH Group is a French luxury goods corporation, which owns 75 luxury brands worldwide, including Louis Vuitton, Moët, Hennessy, and Bulgari.

 

Comment:

LVMH’s financial trajectory showcases resilience and adaptability in a dynamic market landscape. The significant revenue surge in 2022 underscores the importance of agility and innovation, especially in post-pandemic recovery. Examining the revenue share by geographic region adds depth to understanding LVMH’s global market strategy, aiding in strategic partnerships and expansion plans.

 

03 Divisions

Revenue share of the LVMH Group worldwide in 2022, by business segment

Description: This statistic shows the revenue share of the LVMH Group worldwide in 2022, by segment. In 2022, 44 percent of the LVMH Group’s global revenue came from the company’s fashion and leather goods business segment.

Global revenue of LVMH Group’s fashion and leather goods segment from 2008 to 2022 (in million euros)

Description: The Louis Vuitton brand is the backbone of the French luxury conglomerate LVMH`s fashion and leather goods segment, but the group is home to many other iconic luxury brands and fashion houses as well. Christian Dior, Fendi, Marc Jacobs, and Givenchy, among others, all operate under LVMH`s fashion and leather goods segment, which reported a sales revenue of approximately 38.7 billion in 2022.

Global revenue of LVMH Group’s fashion and leather goods segment from 2008 to 2022 (in million euros)

Description: This statistic shows the global revenue of LVMH Group’s selective retailing segment from 2008 to 2022. In 2022, this segment generated revenues of 14.9 billion euros, an increase of over three billion euros compared to 2021. The LVMH Group is a French luxury goods corporation, which owns around 75 luxury brands worldwide, including Louis Vuitton and Bulgari. The fashion and leather goods segment generates the most revenue for LVMH.

 

Global revenue of LVMH Group’s perfumes and cosmetics segment from 2008 to 2022 (in million euros)

Description: This statistic shows the global revenue of LVMH Group’s perfumes and cosmetics segment from 2008 to 2022. In 2022, this segment generated revenues of 7.7 billion euros, which was an increase of more than one billion euros compared to the previous year. The LVMH Group is a French luxury goods corporation, which owns around 75 luxury brands worldwide, including Louis Vuitton and Bulgari. The fashion and leather goods segment generates the most revenue for LVMH.

 

Global revenue of LVMH Group’s wine and spirits segment from 2008 to 2022 (in million euros)

Description: This statistic shows the global revenue of LVMH Group’s wine and spirits segment from 2008 to 2022. In 2022, this segment generated a global revenue of approximately seven billion euros, an increase of more than 1.2 billion euros compared to 2021. The LVMH Group is a French luxury goods corporation, which owns around 75 luxury brands worldwide, including Louis Vuitton and Bulgari. The fashion and leather goods segment generates the most revenue for LVMH.

Global revenue of LVMH Group’s watches and jewelry segment from 2008 to 2022 (in million euros)

Description: This statistic shows the global revenue of LVMH Group’s watches and jewelry segment from 2008 to 2022. In 2022, this segment generated revenues of approximately 10.6 billion euros, which was more than double the revenue registered in 2020. The LVMH Group is a French luxury goods corporation, which owns around 50 luxury brands worldwide, including Louis Vuitton and Bulgari. The fashion and leather goods segment generates the most revenue for LVMH.

 

Comment: The prominence of LVMH’s fashion and leather goods segment speaks to the enduring allure of personal luxury items. Diversification into perfumes, cosmetics, watches, and jewelry provides insights into evolving consumer preferences. For your watch manufacturing business, this insight underscores the need to align with consumer trends and capitalize on segments with growth potential.

 

 

04 Key company figures

Total number of stores of the LVMH Group worldwide from 2008 to 2022

Description: LVMH had a total of 5,664 stores in operation around the world as of 2022, up from 2,314 in 2008. LVMH, an amalgamation of Louis Vuitton, Moët, and Hennessy, is the top selling luxury personal goods companies in the world. The company operates globally selling a diverse range of products. LVMH sells luxury leather goods, handbags, and ready-to-wear fashion through its Louis Vuitton brand, and wines and spirits through its Moët and Hennessy brands.

Number of stores of the LVMH Group worldwide in 2022, by geographical region

Description: This statistic shows the number of stores of the LVMH Group worldwide in 2022, by geographical region. In that year, the total number of stores the LVMH Group had throughout the United States was 1,054.

 

Total number of employees of the LVMH Group worldwide from 2008 to 2021

Description: This statistic shows the number of stores of the LVMH Group worldwide in 2022, by geographical region. In that year, the total number of stores the LVMH Group had throughout the United States was 1,054.

 

Advertising and promotion expenditure of the LVMH Group worldwide from 2008 to 2022 (in million euros)

Description: The French luxury goods conglomerate LVMH Group spent around 9.5 billion euros in advertising and promotion costs worldwide as of 2022, reaching an all-time higher investment on advertising since 2008. Primarily known for its fashion house Louis Vuitton, the LVMH Group invested about 7.3 billion euros in advertising in 2021.

Research and development (R&D) expenditure of the LVMH Group worldwide from 2008 to 2020 (in million euros)

Description: This statistic highlights the trend in research and development (R&D) expenditure of the LVMH Group worldwide from 2008 to 2020. In 2019, LVMH Group’s global R&D expenditure amounted to about 139 million euros.

Comment: LVMH’s exponential growth in store count signifies effective market penetration and customer engagement. The substantial investment in advertising and promotion reflects a commitment to brand resonance. The emphasis on research and development indicates a forward-looking approach, vital for maintaining innovation and competitiveness in a rapidly evolving luxury landscape.

 

 

05 Competitors

Total sales of the Richemont Group worldwide from FY2008 to FY2022 (in million euros)

Description: In FY2011, total sales of the Richemont Group worldwide amounted to about 19.18 billion euros, increasing by approximately six billion euros on the previous year. The Richemont Group is one of the leading luxury goods companies in the world. The Richemont Group garnered most of its revenue from jewelry Maisons in FY2022, which amounted to around 11 billion euros. The Asia-Pacific was responsible for 40.77 percent of the company`s total sales that year.

 

Sales share of the Richemont Group worldwide in FY2022, by geographical region

Description: This timeline shows the sales share of the Richemont Group worldwide in the financial year 2022, by geographical region. In that year, the sales share of the Richemont Group’s European region amounted to about 23 percent.

 

Richemont Group’s sales share worldwide in 2022, by product category

Description: In the financial year 2022, watch and jewelry sales accounted for about 75 percent of Richemont’s global sales. The company had total sales of approximately 19.18 billion euros that year.

 

Total number of monobrand stores of the Richemont Group worldwide as of 2020, by business area

Description: As of September 30, 2020, the jewelry maison division of Richemont Group operated 458 monobrand stores around the world. Richemont owns a number of luxury brands, such as Cartier, Van Cleef & Arpels, and Buccellati.

Revenue share of the Kering Group worldwide in 2022, by region

Description: This timeline depicts the global revenue of the Kering Group from 2008 to 2022. In 2022, Kering’s global revenue amounted to about 20.4 billion euros.

 

Revenue of the Kering Group worldwide from 2008 to 2022 (in million euros)

Description: In 2022, 27 percent of the Kering Group’s revenue was generated from the North American region. The company’s total revenue amounted to approximately 20.35 billion euros that year.

 

Revenue share of the Kering Group worldwide in 2022, by brand

Description: In 2022, the Gucci brand generated 52 percent of the Kering Group’s global revenue. Kering’s global revenue was approximately 20.35 billion euros that year.

 

Revenue share of the Kering Group worldwide in 2021, by product category

Description: In 2021, the leather goods product category accounted for half of the Kering Group’s global revenue. Kering’s global revenue was approximately 17.64 billion euros that year.

 

Number of directly operated Kering Group stores worldwide in 2020, by brand

Description: In 2021, the leather goods product category accounted for half of the Kering Group’s global revenue. Kering’s global revenue was approximately 17.64 billion euros that year.

 

Comment: Studying competitors like Richemont and Kering sheds light on diverse luxury market players. Richemont’s focus on jewelry and Kering’s emphasis on brands like Gucci illuminate niche strategies. Understanding their sales distribution and product mix can inform your approach, aiding in identifying unique selling points and ways to differentiate your watches.

 

Final Thought

With a pulse on luxury market dynamics, LVMH’s success story and strategic insights provide a compass for your journey in the world of luxury watches

You can download the PDF files here

The jewelry industry in Italy has experienced remarkable growth and transformation in recent years. From the steady increase in turnover and production value to the impact of global market trends and consumer behavior, the Italian jewelry sector continues to thrive.

In this article, we delve into various aspects of the industry, including revenue trends, leading companies, international trade, and consumer behavior, shedding light on the dynamic nature of the Italian jewelry market.

 

01 Italian jewelry industry

 

Revenue of the watches & jewelry industry Worldwide 2017-2026 (in billion U.S. dollars)

Description: The global revenue in the watches & jewelry segment of the accessories market was forecast to continuously increase between 2023 and 2026 by in total 44.8 billion U.S. dollars (+11.97 percent). The revenue is estimated to amount to 418.9 billion U.S. dollars in 2026.

 

Leading jewelry exporters worldwide in 2021, by country (in billion U.S. dollars)

Description: This statistic shows the value of jewelry exports from the leading countries worldwide in 2021. In 2021, Switzerland exported approximately 11.4 billion U.S. dollars of jewelry around the world, which was slightly less than top-placed United States.

 

Turnover of the jewelry industry in Italy from 2013 to 2020 (in million euros)

Description: This statistic displays the turnover of the jewelry industry in Italy from 2013 to 2019. According to the data, over the period of consideration, the turnover of the jewelry industry in Italy grew steadily, going from approximately 6.6 billion euros in 2013 to almost 9.2 billion euros in 2019.

 

Turnover growth of the jewelry industry in Italy from 2014 to 2020

Description: This statistic displays the growth of the turnover of the jewelry industry in Italy from 2014 to 2020. According to the data, over the period of consideration, the turnover of the jewelry industry in Italy grew steadily, peaking at more 10.6 percent in 2019, up from the previous years.

 

The market price of raw materials for the Italian jewelry industry from 2013 to 2019 (in euros per ounce)

Description: This statistic displays the market price of raw materials for the Italian jewelry industry in Italy between 2013 and 2019. As of the survey period, the market price of gold fluctuated over time reaching its lowest value in 2014 at 953.1 euros per ounce and peaked at 1,128 euros in 2016.

 

Distribution of jewelry advertising spending in in Italy in 2019, by medium

Description: In 2019, 57 percent of advertising investments of jewelry brands in Italy were destined towards TV ads. Magazines were the second most popular medium, with 25 percent. Italian jewelry industry invested a total of 59.4 million euros in advertising that year.

 

02 Leading companies

Leading watches and jewelry companies in Italy in 2020, by sales revenues (in 1,000 euros)

Description: This statistic presents the leading companies active in the manufacturing/distribution of watches and jewelry in Italy in 2019, by sales revenues.

According to data provided by Competitive Data, in 2020, LVMH Italia S.p.A. was the leading manufacturer/distributor of watches and jewelry in Italy, with domestic sales revenues of 718 million euros. Following in the ranking came Bulgari, with domestic revenue of 412 million euros.

 

Net revenues of watches and jewelry companies in Italy from 2015 to 2020 (in million euros)

Description: This statistic presents the net revenues of a significant sample of companies active in the manufacturing/distribution of watches and jewelry in Italy from 2015 to 2020. According to data provided by Competitive Data, domestic net revenues of the companies sampled in Italy increased from 1.7 billion euros in 2015 to 2.1 billion euros in 2019, before dropping again to 1.6 million euros in 2020.

 

Production value of watches and jewelry companies in Italy from 2015 to 2020 (in million euros)

Description: This statistic presents the production value of a significant sample of companies active in the manufacturing/distribution of watches and jewelry in Italy from 2015 to 2020. According to data provided by Competitive Data, production value of the companies sampled in Italy increased from 1.74 billion euros in 2015 to over 2.2 billion euros in 2019. This value decline in 2020 to 1.6 milion euros.

 

Net result of watches and jewelry companies in Italy from 2015 to 2020 (in million euros)

Description: This statistic presents the net result of a significant sample of companies active in the manufacturing/distribution of watches and jewelry in Italy from 2015 to 2020. According to data provided by Competitive Data, net result of the companies sampled in Italy decreased from 43 million euros in 2015 to 86 million euros in 2019. In 2020, this figure declined to six million euros.

 

Jewelry brands with highest advertising spending in Italy in 2019 (in 1,000 euros)

Description: In 2019, Pandora was the jewelry brand with highest advertising spending in Italy. Its ad expenditures amounted to 14.97 million euros, more than 3.5 times more than Morellate, which ranked second. Italian jewelry industry invested a total of 59.4 million euros in advertising that year.

 

03 International trade

Export value of the Italian jewelry industry from 2014 to 2020 (in million euros)

Description: This statistic displays the export value of the Italian jewelry industry from 2014 to 2020. According to the data, during the period of consideration, the value of the exports of the Italian jewelry industry increased overall, growing from approximately six billion euros in 2014 to just over 7.4 billion euros in 2019.

 

Export value of the Italian jewelry industry from Italy in 2019, by destination market (in million euros)

Description: In 2019, the value of the export of the Italian jewelry industry to the Swiss market amounted to about 1.2 billion euros. Export of the Italian jewelry industry to the U.S. market followed with a total export value of 958.2 million euros.

 

Export value of the Italian fine jewelry industry in Italy from 2014 to 2020 (in million euros)

Description: This statistic displays the export value of the Italian fine jewelry industry in Italy between 2014 and 2020. As of the survey period, the value of the export of the Italian fine jewelry industry increased from about 5.2 billion euros in 2014 to approximately 6.4 billion euros in 2019.

 

Import value of the Italian jewelry industry from 2014 to 2020 (in million euros)

Description: This statistic displays the import value of the Italian jewelry industry in the period from 2014 to 2020. The value of imports of the Italian jewelry industry increased from about 2.1 billion euros in 2014 to about 3.1 billion euros in 2019.

 

Import value of the Italian jewelry industry in 2019, by supplier country (in million euros)

Description: This statistic displays the import value of the Italian jewelry industry in Italy in 2019, by country. According to the data, in 2019, the import value of the Italian jewelry industry from the Swiss market amounted to approximately 652 million euros. During the same period, imports of jewelry from France followed with a total value of nearly 455 million euros.

 

Import value of the Italian fine jewelry* industry between 2014 and 2020 (in million euros)

Description: This statistic displays the import value of the Italian fine jewelry industry between 2014 and 2020. The value of the import of the Italian fine jewelry industry increased from about 991 million euros in 2014 to about 1.7 billion euros in 2019.

 

Import value of precious metals for the Italian jewelry industry between 2014 and 2019 (in thousand euros)

Description: This statistic displays the import value of precious metals for the Italian jewelry industry between 2014 and 2019. As of the year 2018, the value of the import of precious metals was about 6.5 billion euros, a slight increase compared to the previous years.

 

04 Consumer behavior

 

How much are you going to spend on precious jewelry and watches in 2020?

Description: This statistic presents the spending intentions of Italian consumers on precious jewelry and watches in 2020. According to the survey results, 52 percent of respondents are not going to buy expensive jewelry and watches at all, while 28 percent of consumers stated that their spending on precious jewelry and watches is going to remain the same as in the past.

 

Share of jewelry shops with websites and social networks profiles in Italy in 2019

Description: In 2019, 19 percent of jewelry shops in Italy had both a website and one or more social media profiles. On the other hand, about 29 percent of jewelry shops did not have any online presence at all.

 

Impact of coronavirus (COVID-19) on consumer spending in selected countries as of March 2020, by retail category

Description: Over the next two weeks from March 23, 2020, consumers in Italy, Spain, the UK and the U.S. intended to increase their spending on groceries. Respondents stated that they expected to decrease their spending for every other retail category.

 

Purchase value of goods and services of the jewelry industry in Italy between 2010 and 2020 (in 1,000 euros)

Description: The statistic illustrates the total purchase value of goods and services of the jewelry industry in Italy between 2010 and 2020. As of 2020, the purchase value of goods and services of the jewelry industry amounted to over four billion euros, a decrease compared to the previous year.

 

最終的な考え:

The Italian jewelry industry stands as a shining example of craftsmanship, innovation, and business acumen. With a rich history and a commitment to excellence, Italian jewelry brands have achieved global recognition and success. As the industry continues to evolve and adapt to changing market dynamics and consumer preferences, it remains a beacon of creativity and artistry, providing exquisite pieces that captivate the hearts of jewelry enthusiasts worldwide.

Welcome to our blog post, where we take a closer look at the wristwatches industry in the Netherlands. As a factory specializing in customized watches for independent brands, we understand the importance of understanding market trends and consumer behavior.

In this simplified research, we explore various aspects of the industry, including the number of retailers, financial figures, e-commerce trends, and consumer spending. Join us as we uncover key statistics and insights that shed light on the wristwatch market in the Netherlands.

 

Chapter 01 Retailers

In this chapter, we delve into the number of jewelers in the Netherlands, the shop floor area, the average shop floor per jeweler, and the presence of jewelry chains. By understanding the retail landscape, we can gain valuable insights into the market’s size and structure.

 

Number of Jewelers in the Netherlands from 2014 to 2022

Description: This statistic displays the total number of jewelers in the Netherlands from 2014 to 2022. In 2014, there were approximately 1,650 jewelry stores in the Netherlands. By 2022, there were fewer than 1,400 stores across the country.

 

Shop floor area of jewelers in the Netherlands from 2015 to 2021 (in 1,000 square meters)

Description: Between 2015 and 2021, the total shop floor area of jewelers in the Netherlands had decreased slightly. The total shop floor area in the country peaked in 2015, at roughly 97,000 square meters. By 2021, this had dropped to approximately 89,000 square meters.

 

Average shop floor per jeweler in the Netherlands from 2015 to 2020 (in square meters)

Description: Between 2015 and 2020, the average shop floor area of jewelers in the Netherlands remained more or less stable, at around 60 square meters per jeweler.

 

Number of jewelry chains in the Netherlands in 2020, by number of branches

Description: In 2020, there were five jewelry chains in the Netherlands with more than ten branches. The leading jewelry chain this year was Lucardi, which had over 100 stores in the country that year. By comparison, Swarovski had between 10 and 25 stores in the Netherlands.

 

Secondary activities of jewelers in the Netherlands in 2019

Description: In 2019, there were 1,733 jewelry stores registered in the Netherlands. Of these stores, 17.4 percent also repaired clocks and jewelry. Wholesale of these products was a less common secondary activity for jewelers. Just over five percent of the jewelers in the Netherlands also operated as a wholesaler in clocks and jewelry.

 

Chapter 02 Financial figures

Financial figures provide valuable information about the revenue and profitability of the wristwatch industry. We analyze the revenue of jewelers, revenue per jeweler, distribution of revenue by category, gross profit margin, and media presence of watch and jewelry brands in the Netherlands.

 

Revenue of jewelers in the Netherlands from 2013 to 2020 (in million euros)

Description: This statistic displays the total revenue of jewelers in the Netherlands from 2013 to 2020 (in million euros). In 2013, the revenue of jewelry stores in the Netherlands was approximately 830 million euros. By 2020, this had increased to over 900 million euros.

 

 

Revenue per jeweler in the Netherlands from 2013 to 2020 (in thousand euros)

Description: This statistic displays the revenue per jeweler in the Netherlands from 2013 to 2020 (in thousand euros). In 2013, the average revenue of jewelry stores in the Netherlands was approximately 400 thousand euros. By 2020, this had increased to over 550 thousand euros.

 

Distribution of the revenue of jewelers in the Netherlands in 2019, by category

Description: In 2019, jewelers in the Netherlands made roughly one-quarter of their total revenue by selling rings. Earrings made up approximately ten percent of the turnover of jewelers that year. The total revenue of jewelers in the Netherlands amounted to just under one billion euros in 2020.

 

 

Gross profit margin of jewelers in the Netherlands from 2016 to 2020

Description: As of 2020, the gross profit margin as a percentage of the revenue of jewelers amounted to roughly 45.7 percent, slightly more than in 2019. When looking at the total revenue of jewelers in the Netherlands, it increased slightly from roughly 850 million euros in 2014, to over 900 million euros in 2020.

 

Number of media statements about watch and jewelry brands in the Netherlands in 2020, by brand

Description: According to data published by Adwired, Certina was mentioned 137 times in print, online and social media in the Netherlands in 2020. The watch brand with the highest media presence in the country that year was Rolex, with 6,071 media mentions.

 

Share of online sales of jewelry in the Netherlands from 2012 to 2018

Description: The statistic displays the share of online sales of jewelry in the Netherlands from 2012 to 2018. The share of online sales of jewelry in the Netherlands increased steadily between 2012 and 2018. In 2012, just three percent of jewelry sales in the

Netherlands were made online, whereas by 2018, the share of online jewelry sales had increased by almost ten percent, to approximately 13 percent.

 

Leading purchase channels for buying luxury goods (such as jewelry and watches) online in the Netherlands in 2018 and 2019

Description: Luxury goods, like jewelry or watches, were not products that Dutch consumers would buy online in 2019. In February 2019, less than out of four Dutch online shoppers indicated they would purchase one of these products at an online marketplace like Bol.com or Amazon. E-commerce has become more and more popular in the Netherlands in recent years. The number of online orders or purchases, for example, reached approximately 260 million in 2019.

 

Number of media statements about watch and jewelry brands in the Netherlands in 2020, by brand

Description: According to data published by Adwired, Certina was mentioned 137 times in print, online and social media in the Netherlands in 2020. The watch brand with the highest media presence in the country that year was Rolex, with 6,071 media mentions.

 

Predicted change in online channel usage among consumers in the Netherlands after the coronavirus pandemic in 2020, by online purchasing category

Description: Once 2020’s coronavirus pandemic has subsided, online purchases for alcholic beverages by consumers in the Netherlands is expected to grow by just over ten percent. This is a considerable increase compared to the pre-COVID-19 days.

Onlinepurchasing is projected to increase for strongly for categories, such as personal-care products and non-food child products, while fitness & wellness was the only category expected to decline after the pandemic is over.

 

Chapter 03 E-commerce

E-commerce has transformed the way consumers shop, including their preferences for watches. We explore the share of online sales of jewelry, leading purchase channels for luxury goods online, and the predicted changes in online channel usage after the coronavirus pandemic.

Total consumer spending on watches, clocks, and alarm clocks in the Netherlands from 2015 to 2018 (in million euros)

Description: Between 2015 and 2018, consumer spending on watches, clocks and alarm clocks in the Netherlands increased annually. Whereas in 2015, the total consumer expenditure was just under 170 million euros, by 2018 this had grown to over 180 million euros.

 

Per capita spending on watches, clocks, and alarm clocks in the

Netherlands from 2015 to 2020 (in euros)

Description: Between 2015 and 2020, per capita spending on watches, clocks and alarm clocks in the Netherlands increased slightly. Whereas in 2015, the per capita consumer expenditure was ten euros, by 2020 this had grown to 11 euros.

 

Chapter 04 Consumer spending

Consumer spending is a crucial factor in understanding market demand. We delve into total consumer spending on watches, clocks, alarm clocks, jewelry, and coins in the Netherlands, as well as per capita spending. Additionally, we explore Valentine’s Day gifting trends and the impact of the coronavirus outbreak on payment transactions.

 

Total consumer spending on jewelry and coins in the Netherlands from 2015 to 2020 (in million euros)

Description: Between 2015 and 2020, consumer spending on jewelry and coins in the Netherlands increased annually. Whereas in 2015, the total consumer expenditure was just over 400 million euros, by 2020 this had grown to 461 million euros.

 

Per capita spending on jewelry and coins in the Netherlands from 2015 to 2020 (in euros)

Description: Between 2015 and 2020, per capita spending on jewelry and coins in the Netherlands increased almost annually. Whereas in 2015, the per capita consumer expenditure was just under 25 euros, by 2020 this had grown to 27 euros.

 

Valentine’s Day presents gifted in the Netherlands in 2020

 

Description: This statistic displays the Valentine’s Day presents gifted in the Netherlands in 2020. When asked what they gifted their beloved on Valentine’s Day, roughly 20 percent of the respondents said they gave their partner chocolate or candy.

Change in the number of debit card transactions in different payment locations in the Netherlands due to the coronavirus outbreak from March to June 2020

 

Description: An overview on how many payment transactions were done at, for example, supermarkets or restaurants reveals how much COVID-19 changed Dutch consumer behavior. Measures from the Dutch government already left visible marks on parts of the Dutch economy on both March 19th and March 20th, 2020, even before a recession might hit later in the year. Especially out-of-home leisure activities, like visiting a restaurant or going to a theme park, saw huge changes in the number of […]

 

 

Conclusion:

The wrist watches industry in the Netherlands presents a dynamic landscape shaped by various factors, including retail trends, financial figures, e-commerce adoption, and consumer spending patterns. Through this simplified research, we’ve gained valuable insights into the market’s size, trends, and preferences. By staying informed and adapting to changing consumer behavior, our factory can continue to deliver customized watches that cater to the needs and desires of independent brands. Stay tuned for more exciting content as we explore further aspects of the wrist watches industry and uncover new opportunities for growth and innovation.

You can download the PDF file here

Welcome to our blog post, where we delve into the fascinating world of the global jewelry and watches market. In this simplified research, we explore various aspects of the industry, from market overviews and international trade to materials used and leading companies. Join us as we uncover key statistics, trends, and insights that shape this thriving industry.

 

CHAPTER 01 Market Overview

In this chapter, we provide a comprehensive overview of the jewelry and watches market. We analyze the revenue forecasts, market values of diamond and costume jewelry, luxury watches and jewelry, online jewelry market, and the leading countries in terms of revenue.

 

Revenue of the watches & jewelry industry Worldwide 2017-2026 (in billion U.S. dollars)

Description: The global revenue in the watches & jewelry segment of the accessories market was forecast to continuously increase between 2023 and 2026 by in total 44.8 billion U.S. dollars (+11.97 percent). The revenue is estimated to amount to 418.9 billion U.S.

dollars in 2026. Find further information concerning the revenue in the watches & jewelry segment of the accessories market by looking at other countries, such as Thailand and Poland.

 

Market value of diamond jewelry worldwide from 2010 to 2021 (in billion U.S. dollars)

Description: In 2021, the total value of the diamond jewelry market worldwide amounted to 87 billion (nominal) U.S. dollars. That represented an increase of 19 billion U.S. dollars from the previous year, as the global diamond industry recovered from the results of the COVID-19 pandemic.

 

Forecast value of the costume jewelry market worldwide from 2021 to 2027 (in billion U.S. dollars)

Description: This statistic depicts the forecast market value of the costume jewelry market worldwide from 2021 to 2027. In 2021, the global costume jewelry market was valued at 30.8 billion U.S. dollars, and was forecast to reach a value of around 47 billion U.S. dollars by 2027.

 

 

Market value of luxury watches and jewelry worldwide in 2022 (in billion euros)

Description: In 2022, the luxury watches market was valued at around 52 billion euros. This was significantly more than the value of the luxury jewelry market that year, which amounted to 28 billion euros worldwide.

 

Estimated value of the online jewelry market worldwide from 2020 to 2027 (in billion U.S. dollars)

Description: In 2022, the global online jewelry market was valued at approximately 57.4 billion U.S. dollars, and was forecast to reach a value of about 117 billion U.S. dollars by 2027. As of 2022, the value of the global jewelry market amounted to about 270 billion U.S. dollars.

 

Leading countries in the watches and jewelry market in 2022, by revenue (in million U.S. dollars)

Description: The revenue ranking in the watches & jewelry segment of the accessories market is led by China with 81.2 billion U.S. dollars, while India is following with 72.6 billion U.S. dollars. In contrast, Russia is at the bottom of the ranking with 3.8 billion U.S. dollars,

showing a difference of 77.4 billion U.S. dollars to China.

 

CHAPTER 02 International trade

The second chapter focuses on international trade within the jewelry and watches industry. We delve into the export and import values of gold, silverware, and jewelry worldwide. Additionally, we highlight the leading exporting and importing countries in this sector.

 

Export value of gold, silverware, and jewelry worldwide from 2003 to 2021 (in billion U.S. dollars)

Description: In 2021, the worldwide export value of gold, silverware, and jewelry was approximately 126.3 billion U.S. dollars, up from 86.8 billion U.S. dollars registered a year earlier. The global import value of gold, silverware, and jewelry was about 115.7 billion U.S. dollars in 2021.

 

Import value of gold, silverware, and jewelry worldwide from 2003 to 2021 (in billion U.S. dollars)

Description: In 2021, the worldwide import value of gold, silverware, and jewelry was approximately 115.7 billion U.S. dollars, up from 99 billion U.S. dollars recorded in the previous year. The global export value of gold, silverware, and jewelry was around 126.3 billion U.S. dollars in 2021.

 

 

Leading exporting countries of gold, silverware, and jewelry worldwide in 2021 (in million U.S. dollars)

Description: In 2021, China was the leading exporter of gold, silverware, and jewelry to the rest of the world, with an export value of around 19 billion U.S. dollars. Switzerland, ranking second, exported approximately 11.55 billion U.S. dollars worth of these goods that year.

 

Leading importing countries of gold, silverware, and jewelry worldwide in 2021 (in million U.S. dollars)

Description: In 2021, the United States was the leading importer of gold, silverware, and jewelry from the rest of the world, with an import value of about 25.8 billion U.S. dollars. China, Hong Kong SAR, ranking second, imported approximately 18.4 billion U.S. dollars worth of these goods that year.

 

 

CHAPTER 03 Materials

Materials play a crucial role in the creation of exquisite jewelry and watches. In this chapter, we examine the demand for gold, silver, and platinum jewelry worldwide. We also explore the leading regions driving the demand for these precious materials.

 

Gold jewelry demand worldwide from 2010 to 2022 (in tonnes)

Description: This statistic displays the demand for gold jewelry worldwide from 2010 to 2022. In 2022, the global demand for gold jewelry amounted to approximately 2,086 tonnes. This was a decrease of roughly 60 tonnes from the previous year.

 

Gold jewelry demand worldwide in 2022, by leading region (in tonnes)

Description: This statistic displays the demand for gold jewelry worldwide in 2022, by region. In 2022, the global demand for gold jewelry totalled 2,086 tonnes. India was the country with the highest demand, at roughly 600 tonnes, folowed by China. Together the two countries accounted for over one half of the world’s gold jewelry demand.

 

Silver jewelry demand worldwide from 2012 to 2022 (in million ounces)

Description: The jewelry industry was forecast to demand almost 202 million ounces of silver in 2022, which was a significant increase on the previous year, and roughly equalled the peak in the demand for silver for jewelry, which came in 2018.

 

Platinum demand for jewelry worldwide from 2013 to 2023 (in 1,000 ounces)

Description: The gross worldwide demand for platinum for jewelry applications in 2023 was estimated to amount to some 1.35 million ounces. The demand for platinum for jewelry has been continuously decreasing for nearly a decade.

 

Platinum demand for jewelry worldwide from 2015 to 2023, by region (in 1,000 ounces)

Description: In 2023, the gross demand for platinum for jewelry in China was estimated at some 470,000 ounces, making it the world’s largest consumer of platinum jewelry. In comparison, the gross demand for platinum for jewelry in Europe was estimated at some 209,000 ounces the same year.

 

CHAPTER 04 Leading companies

 

The final chapter sheds light on the top players in the industry. We provide insights into the net sales and merchandise mix of renowned companies like Signet Jewelers, Richemont Group, LVMH Group, and Pandora A/S.

 

Net sales of Signet Jewelers worldwide from fiscal year 2014 to 2023 (in million U.S. dollars)

Description: This statistic shows Signet Jewelers’ net sales worldwide from fiscal year 2014 to 2023. In the fiscal year that ended on January 28, 2023, Signet Jewelers had global net sales of approximately 7.84 billion U.S. dollars, remaining flat since the previous year.

 

Merchandise mix of Signet Jewelers worldwide in fiscal year 2023

Description: This statistic shows the merchandise mix of Signet Jewelers worldwide in fiscal year 2023. In the fiscal year that ended on January 28, 2023, bridal jewelry accounted for around 49 percent of Signet Jewelers’ global sales.

 

Total sales of the Richemont Group worldwide from FY2008 to FY2023 (in billion euros)

Description: In 2023, total sales of the Richemont Group worldwide amounted to about 19.95 billion euros, increasing by approximately three billion euros on the previous year. The Richemont Group is one of the leading luxury goods companies in the world.

The Richemont Group garnered most of its revenue from jewelry Maisons in FY2022, which amounted to around 13.4 billion euros. The Asia-Pacific was responsible for 40 percent of the company`s total sales that year.

 

Richemont Group’s sales share worldwide in 2022, by product category

Description: In the financial year 2022, watch and jewelry sales accounted for about 75 percent of Richemont’s global sales. The company had total sales of approximately 19.18 billion euros that year.

 

Global revenue of LVMH Group’s watches and jewelry segment from 2008 to 2022 (in million euros)

Description: This statistic shows the global revenue of LVMH Group’s watches and jewelry segment from 2008 to 2022. In 2022, this segment generated revenues of approximately 10.6 billion euros, which was more than double the revenue registered in 2020.

The LVMH Group is a French luxury goods corporation, which owns around 50 luxury brands worldwide, including Louis Vuitton and Bulgari. The fashion and leather goods segment generates the most revenue for LVMH.

 

Revenue share of the LVMH Group worldwide in 2022, by business

segment

Description: This statistic shows the revenue share of the LVMH Group worldwide in 2022, by segment. In 2022, 44 percent of the LVMH Group’s global revenue came from the company’s fashion and leather goods business segment.

 

Total revenue of Pandora A/S worldwide from 2010 to 2022 (in million Danish kroner)

 

Description: This timeline shows the total revenue of Pandora A/S worldwide from 2010 to 2022. In 2022, the total revenue of Pandora A/S amounted to approximately 26.5 billion Danish kroner, continuing the growth from the previous year.

 

Conclusion:

The global jewelry and watches market is a dynamic and thriving industry, continuously driven by evolving trends and consumer preferences. Through this simplified research, we’ve gained valuable insights into market overviews, international trade, materials, and leading companies. By understanding these key aspects, we can better appreciate the intricate world of jewelry and watches.

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Hopefully, this information will help you in your market understanding and customer development!

Stay tuned for more exciting content as we explore various luxury watches industries and uncover new horizons.

This report is very helpful for sellers who are new to the industry and want to roughly understand the jewelry and watch industry.

The watches and jewelry industry has witnessed remarkable growth in recent years, both globally and in specific regions. With increasing consumer demand and evolving trends, the market has become a significant contributor to the global accessories sector. In this post, we delve into key statistics and trends, exploring the revenue, market value, manufacturing, wholesale, retail, leading brands, and consumer expenditure within the watches and jewelry industry. From worldwide data to specific insights about the United Kingdom, we aim to provide a comprehensive overview of this thriving market.

Chapter 01 Overview

Introduction: In this chapter, we explore the global revenue and market value of the watches & jewelry industry. We delve into the forecasted revenue growth in the watches & jewelry segment of the accessories market worldwide from 2017 to 2026. Additionally, we examine the market value of luxury watches and jewelry in 2022, as well as the leading importing countries and jewelry exporters worldwide in 2021.

 

Revenue of the watches & jewelry industry Worldwide 2017-2026 (in billion U.S. dollars)

Description: The global revenue in the watches & jewelry segment of the accessories market was forecast to continuously increase between 2023 and 2026 by in total 44.8 billion U.S. dollars (+11.97 percent). The revenue is estimated to amount to 418.9 billion U.S. dollars in 2026.

 

Market value of luxury watches and jewelry worldwide in 2022 (in billion euros)

Description: In 2022, the luxury watches market was valued at around 52 billion euros. This was significantly more than the value of the luxury jewelry market that year, which amounted to 28 billion euros worldwide.

 

Leading importing countries of gold, silverware, and jewelry worldwide in 2021 (in million U.S. dollars)

Description: In 2021, the United States was the leading importer of gold, silverware, and jewelry from the rest of the world, with an import value of about 25.8 billion U.S. dollars. China, Hong Kong SAR, ranking second, imported approximately 18.4 billion U.S. dollars worth of these goods that year.

 

Leading jewelry exporters worldwide in 2021, by country (in billion U.S. dollars)

Description: This statistic shows the value of jewelry exports from the leading countries worldwide in 2021. In 2021, Switzerland exported approximately 11.4 billion U.S. dollars of jewelry around the world, which was slightly less than top-placed United States.

 

最終的な考え: The watches & jewelry industry continues to thrive globally, with significant revenue growth projected in the coming years. As luxury watches and jewelry maintain their prominence, countries like the United States and Switzerland play vital roles as key importers and exporters. Understanding the market dynamics and trends in this industry is crucial for businesses and consumers alike.

 

Chapter 02 Manufacture and wholesale

 

Introduction: In this chapter, we delve into the manufacturing and wholesale aspects of the watches & jewelry industry in the United Kingdom (UK). We analyze the annual turnover and gross value added (GVA) of jewelry manufacturers, as well as the number of enterprises in this sector from 2008 to 2020. Furthermore, we explore the sales and GVA of watch and jewelry wholesalers during the same period, along with the number of wholesale enterprises. By examining these key metrics, we gain insights into the manufacturing and wholesale landscape of the UK’s watches & jewelry industry.

Annual turnover of manufacture of jewelry and related articles in the United Kingdom (UK) from 2008 to 2020 (in million GBP)

Description: This statistic shows the total turnover of businesses manufacturing jewelry and related articles in the United Kingdom (UK) from 2008 to 2020. Over the time period under consideration, the turnover of this sector fluctuated. In 2020, jewelry manufacturers in the UK registered a total turnover of 714 million British pounds.

 

Gross value added (GVA) of manufacture of jewelry and related articles in the United Kingdom (UK) from 2008 to 2020 (in million GBP)

Description: This statistic shows the gross value added (GVA) of jewelry (and related article) manufacturers in the United Kingdom (UK) from 2008 to 2020. In 2020, jewelry manufacturing contributed 149 million British pounds to the GVA of the UK Non-Financial

Business Economy, a decrease of 194 million pounds on the year previous, marking the lowest point in the time period under consideration.

 

Number of enterprises for the manufacture of jewelry and related articles in the United Kingdom (UK) from 2008 to 2020

Description: This statistic shows the number of enterprises for the manufacture of jewelry and related articles in the United Kingdom (UK) from 2008 to 2020. The number of enterprises in this industry stayed relatively stable during the ten year period, with the

highest amount being in 2008 at 1,372 enterprises. In 2020, the number of enterprises of this sector amounted to 1,349.

 

Sales from the manufacture of jewelry and related articles in the United Kingdom (UK) from 2008 to 2021 (in million GBP)

Jewelry manufacturers’ sales in the United Kingdom (UK) 2008-2021

Description: This statistic shows the total sales value of jewelry and related articles manufactured in the United Kingdom (UK) from 2008 to 2021. In 2021, manufacturers’ sales of jewelry had an estimated value of 721 million British pounds (GBP).

 

Annual turnover of watches and jewelry wholesalers in the United

Kingdom (UK) from 2008 to 2020 (in million GBP)

Description: This statistic shows the total turnover of watch and jewelry wholesale businesses in the United Kingdom (UK) from 2008 to 2020. Over the time period under consideration, turnover of this sector fluctuated. In 2020, watch and jewelry wholesalers in the UK generated a turnover of just over two billion British pounds, down from about 2.28 billion recorded in the previous year.

 

Gross value added (GVA) of watch and jewelry wholesale trade in the United Kingdom (UK) from 2008 to 2020 (in million GBP)

Description: This statistic shows the gross value added (GVA) of the watch and jewelry wholesale trade in the United Kingdom (UK) from 2008 to 2020. Over the time period under consideration, the GVA of this sector fluctuated substantially. In 2020, watch and jewelry

wholesalers contributed 371 million British pounds to the GVA of the UK Non-Financial Business Economy.

 

Number of enterprises for the wholesale of watches and jewelry in the United Kingdom (UK) from 2008 to 2020

Description: This statistic shows the estimated number of watch and jewelry wholesale businesses in the United Kingdom (UK) from 2008 to 2020. After steadily decreasing between 2008 and 2012, the number of watch and jewelry wholesalers relatively stabilized. In 2020, there were 1,217 watch and jewelry wholesale enterprises in the UK.

 

Number of enterprises for the wholesale of watches and jewellery in the United Kingdom (UK) in 2022, by turnover size band

Description: This statistic shows the number of VAT and/or PAYE based enterprises in the watch and jewellery wholesale sector in the United Kingdom for 2022, by turnover size band. There were 50 enterprises with a turnover of more than five million British pounds.

 

最終的な考え: The UK’s watches & jewelry industry demonstrates fluctuations in turnover, GVA, and the number of enterprises over the years. Despite these variations, the sector remains resilient, reflecting its importance within the UK’s non-financial business economy. By understanding the manufacturing and wholesale aspects, stakeholders can make informed decisions and adapt to the changing market dynamics.

 

Chapter 03 Retail

Introduction: In this chapter, we focus on the retail sector of the watches & jewelry industry in the United Kingdom (UK). We analyze the retail sales value and sales volume of watches and jewelry in specialized stores from 2011 to 2022, along with the percentage increases in sales value and volume. Additionally, we explore the turnover, GVA, and the number of specialized retail stores for watches and jewelry in the UK from 2008 to 2020. Through these insights, we gain a comprehensive understanding of the retail landscape and consumer demand for watches and jewelry in the UK.

 

Retail sales value of watches and jewelry annually in Great Britain from 2011 to 2022, as index number of sales per week

Description: This statistic presents the annual retail sales value of watches and jewelry in specialized stores in Great Britain from 2011 to 2022, as an index number of sales per week. In 2022, the value of watch and jewelry sales stood at an index point of 108.2, up from 99.5 recorded a year earlier.

 

Sales volume of watches and jewelry annually in Great Britain from 2011 to 2022, as index number of sales per week

Description: This statistic shows the annual sales volume of watches and jewelry in specialized stores in Great Britain from 2011 to 2022, as indices with the value for 2019 representing the baseline value. In 2022, unit sales of watches and jewelry have increased, with the indexed value reaching to 100.5.

 

Percentage increase in retail sales value of watches and jewelry in Great Britain from 2011 to 2021

Description: This statistic shows the percentage change in the retail sales value of watches and jewelry in specialized stores in Great Britain, from 2011 to 2021. In 2021, the value of watch and jewelry sales grew by 31.5 percent on a year earlier.

 

Percentage increase in retail sales volume of watches and jewelry in Great Britain from 2011 to 2021

Description: This statistic shows the percentage change in the sales volume of watches and jewelry in specialized stores in Great Britain, from 2011 to 2021. In 2021, the volume of sales increased by 29.6 percent on the previous year.

 

Turnover of watch and jewelry retail stores in the United Kingdom (UK) from 2008 to 2020 (in million GBP)

Description: This statistic shows the total annual turnover of stores specializing in the retail sale of watches and jewelry in the United Kingdom (UK) from 2008 to 2020. Over the time period under consideration, turnover of this sector fluctuated noticeably. In 2020,

watch and jewelry retailers in the UK produced a turnover of about 5.53 billion British pounds.

 

Gross value added (GVA) of watch and jewelry retail stores in the United Kingdom (UK) from 2008 to 2020 (in million GBP)

Description: This statistic shows the gross value added (GVA) of the retail sale of watches and jewelry in specialized stores in the United Kingdom (UK) from 2008 to 2020. Over the time period under consideration, the GVA of this sector had fluctuations. In 2020, specialist stores selling watches and jewelry contributed around 921 million British pounds to the GVA of the UK Non-Financial Business Economy. In the 13-year period, this was the first time when the GVA dropped below one billion level.

 

Number of specialized stores for the retail sale of watches and jewelry in the United Kingdom (UK) from 2008 to 2020

Description: This statistic represents the number of retail enterprises selling watches and jewelry in specialized stores in the United Kingdom (UK) from 2008 to 2019. Between 2008 and 2012 there was a steady decline in the number of specialized jewelry stores in the UK, with 3,937 enterprises operating in 2012. Since then store numbers have fluctuated and amounted to 4,218 stores in 2020.

 

最終的な考え: The retail sector plays a vital role in the watches & jewelry industry, with steady growth in sales value and volume. The UK’s specialized retail stores contribute significantly to the country’s non-financial business economy. Understanding consumer preferences and market trends is essential for retailers to effectively cater to the demands of watch and jewelry enthusiasts.

 

Chapter 04 Leading brands

Introduction: In this chapter, we explore the leading brands within the watches & jewelry industry, focusing on Signet Jewelers in the United Kingdom (UK). We examine the sales and number of stores operated by Signet Jewelers in the UK from fiscal years 2014 to 2020, with a specific emphasis on their brands, H.Samuel and Ernest Jones. By analyzing these key metrics, we gain insights into the market presence and performance of these prominent brands.

 

Sales of Signet Jeweler in the United Kingdom and Republic of Ireland in fiscal year 2019, by brand (in million GBP)

Description: This statistic shows the total sales by brand for Signet Jewelers in the United Kingdom (UK) in fiscal year ended February 2, 2019. Over the course of the year, a total of 576.5 million British pounds were made from both H.Samuel and Ernest Jones store brands in the UK.

 

Number of stores operated by Signet Jewelers in the United Kingdom (UK) from fiscal year 2014 to fiscal year 2020, by brand*

Description: This statistic shows the number of stores operated by Signet Jewelers in the United Kingdom (UK) and Republic of Ireland, shown by brand (H Samuel and Ernest Jones) open at the end of the fiscal years from 2014 to 2020. Over this period there was an

overall increase in the number of stores, from 493 stores in 2014 to 508 stores open in 2017. However, the number of stores fell to 451 in 2020.

 

 

Sales of H.Samuel in the United Kingdom (UK) from fiscal year 2014 to fiscal year 2019* (in million GBP)

Description: This statistic shows the total sales for H.Samuel in the United Kingdom between the fiscal years 2014 to 2019. Since 2016 the company’s sales have decreased slightly, but with the 2018 fiscal year went up to 278 million British pounds.

 

Sales of Ernest Jones in the United Kingdom (UK) from fiscal year 2014 to fiscal year 2019* (in million GBP)

Description: This statistic shows the total sales of Ernest Jones from fiscal year 2014 to 2018. Between 2017 and 2019, the company saw a decline in sales, with the 2019 fiscal year ending at 186 million British pounds.

 

Number of stores for Ernest Jones in the United Kingdom (UK) from the fiscal year 2014 to the fiscal year 2019*

Description: This statistic shows the total number of stores of Ernest Jones in the United Kingdom (UK) at the end of the fiscal years from 2014 to 2019. Despite an overall increase in the number of stores over the five year period, the store numbers between 2017 and 2019 declined. At the end of the 2018 fiscal year, the total number of stores was 203, one less than in 2017. In 2019, the total number of stores fell to 189.

 

Final Thought: Signet Jewelers, with its brands H.Samuel and Ernest Jones, has established a significant market presence in the UK’s watches & jewelry industry. The performance of these brands, as reflected in sales and store numbers, provides valuable insights into consumer preferences and brand loyalty. Studying leading brands helps stakeholders identify successful strategies and adapt to evolving market dynamics.

 

Chapter 05 Consumer expenditure

 

Introduction: In this chapter, we examine consumer expenditure on watches, jewelry, clocks, and related items in the United Kingdom (UK). We analyze the total consumer spending and annual expenditure on these products from 2005 to 2022, based on both value and volume. Additionally, we explore the number of people purchasing different categories of jewelry and watches, categorized by expenditure. Through these insights, we gain a comprehensive understanding of consumer behavior and spending patterns in the UK’s watches & jewelry industry.

 

Consumer spending on jewelry, clocks and watches in the United Kingdom (UK) from 2005 to 2022 (in million GBP)

Description: This statistic shows total consumer spending on jewelry, clocks and watches in the United Kingdom (UK) from 2005 to 2022. In 2022, consumer spending was approximately 11.3 billion British pounds, an increase from the previous year.

 

Annual expenditure on jewelry, clocks, and watches in the United Kingdom (UK) from 2005 to 2022, based on volume (in million GBP)

Description: This statistic shows the total annual expenditure on jewelry, clocks, and watches in the United Kingdom (UK) from 2005 to 2022, based on volume. In 2022, UK households purchased approximately 10.5 billion British pounds worth of jewelry, clocks, and watches.

 

Number of people purchasing jewelry (excluding gold, platinum, and silver) in Great Britain from 2015 to 2020, by expenditure (in 1,000s)

Description: This statistic shows the number of people purchasing jewelry (excluding gold, platinum and silver) in Great Britain from 2015 to 2020, by expenditure. In 2020, an estimated 36.600 people spent 500 British pounds or more on jewelry in the previous 12 months.

 

Number of people purchasing gold or platinum jewelry with diamonds in Great Britain from 2015 to 2020, by expenditure (in 1,000s)

Description: This statistic displays the number of people purchasing gold or platinum jewelry with diamonds in Great Britain from 2015 to 2020, by expenditure. In 2020, an estimated 305 thousand people spent 500 British pounds or more on gold or platinum jewelry with diamonds in the 12 months prior to the survey.

 

Number of people purchasing gold or platinum jewelry (without

diamonds) in Great Britain from 2015 to 2020, by expenditure (in 1,000s)

Description: This statistic displays the number of people purchasing gold or platinum jewelry (without diamonds) in Great Britain from 2015 to 2020, by expenditure. In 2020, an estimated 122 thousand people spent 500 British pounds or more on gold or platinum jewelry in the 12 months prior to the survey.

 

Number of people purchasing silver jewelry in Great Britain from 2015 to 2020, by expenditure (in 1,000s)

Description: This statistic depicts the number of people purchasing silver jewelry in Great Britain from 2015 to 2020, by expenditure. In 2020, an estimated 38.500 people spent 500 British pounds or more on silver jewelry within 12 months prior to the survey.

 

Number of people purchasing watches in Great Britain from 2013 to 2020, by expenditure (in 1,000s)

Description: This statistic shows the number of people purchasing watches in Great Britain from 2013 to 2020, by expenditure. In 2020, an estimated 622 thousand people spent 200 British pounds or more on watches in the previous 12 months.

 

最終的な考え:

Consumer spending on watches, jewelry, and related items in the UK showcases consistent growth, highlighting the enduring appeal of these products. By understanding consumer preferences and purchasing patterns, businesses can tailor their offerings to meet the evolving demands of the market. Analyzing consumer expenditure provides valuable insights for both retailers and manufacturers in the watches & jewelry industry.

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The watches and jewelry industry continues to shine brightly, capturing the attention of consumers and investors alike. With the global revenue projected to reach staggering heights and the luxury market witnessing significant growth, it is evident that watches and jewelry remain highly sought-after accessories. From manufacturing and wholesale to retail sales, the sector presents numerous opportunities for businesses. As consumer expenditure and the number of people purchasing these items continue to rise, it’s clear that watches and jewelry hold a special place in the hearts and wardrobes of individuals worldwide. With evolving trends and new innovations on the horizon, the future of the watches and jewelry industry appears to be as timeless and valuable as the pieces themselves.

The fashion and accessories market in Poland has witnessed significant growth and changes over the years, reflecting the evolving preferences and lifestyles of its consumers. This market encompasses various segments, including clothing, footwear, leather goods, jewelry, and more. As one of the key industries in Poland, it plays a vital role in the country’s economy and cultural expression.

In this report, we will delve into the trends and developments in the fashion and accessories market in Poland, focusing on different aspects such as production, trade, retail, consumer behavior, and the impact of external factors like the COVID-19 pandemic. By analyzing data from various sources, we aim to provide a comprehensive overview of the industry’s current state, growth potential, and emerging opportunities.

 

01 Overview

The report begins with an overview of the fashion and accessories market in Poland, exploring key statistics related to the number of enterprises and employees in the manufacturing sector. We observe fluctuations in the number of businesses and workers, influenced by both internal and external factors.

We also delve into clothing and footwear production volumes and values, providing insights into the industry’s contribution to the economy. Additionally, we analyze the market’s value and growth, considering the impact of the COVID-19 pandemic on consumer spending patterns.

 

Number of enterprises in the manufacture of wearing apparel industry in Poland from 2009 to 2020

Poland: number of wearing apparel manufacturers 2009-2020

Description: The number of enterprises in the wearing apparel manufacturing industry in Poland decreased to 13,310 enterprises since the previous year. Nevertheless, the last two years in this industry recorded a significant higher number of enterprises than the preceding years.

 

Number of enterprises in the manufacture of footwear industry in Poland from 2010 to 2020

Poland: number of footwear manufacturers 2010-2020

Description: The number of enterprises in the footwear manufacturing industry in Poland decreased to 1,472 enterprises since the previous year. This marks the lowest number of enterprises in this industry during the observed period.

 

Total number of employees in the wearing apparel manufacturing sector in Poland from 2008 to 2020

Poland: employees in the wearing apparel manufacturing sector 2008-2020

Description: The number of employees in the wearing apparel manufacturing industry in Poland declined to 69,678 employees in 2020. In 2020, the number of employees thereby reached its lowest value in the recent years.

 

Total number of employees in the footwear manufacturing sector in Poland from 2009 to 2020

Number of employees in the footwear manufacturing sector 2009-2020

Description: The number of employees in the footwear manufacturing industry in Poland decreased by 3,146 employees (-18.18 percent) in 2020 in comparison to the previous year. This marks the lowest number of employees in this industry during the observed

period.

 

Clothing production in Poland from 2020 to 2022 (in 1,000s of units)

Production volume of apparel products in Poland 2020-2022

Description: In 2022, more than 2.1 million units of men’s or boy’s trousers, overalls, breeches, and shorts were produced in Poland. It is 1,201 thousand units more than the production of trousers, overalls, breeches, and shorts for women.

 

Production value of the manufacture of wearing apparel industry in Poland from 2009 to 2020 (in million euros)

Production value of the manufacture of wearing apparel in Poland 2009-2020

Description: In 2020, the production value of the wearing apparel manufacturing industry in Poland remained nearly unchanged at around 2.3 billion euros

 

Volume of footwear production in Poland from 2017 to 2022 (in 1,000 pairs)

Production volume of footwear in Poland 2017-2022

Description: In 2022, nearly 20.5 million pairs of shoes were produced in Poland, which constituted a decrease by over five percent compared to the previous year.

 

Volume of leather* production in Poland from 2017 to 2022 (in metric tons)

Production volume of leather in Poland 2017-2022

Description: The volume of leather produced in Poland decreased in the observed period. In 2022, nearly 5.7 thousand metric tons of leather were produced.

 

Value and growth of the clothing and footwear market in Poland from 2015 to 2021 (in billion zloty)

Market value of clothing & footwear in Poland 2015-2021

Description: Between 2015 and 2019, the clothing and footwear market value has increased steadily. It is estimated that the market will decline by 16.3 percent in 2020 due to the COVID-19 pandemic. However, in 2021, it is forecasted to grow to 37.6 billion zloty.

 

Net financial result in the clothing manufacturing sector in Poland from 2017 to 2022 (in million zloty)

Net financial result in the clothing sector in Poland 2017-2022

Description: Net financial results in the clothing manufacturing sector increased in the observed period in Poland by 15.1 percent. In 2022, amounted to over 309 million zloty.

 

02 Trade

The section on trade focuses on the import and export dynamics of apparel, footwear, and related products. We highlight leading suppliers and destinations, shedding light on Poland’s global trade connections in the fashion industry.

Apparel and clothing accessories imports and exports in Poland from 2017 to 2021 (in million euros)

Apparel and clothing accessories imports and exports in Poland 2017-2021

Description: In 2021, the exchange of goods on the apparel market in Poland increased. The import value increased by nearly 21 percent in comparison to the previous year, while the export value increased by nearly 27 percent.

 

Leading suppliers of apparel products imported into Poland in 2021,based on value (in million U.S. dollars)

Leading suppliers of apparel products imported into Poland 2021

Description: In 2021, Pakistan was the main supplier of apparel products to Poland, with imports valued at approximately 20.6 million U.S. dollars. India ranked second, with imports into Poland worth approximately 13 million U.S. dollars.

 

Leading destinations of apparel products exported from Poland in 2021, based on value (in million U.S. dollars)

Leading destinations of apparel products exported from Poland 2021

Description: In 2021, Germany was the leading export country for apparel products in Poland, with exports valued at approximately 25 million U.S. dollars. Spain ranked second, with exports from Poland worth about three million U.S. dollars.

 

Footwear imports and exports in Poland from 2017 to 2021 (in million euros)

Shoe imports and exports in Poland 2017-2021

Description: In 2021, the exchange of goods on the footwear market in Poland increased. The import value increased by more than 11 percent in comparison to the previous year, while the export value increased by over 14 percent.

 

Footwear and headgear imports and exports in Poland in 2021, by major countries (in 1,000 euros)

Shoe and headgear imports and exports in Poland 2021, by major countries

Description: In 2021, the largest exporter of footwear, headgear, etc., to Poland was China. The value of imports from China amounted to more than 1.33 billion euros. On the other hand, Poland’s most significant export of footwear and headgear was to Germany(one billion euros).

 

Imports and exports of travel goods, handbags, and similar containers in Poland from 2017 to 2021 (in million euros)

Bag imports and exports in Poland 2017-2021

Description: In 2021, the exchange of goods on the bag market in Poland increased. The import value increased by over n17.3 percent in comparison to the previous year, while the export value increased by 34.7 percent.

 

Imports and exports of leather, leather manufactures, and dressed furskins in Poland from 2017 to 2021 (in million euros)

Leather goods imports and exports in Poland 2017-2021

Description: In 2021, the exchange of goods in the leather market in Poland increased. The import value increased by 16 percent in comparison to the previous year, while the export value also grew by more than 11 percent.

 

03 Retail

In this section, we explore the retail landscape, including popular clothing and footwear brands, consumer preferences, and the shift towards online shopping. We investigate the reasons behind buying decisions, the most sought-after product features, and the impact of COVID-19 on retail sales.

Leading clothing and footwear brands in Poland in 2022, by value of brand (in million zloty)

Ranking of clothing and footwear brands in Poland 2022, by value

Description: The Polish clothing and apparel brand – Reserved opens the ranking of the most valuable clothing and footwear brands in Poland in 2022, followed by footwear chain CCC.

 

Number of retail stores with footwear and leather goods in Poland from 2017 to 2021

Number of retail stores with footwear and leather goods in Poland 2017-2021

Description: In 2021, the number of retail stores with footwear and leather goods in Poland decreased by 4.2 percent as compared to the previous year.

 

Most popular shops where consumers buy clothes and shoes in Poland in 2022

Popular shops with clothes and footwear in Poland 2022

Description: In 2022, 24 percent of respondents in Poland purchased clothes or footwear in the Reserved brand. H&M chain followed with 23 percent.

 

Most popular shops where consumers buy clothes and shoes in Poland in 2022, by gender

Popular shops with clothes and footwear in Poland 2022, by gender

Description: In 2022, H&M in Poland was more frequently visited by women (27 percent) than men (15 percent).

 

 

Most popular shops with clothing and footwear stores in Poland in 2022, by purchase channel

Most popular shops with clothing and shoes shops in Poland 2022, by channel

Description: The definite leader of traditional sales in Poland in 2022 was Reserved – as many as 54 percent of respondents were shopping there. In the online channel, this chain had a share of 27 percent. In the online channel the most popular was Zalando, with a

share of 38 percent.

 

Ranking of the highest rated online stores with clothing and footwear in Poland in 2022

Best online shops for clothing and footwear in Poland 2022, by the highest rate

Description: In 2022, online footwear store eobuwie.pl was at the top of the ranking of online shops with clothing and footwear in Poland, reaching almost 56 points in this category.

 

Average monthly per capita expenditure on clothing and footwear in Poland from 2000 to 2021 (in zloty)

Per capita average monthly spending on clothing and footwear in Poland 2000-2021

Description: Spending by Poles on clothing and footwear increased over the period observed. In 2021, consumers spent nearly 58 zloty per month on these products.

 

Gross and net return on sales in the clothing manufacturing sector in Poland from 2017 to 2022

Gross and net turnover profitability indicator in apparel market in Poland 2017-2022

Description: In 2018, the clothing manufacturing sector recorded the highest gross and net return on sales, with a ratio of 9.1 and 7.9 percent, respectively. In 2022, the net turnover profitability indicator decreased on the previous year, reaching seven percent.

 

Change in prices of clothing and footwear in Poland from 2015 to 2021

Prices of clothing and footwear in Poland 2015-2021

Description: In 2021, prices of clothing and footwear in Poland decreased by 0.2 percent compared to the previous year. According to the source, clothing prices dropped by 0.5 percent, and footwear increased by 0.8 percent.

 

Year-on-year retail sales index of clothing, textile, and footwear at constant prices in Poland from 2019 to 2021

Retail sales growth of clothing, textile and footwear in Poland 2019-2021

Description: In 2021, the retail sales index of clothing, textiles, and footwear at constant prices y/y increased by 32 percent compared to 2020 in Poland.

 

04 Companies

The companies section delves into the financial performance of key players in the Polish fashion and accessories market. We highlight revenue figures for well-known brands and analyze their growth trajectories.

Number of wearing apparel manufacturing enterprises in Poland from 2020 to 2021, by number of employees*

Number of apparel manufacturing enterprises in Poland 2020-2021, by employee number

Description: Out of the total of 1481, there were 1276 wearing apparel manufacturers in Poland, with 49 employees or less in 2021.

 

Number of textile manufacturing enterprises in Poland from 2020 to 2021, by number of employees*

Number of textile manufacturing enterprises in Poland 2020-2021, by employee number

Description: Out of the total of 818, there were 635 textile manufacturers in Poland, with 49 employees or less in 2021.

 

Number of leather goods manufacturing enterprises in Poland from 2020 to 2021, by number of employees*

Number of leather goods manufacturing companies Poland 2020-2021, by employee number

Description: Out of the total of 334, there were 284 leather goods manufacturers in Poland, with 49 employees or less in 2021.

 

Revenues of companies manufacturing apparel in Poland from 2015 to 2022 (in million zloty)

Revenues of enterprises producing apparel in Poland 2015-2022

Description: In the observed period, the revenues of enterprises producing apparel in Poland fluctuated. In 2022, these revenues amounted to approximately 5.3 billion zloty.

 

Revenue of the LPP S.A. group worldwide from 2006 to 2022* (in million zloty)

Revenue of the LPP S.A. group worldwide 2006-2022

Description: In 2022, LPP S.A. group’s revenue reached more than 15.9 billion zloty worldwide.

 

Financial results in the clothing and jewelry segment of VRG Capital Group in Poland in 2021 (in million zloty)

Financial results of the apparel and jewelry – VRG Capital Group in Poland 2021

Description: Revenues from sales of the clothing and jewelry segment of VRG Capital Group in Poland in 2021 amounted to nearly 1.1 billion zloty. Net profit from sales of apparel amounted to 386 million zloty.

 

Year-on-year change in revenue from the retail sale of CCC S.A. Capital Group’s footwear in Poland in 2021, by brand name (in million zloty)

Retail sales revenues of footwear company CCC S.A. in Poland 2021, by brand

Description: In the fourth quarter of 2021, one of the largest footwear retail companies in Poland and Central Europe recorded a 46 percent increase in revenues compared to the same period last year. The most growth by CCC stores.

 

Revenue from the sale of Wojas’ footwear in Poland from 2019 to 2022, by type of channel (in million zloty)

 

Sales revenues of footwear company Wojas in Poland 2019-2022, by channel

Description: In 2022, Wojas footwear company in Poland achieved consolidated net sales revenues of 331.5 million zloty, an increase by 13.4 percent compared to the same period last year. The most significant sales growth was recorded in offline retail sales (+33.9 percent y/y).

 

Revenue from the sale made by Wittchen in Poland from 2018 to 2022 (in million zloty)

Wittchen sales revenues in Poland 2018-2022

Description: In 2022, Wittchen, a producer of exclusive leather products in Poland, achieved a sales revenue of approximately 406 million zloty. This is an increase of 46.2 percent compared to the previous year. The highest sales came from the retail segment, reaching

over 345 million zloty.

 

Financial results of Answear.com* in Poland from 2020 to 2022 (in 1,000 zloty)

Financial results of Answear.com in Poland 2020-2022

Description: Year by year, the sales revenues achieved by Answear.com Polish online store increased. In 2022, the company also recorded a net profit of over 25.8 million zloty.

 

05 Consumption

Consumer behavior plays a pivotal role in shaping the fashion market. In this section, we examine household consumption expenditure on clothing and footwear, shedding light on the drivers behind consumer spending decisions.

Household consumption expenditure on clothing in Poland from 2009 to 2021 (in million zloty)

Consumer spending on clothing in Poland 2009-2021

Description: The annual consumption expenditure of households on clothing in Poland increased by 8.2 billion Zloty (+16.68 percent) in 2021. With 57.2 billion Zloty, the annual consumption expenditure of households thereby reached its highest value in the observed

period. Notably, the annual consumption expenditure of households in this industry has been, with the exception of 2020, continuously increasing over the last years.

 

Household consumption expenditure on footwear in Poland from 2009 to 2021 (in million zloty)

Consumer spending on footwear in Poland 2009-2021

Description: The annual consumption expenditure of households on footwear in Poland increased significantly by 4.6 billion Zloty (+35.05 percent) in 2021. With 17.6 billion Zloty, the annual consumption expenditure of households thereby reached its highest value in the observed period.

 

Why do you prefer buying clothes in a brick-and-mortar stores?

Reasons for buying clothes in-store in Poland 2022

Share of people buying clothes and footwear online in Poland 2020-2022

Description: In 2022, the main reasons consumers bought clothes in traditional stores in Poland were the possibility to see and touch the product and buy them outright.

 

Share of people purchasing clothes, footwear, and accessories online in Poland from 2020 to 2022

Share of people buying clothes and footwear online in Poland 2020-2022

Description: In 2022, nearly 73 percent of Poles who buy clothes, shoes, and accessories regularly used the online channel for this purpose.

 

Most important product features when making a purchase of clothes in Poland in 2022

Most important product features when making a clothing purchase in Poland 2022

Description: In 2022, the most important product feature when purchasing clothes in Poland was the right price. Following was high-quality material that is durable and repairable, with 60 percent of votes from respondents

 

Channels where consumers look for fashion products in Poland in 2022

Channels where consumers look for fashion products in Poland 2022

Description: In 2022, 42 percent of Polish respondents were looking for fashion products on portals such as Allegro, Amazon, Facebook, and Aliexpress. On the other hand, around 10 percent were looking to buy fashion products via social media.

 

Reasons why people are buying clothing or other fashion products in Poland in 2022

Reasons why people are buying clothing or other fashion products in Poland 2022

Description: In 2022, more than half of the respondents in Poland were buying clothing or other fashion products to look good, and almost half of Poles had to replace the old product with a new one.

 

Reasons for wearing clothes from Polish fashion brands in Poland in 2022

Reasons for wearing clothes from Polish fashion brands 2022

Description: In 2022, over half of Polish respondents wore clothes from Polish fashion brands because they were comfortable and of good quality. On the other hand, 44 percent chose them due to their favorable price.

 

What convinces you of a certain fashion brands in Poland in 2022

Reasons for choosing a fashion brand in Poland 2022

Description: In 2022, the fashion brand’s style convinced almost half of the Polish respondents. In addition, the design influenced 36 percent of people.

 

Reasons for using used clothes over new in Poland in 2022

Reasons for using used clothes over new in Poland 2022

Description: In 2022, half of the respondents in Poland stated that the main reason why they were using used clothes over new ones was their cheap purchase.

 

06 COVID-19 impact

The COVID-19 pandemic had a profound impact on various industries, including fashion. In this section, we delve into how the pandemic affected consumer behavior, production, sales, and the emergence of e-commerce as a dominant channel for fashion shopping.

Change in sales of FMCG products due to coronavirus (COVID-19) outbreak in Poland between February and May 2020, by product category

Increase in sales of FMCG products due to COVID-19 Poland 2020, by product category

 

Description: The outbreak of the coronavirus epidemic in Poland in March 2020 had a significant impact on the purchase changes in Poles, which translated into the volume of product sales. In the period from February to March, the highest sales increase was recorded for products from the health category, such as dietary supplements or OTC drugs. The most significant drop was observed in the sale of cosmetics and perfumes, by as much as 41 percent.

 

Change in sold production of industry in Poland between 2020 and 2022, by sector

Sold production of industry in Poland 2022, by sector

Description: In March 2020, industry’s sold production was 2.3 percent lower than in March 2019. After eliminating the impact of seasonal factors in Poland, the drop in production in March was even higher and amounted to 4.8 percent year-on-year. In most of theleading industrial groups, a decrease in production was recorded in March on an annual basis. The output of cars fell by 29 percent, and pharmaceuticals increased by 40 percent. In April, the industry’s sold production was 24.6 percent lower.

 

Change in the turnover of stores operating in shopping centers due to thecoronavirus (COVID-19) outbreak in Poland in March 2020, by product category

Turnover change of stores operating in shopping centers due to COVID-19 Poland 2020

Description: In March 2020, the turnover of tenants operating in monitored shopping centers Poland decreased by 62 percent compared to the previous year. The most significant falls were recorded by the fashion industry (73 percent y/y).

 

Which shops will you visit in the first place when they reopen after the coronavirus (COVID-19) lockdown?

Type of shops you will visit after reopening due to COVID-19 lockdown in Poland 2020

Description: The Polish Prime Minister announced that as of May 4, 2020, shopping centers in Poland would be reopened after the coronavirus (COVID-19) lockdown. Their availability will be gradually resumed due to the introduced restrictions (person limits, the closing of restaurants in shopping malls). After the reopening of shopping centers, over 38 percent of Poles will visit clothing stores. The second type of shops that the respondents plan to visit in the first place will be interior and garden equipment

 

Cancelled orders of clothing manufacturers due to the coronavirus (COVID-19) outbreak in Poland in 2020

Cancelled orders of clothing manufacturers due to COVID-19 in Poland 2020

Description: Due to the crisis caused by the coronavirus epidemic in 2020, every second clothing manufacturer in Poland experienced order cancellations at the level of 50 and 99 percent.

 

Places where people bought clothes online during coronavirus (COVID-19) pandemic in Poland in 2021

Places where people bought clothes online during COVID-19 pandemic in Poland 2021

Description: In 2021, during the coronavirus (COVID-19) pandemic, Poles were most likely to buy clothes online through shopping platforms with a variety of products – 59 percent, chain stores – 44 percent, and shopping platforms dedicated to clothes – 30 percent.

 

Buying clothes online during coronavirus (COVID-19) pandemic, by age in Poland in 2021

Buying clothes online during COVID-19 pandemic, by age in Poland 2021

Description: In 2021, during the coronavirus (COVID-19) pandemic, the highest percentage of respondents aged 18-24 bought clothes online – 82 percent.

 

07 Outlook

Lastly, we offer insights into the future prospects of the fashion and accessories market in Poland. We provide revenue forecasts, predict trends in e-commerce, and analyze projected consumer spending patterns. By looking at the potential growth areas, we aim to equip stakeholders with valuable information for strategic decision-making.

 

Fashion e-commerce revenue forecast in Poland from 2017 to 2027 (in billion U.S. dollars)

Fashion e-commerce revenue forecast in Poland 2017-2027

Description: E-commerce fashion revenue in Poland is expected to grow to 7.6 billion U.S. dollars in 2027.

 

Revenue of the apparel market in Poland from 2014 to 2027 (in million U.S. dollars)

Revenue of the apparel industry in Poland 2014-2027

Description: The revenue in the apparel market in Poland was forecast to continuously increase between 2023 and 2027 by in total 4,132 million U.S. dollars (+26.5 percent). The revenue is estimated to amount to 19.7 billion U.S. dollars in 2027.Find further

information concerning the revenue in the apparel market by looking at countries similar to Poland, such as Czechia and Hungary.

Revenue of the footwear market in Poland from 2018 to 2028 (in million U.S. dollars)

Revenue of the footwear industry in Poland 2018-2028

Description: The revenue in the footwear market in Poland was forecast to continuously increase between 2023 and 2028 by in total 417.9 million U.S. dollars (+14.47 percent). The revenue is estimated to amount to 3.3 billion U.S. dollars in 2028.Find further

information concerning the revenue in the footwear market by looking at other countries, such as Thailand and Indonesia.

 

Revenue of the watches & jewelry market in Poland from 2013 to 2026 (in million U.S. dollars)

Revenue of the watches & jewelry industry in Poland 2013-2026

Description: The revenue in the watches & jewelry segment of the accessories market in Poland was forecast to continuously increase between 2023 and 2026 by in total 82.8 million U.S. dollars (+10.15 percent). The revenue is estimated to amount to 898.88 million

U.S. dollars in 2026.Find further information concerning the Accessories market and its segments. Here you can find the revenue concerning the accessories market in Thailand and the revenue concerning the accessories market in Indonesia.

 

Total consumer spending on clothing and footwear in Poland from 2013 to 2028 (in million U.S. dollars)

Total consumer spending on clothing and footwear in Poland 2013-2028

Description: The total consumer spending on clothing and footwear in Poland was forecast to continuously increase between 2023 and 2028 by in total 9.77 billion U.S. dollars (+37.67 percent). The fashion-related spending is estimated to amount to 35.7 billion U.S.

dollars in 2028.

 

Real per capita consumer spending on clothing and footwear in Poland from 2013 to 2028 (in U.S. dollars)

Real per capita consumer spending on clothing and footwear in Poland 2013-2028

Description: The real per capita consumer spending on clothing and footwear in Poland was forecast to continuously increase between 2023 and 2028 by in total 639.3 U.S. dollars (+62.34 percent). After the fifth consecutive increasing year, the real fashion-related per capita spending is estimated to reach 1.66 thousand U.S. dollars and therefore a new peak in 2028. Notably, the real per capita consumer spending on clothing and footwear was continuously increasing over the past years.

 

Value of the luxury clothing, footwear and accessories market in Poland from 2014 to 2026 (in million zloty)

Value of the luxury clothing, footwear and accessories market in Poland 2014-2026

Description: In 2021, the value of the luxury clothing, footwear, and accessories market reached over 2.9 billion zloty in Poland. According to the forecasted average annual growth of 3.5 percent, the value of the segment will exceed 3.5 billion zloty in 2026.

 

Final Thought

The fashion and accessories market in Poland is a vibrant and dynamic industry that continues to evolve with changing consumer preferences and technological advancements. As Poland emerges as a prominent player in the global fashion arena, it presents exciting opportunities for businesses and investors. By understanding the current trends and future outlook, stakeholders can make informed decisions to thrive in this competitive market.

Step into the world of luxury watches, explore a SWOT analysis, shedding light on strengths, weaknesses, opportunities, and threats in this refined realm. This assessment is your compass through the dynamic luxury watches market from 2023 to 2030, guiding strategies by uncovering internal capabilities and external forces. A market research tool for watch manufacturers, it maximizes strengths, exploits opportunities, and mitigates weaknesses and threats—a perceptive snapshot before venturing into microbrand building or investment.

This market research tool is your essential companion, ensuring informed decisions as you embark on the path of building or investing in a microbrand. If you’re still on the fence about getting into this market, check out this analysis.

What does SWOT mean?

SWOT means: Strengths, Weaknesses, Opportunities and Threats.

SWOT Analysis on Wikepedia

 

What does SWOT mean for customized watches and why is it important to analyze it?

 

A SWOT analysis helps to establish what a company does well, address its shortcomings, minimize risk, and maximize opportunities for success. It can be used as a guide rather than a prescription.

 

This approach can be used to initiate strategy development or is better suited as a serious strategy tool. Companies can also use it to understand their competitors, providing the insights needed to build a coherent and successful competitive position.

 

By analyzing the SWOT of customized watches, there is some reference significance for some customers who have just entered this industry, whether to make their own brand of watches, or to sell other people’s brand of watches or neutral brand of watches, after analyzing them, they will probably have some decisions of their own.

 

In short, identifying core strengths, weaknesses, opportunities and threats can lead to fact-based analysis, fresh perspectives and unique ideas. So let’s get started with our SWOT analysis of customized watches.

Below are the SWOT analysis of Customized Watches’

Strengths: Advantages of Customized Watches or Luxury Watches for Customers

look at the key internal factors of its business to locate the strengths of customized watches , which gives it a competitive advantage and strengthens its position in the market.

Strengths of customized or luxury watches:

• Customization Potential: Men’s and women’s models, sizes, straps, colors, and more can be customized, enhancing watch popularity and customer appeal.
• Brand Development: Owning your brand offers significant benefits, enabling price premium and the potential for subsequent product development.
• Market Flexibility: You can choose your market position, whether niche, popular, expensive, or affordable, and modify marketing methods accordingly.
• Control Over Quality and Pricing: Complete control over prices and quality without interference from dealers, distributors, or manufacturers.
• Part-time or Full-time Venture: The flexibility to operate the business part-time or full-time allows for a balanced lifestyle.
• Diverse Sales Channels: Leveraging e-commerce and other services broadens avenues for watch sales and customer reach.
• Expanded Product Line: If selling clothing or jewelry, watches can complement your product range, creating a comprehensive brand series.
• Movement Options: Choose from Swiss movements for high-end quality or cost-effective Japanese movements.
• Retail and Wholesale Options: Retail or wholesale opportunities are available, with minimal storage requirements and manageable battery replacement costs.
• Watch Store Integration: If you own a watch store, you can retail your brand alongside other established watch brands.
• Exceptional Customer Service: Offering excellent customer service sets you apart, fostering customer loyalty and positive word-of-mouth.
• Value-Added Services: Providing repairs, appraisals, and customization adds value and generates additional revenue streams.
• Cross-Selling Potential: Cross-sell other products from your range as customers seek one product, boosting sales opportunities.
• Bargaining Power: Sourcing from diverse manufacturers and distributors empowers bargaining, reducing costs and boosting profits.
• Historical heritage that makes other products irreplaceable: A rich cultural history, high demand from loyal consumers, and a wide range of product choices make the industry attractive to businesses, investors, and consumers.

Weaknesses: Disadvantages of Customized Watches or Luxury Watches for Customers

Weaknesses – Unveiling Areas of Improvement: Examine the vulnerabilities within the luxury watches market. Assess factors like production challenges, pricing pressure, evolving consumer preferences, or distribution complexities. Identify strategies to mitigate these weaknesses and enhance overall competitiveness.

 

Weaknesses of customized or luxury watches:

• High MOQ Limited Design Variety: High MOQ on Customized watches may limit customers to a single product style, potentially restricting customer choices.
• Inventory Challenges: Accumulating excessive inventory is a weakness, as it ties up capital and can lead to storage issues.
• High Overhead Costs: Significant investments in inventory, rent, utilities, marketing, and staffing contribute to high overhead.
• Appeal to Collectors: Small brand status may deter series watch collectors and enthusiasts who typically gravitate toward established brands.
• International Presence: Limited global presence due to small brand stature necessitates significant investment for international expansion.
• Low Consumer Awareness: Lack of publicity and marketing campaigns can result in low brand awareness among consumers.
• Absence of Dedicated Website: Operating without a dedicated website requires starting marketing efforts from scratch.
• Quality Control: A fragmented supply chain could compromise product quality and consistency. So the supplier control issue is a the key point
• Weak Supply Chain: An inadequate supply chain can lead to product delivery delays and customer dissatisfaction.
• Time-Intensive Design Process: Designing watches demands substantial time, patience, and effort.
• Supplier Communication: Customized watches requires long and effective communication.
• Intense Competition: Competition from larger brands with a substantial market share presents a significant challenge. The market is highly competitive, requiring a well-defined brand and niche to succeed
• Market Saturation: The watch market’s popularity has led to numerous retailers, intensifying competition and impacting profitability.
• Seasonal Demand: Seasonal fluctuations in watch demand can challenge steady year-round sales.
• Technological Impact: Advances in technology, particularly smartphone timekeeping, could diminish demand for traditional watches.
• Cell Phone Competition: Cell phones’ built-in timers provide an alternative to watch time-checking, potentially reducing watch demand.
• Limited Upgrades: People may resist upgrading watches as cell phones and other devices fulfill time-checking needs.

 

Opportunities: Customized Watches or Luxury Watches, opportunities on external competition

Opportunities – Glimpses of Growth: Explore emerging opportunities that lie ahead.Opportunities for any brand may include prospects for future growth.

Here are the opportunities of customized or luxury watches: :

• Promotions and Marketing: Utilize strategic promotions and marketing campaigns to boost watch popularity and reinforce brand positioning.
• Women’s Line Expansion: Introduce a dedicated women’s line to diversify the consumer base and capture a larger market share.
• Global Market Expansion: Enhance global presence and market penetration by strategically entering new international markets.
• Retail and Distribution Network: Capitalize on opportunities to expand the brand’s retail and distribution network on a global scale.
• Product Line Expansion: Explore possibilities to diversify the product range by introducing new models and expanding offerings.
• Emerging Market Focus: Tap into the potential of developing luxury markets, leveraging untapped opportunities for growth.
• Digital Watch Exploration: Venture into the digital watch segment as a strategic avenue for business expansion and innovation.
• Quality and Awareness Enhancement: Continuously improve product quality and brand awareness to foster growth and loyalty.
• Expanding Industry Opportunity: Embrace the expanding nature of the watch industry, particularly in the rapidly growing Asian market.

Threats: The Threats of Customized or Luxury Watches for Customers

Threats – Navigating External Pressures: Investigate external threats that could impact the luxury watches sector. Consider economic fluctuations, changing regulations, counterfeit concerns, and shifts in consumer behavior. Develop proactive strategies to safeguard against these potential risks.

Competition for custom watch brands comes primarily from smartwatches and market economics,

Threats of customized or luxury watches: :

• Fluctuating Market Conditions: Consumer purchasing patterns may be influenced by unpredictable market fluctuations, leading to cautious spending on luxury watches.
• Counterfeit Concerns: The presence of counterfeit or imitation watches in the market poses a risk to brand credibility and sales.
• Fierce competition: many brands of watches, more miscellaneous brands, quality is not the same, the majority of small-scale, a wide range of products
• Economic Impact: Economic instability can lead to reduced consumer confidence and discretionary spending on luxury items like watches.
• Shifting Fashion Preferences: Evolving fashion trends can sway consumer choices, impacting the demand for traditional luxury watches.
• Smartwatch Popularity: The rising popularity of smartwatches, especially among younger generations, may divert attention from traditional luxury timepieces.
• Competitive Landscape: Intense competition from various watch brands can potentially lead to pricing pressures and market share battles.
• Upsurge of High-End Smartwatches: The growth of high-end smartwatches and wearables in the luxury segment presents both competition and adaptation challenges.
• Tariff Uncertainties: High tariffs pose a notable threat to watchmaking, affecting production costs and potentially influencing pricing strategies.

 

In all, technological advancements, counterfeit products, and a shift in consumer preferences to alternative forms of timekeeping may impact the industry’s growth and profitability.

 

Strategic Recommendations – Crafting the Path Forward

This recommendation will for you to enhance the luxury watches market’s resilience and growth trajectory in the years ahead.

• Diversified Design Options: Expand customization choices to encompass a wider range of designs, enabling customers to select from a diverse array of styles and features.
• Optimized Inventory Management: Implement efficient inventory management systems to mitigate excessive stock accumulation and associated carrying costs.
• Brand Strengthening: Invest in robust branding and marketing initiatives to enhance brand recognition, especially among series watch collectors and enthusiasts.
• Global Market Expansion: Develop a comprehensive international expansion strategy, focusing on building a formidable presence in key markets to attract a diverse global customer base.
• Digital Presence Establishment: Establish a prominent online presence with a dedicated website, leveraging digital marketing and e-commerce platforms to expand brand reach.
• Supply Chain Enhancement: Collaborate closely with suppliers to establish a well-coordinated supply chain, ensuring consistent product quality and timely delivery.
• Distinctive Identity: Emphasize unique design elements and craftsmanship to differentiate the brand from competitors, creating a compelling brand identity.
• Customer-Centric Approach: Foster a strong customer engagement strategy, including personalized interactions, post-sales services, and loyalty programs to enhance customer satisfaction and loyalty.
• Strategic Partnerships: Explore collaborations with renowned designers, influencers, or brands to enhance brand credibility and expand reach.
• Sustainability Focus: Incorporate sustainable practices, such as eco-friendly materials and ethical sourcing, to appeal to environmentally conscious consumers.
• Continuous Innovation: Cultivate a culture of innovation to continually refresh product offerings, staying attuned to evolving consumer preferences and emerging trends.
• Data-Driven Decision-Making: Utilize data analytics to gain insights into customer behavior and market trends, enabling informed decisions and targeted strategies.
• Stringent Quality Control: Prioritize rigorous quality control measures to ensure each customized watch meets the highest standards, building trust among customers.
• Flexibility and Adaptability: Maintain flexibility in business operations to quickly respond to market changes and consumer demands, ensuring sustained competitiveness.
• Value-Added Services Expansion: Broaden value-added services such as repairs, appraisals, and customization to enhance customer experiences and generate additional revenue streams.
• Cross-Promotion Strategies: Leverage cross-selling opportunities by promoting other products within the brand’s range to boost sales and customer engagement.
• Operational Efficiency: Continuously improve operational efficiency to optimize processes, reduce costs, and enhance overall business performance.
• Innovative Marketing Campaigns: Develop innovative marketing campaigns that resonate with target audiences and effectively communicate the brand’s unique value proposition.
• Strategic Pricing: Carefully analyze pricing strategies to strike a balance between value and affordability, considering market trends and customer perceptions.
• Continuous Learning: Stay attuned to industry developments, consumer preferences, and technological advancements to adapt and innovate as needed.
• Community Engagement: Cultivate a strong online and offline community presence to foster brand loyalty and encourage word-of-mouth marketing.
• Crisis Preparedness: Develop contingency plans to address potential disruptions in the supply chain or market dynamics, ensuring business continuity.

最終的な考え:

In the world of luxury watches, a SWOT analysis provides a roadmap for success. By assessing strengths, weaknesses, opportunities, and threats, watch manufacturers can make informed decisions to navigate the market’s complexities. From customization potential to global expansion and innovation, strategic actions can maximize strengths, mitigate weaknesses, seize opportunities, and counter threats. This comprehensive analysis and strategic recommendations ensure that the luxury watches market thrives in a rapidly evolving landscape, marking the journey towards prosperous microbrand building and investment.

Today an old customer sent me a message, He encountered problems with his new supplier and wanted to seek help from me.

They wanted to import a batch of watches but wanted a new supplier to do the FE, the new supplier gave him a very high quote, so he asked me how we shipped and get the Form E before. Then I helped the customer to solve the problem.

 

Then Let’s know more about the FORM E for our Indonesian customer

What is Form E?

Form E， short for FE, Also named Format E

Form E is the certificate of origin of China ASEAN Free Trade Area, which is only applicable to the certificate of origin between China and ASEAN countries. It is a preferential certificate of origin signed under the provisions of the China-ASEAN Framework Agreement on Comprehensive Economic Cooperation on Trade in Goods signed between China and ASEAN.

In China, the AQSIQ inspection and quarantine agencies located in various regions are responsible for issuing such certificates of origin. The certificate is brown in color and issued in four copies.

 

Why Indonesia Market Customers Need Form E

If you want to know why you need to use form e, then you need to know what FORM E does.

 

The certificate of origin is an effective certificate for trade relations to hand over goods, settle payments, claim claims, importing countries to clear customs and collect tariffs, and it is also a certificate for exporting countries to enjoy quota treatment and importing countries to implement different trade policies for different exporting countries.

 

Purpose: It’s a free trade agreement to create a unified market by reducing tariff and non-tariff barriers

 

In other words: Form E is used by ASEAN customers for customs clearance, and can be used to:

1. prove that the products were imported from China;
2. the local government will reduce import duties for you.

 

Which Countries Benefit from ASEAN Certificate of Origin?

The free trade Area countries benefiting are 10 ASEAN countries, including China, there are 10+1 countries

They are: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam to form a free trade area, which came into effect on January 1, 2010

 

Approximately how much duty can be reduced?

Take ASEAN as an example, it will have an average tariff reduction of 8%

 

What is the Difference Between a Certificate of Origin CO and FORM E?

In the process of communication, some customers will ask, “I have heard that the Certificate of Origin is not a Certificate of Origin. Then what is the difference between a Certificate of Origin (short for CO) and Form E? Can I just provide CO for customs clearance?

 

1、CO is a general certificate of origin, which can be applied for in any country to prove that the goods originate from China, without the effect of tariff reduction.

FORM E is the ASEAN GSP Certificate of Origin, which can be applied to 10 ASEAN countries to prove that the goods originated from China and that there are tariff preferences for customs clearance in the destination country.

 

2、CO is possible if you consider customs clearance alone, but there is no tariff reduction.

It is recommended to do FORM E for customers, FORM E can reduce the tariff for customers, which is indirectly beneficial to you, indicating that customers import from you at a low cost, which is conducive to future cooperation.

 

When Shipping to Indonesia Market, Notes on doing FORM E

To ensure that the Form E application is available and valid, you can remind your suppliers to do this before they apply to ensure that you can clear customs and reduce duties

 

The content of these files should remain the same as Form e.: the bill of lading, commercial invoice, packing list, and PI to be consistent, You need to send the original before arranging shipment to the customer.

 

Consistent means that the recipient, sender, cargo information, amount, unit price, etc. should be consistent

 

How to Avoid the Return of the Certificate?

• For goods exported to Indonesia, Thailand, the Philippines, and other countries, the customs clearance invoice should be consistent with the certificate of the exporter;
• for goods exported to Indonesia, Thailand, and other countries, the commercial documents and the description of the trade name on the certificate should be consistent;
• for goods transhipped through Hong Kong and Macao, regardless of whether the bill of lading shows, the relevant local departments should apply for “no reprocessing certificate” countersignature as early as possible;

 

Classification of Certificate of Origin

Certificates of origin are divided into 4 categories, they are

 

See below for details:

 

First, GSP Certificate of Origin (FORM A)

GSP certificate of origin is an official certificate with legal effect for our export products to enjoy further reduction of import tariff on the basis of the most favored nation rate in the country of preference.

At present, there are 38 countries that give GSP treatment to China:

27 countries of EU (Belgium, Denmark, Britain, Germany, France, Ireland, Italy, Luxembourg, Netherlands, Greece, Portugal, Spain, Austria, Finland, Sweden, Poland, Czech Republic, Slovakia, Latvia, Estonia, Lithuania, Hungary, Malta, Cyprus, Slovenia, Bulgaria, Romania ),

 

Norway, Switzerland, Turkey, Russia, Belarus, Ukraine, Kazakhstan, Japan, Canada, Australia and New Zealand.

 

Second, the general certificate of origin (CO)

General certificate of origin is to prove that the goods originated in a particular country or region, enjoy the normal tariff (most-favored-nation) treatment of the importing country’s supporting documents.

 

It is applicable to the imposition of tariffs, trade statistics, safeguard measures, discriminatory quantitative restrictions, anti-dumping and countervailing, origin marking, government procurement, etc.

 

Third, regional economic grouping reciprocal certificate of origin

At present, there are mainly

1. <China-ASEAN Free Trade Area>preferential certificate of origin,
2. <Asia-Pacific Trade Agreement>certificate of origin,
3. <China-Pakistan Preferential Trade Arrangement> preferential certificate of origin
4. <China-Chile Free Trade Area> certificate of origin, etc.

 

A Regional Preferential Certificate of Origin is an official certificate with legal effect to enjoy reciprocal tariff reduction and the exemption for specific products among member countries of the agreement.

 

1、Certificate of Origin of <Asia-Pacific Trade Agreement> (FORM B)

The Certificate of Origin has been issued since September 1, 2006. The countries are: Korea, Sri Lanka, India, Bangladesh, and the other 4 countries. The rate of tariff reduction ranges from 5% to 100%.

 

 

2、<China-ASEAN Free Trade Area> Preferential Certificate of Origin (FORM E)

 

Since January 1, 2004, all agricultural products exported to ASEAN (HS Chapter 1 to Chapter 8) can enjoy preferential tariff treatment by virtue of FORM E.

Since July 20, 2005, more than 7,000 kinds of normal products began to reduce tariffs across the board.

 

China and 6 old ASEAN member countries (i.e. Brunei, Indonesia, Malaysia, the Philippines, Singapore, and Thailand) to July 2005 40% tariff items to 0-5%;

 

January 2007 60% tariff items to be reduced to 0-5%. January 1, 2010, will be the final reduction of tariffs to zero.

 

Laos, Myanmar until January 2009, Cambodia until January 2012 50% tariff lines tariff reduction to 0-5%;

 

2013 40% tariff lines tariff reduction to zero. Vietnam reduced tariffs to 0-5% for 50% tariff lines in 2010.

 

the other four countries (Laos, Myanmar, Cambodia, and Vietnam) reduced tariffs to zero in 2015.

 

The countries that can issue certificates of origin are: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam, and other 10 countries.

 

FORM D is the certificate of origin of the ASEAN FTA, and FORM E is the preferential certificate of origin used in China-ASEAN FTA.

 

Remark: FROM D is the production area of ASEAN Free Trade Area, this ASEAN Free Trade Area actually does not include China, but for example, Thailand, Vietnam, Malaysia and other ASEAN countries between the certificate of origin.

 

Therefore, many ASEAN customers do not understand that China-ASEAN FTA is using FORM E, not FORM D, so they make such a request. So to engage in trade with ASEAN customers, it is fine as long as we provide FORM E.

 

3、China-Chile Free Trade Area Certificate of Origin (FORM F)

Since October 1, 2006, entry-exit inspection and quarantine agencies around the world have started to issue “China-Chile Free Trade Area Preferential Certificate of Origin” (FORM F), and the tariff of 5891 6-digit tariff items of products originating from China has been reduced to zero since that date.

 

4. <China and Pakistan Free Trade Area> Certificate of Origin (FORM P)

The preferential certificate of origin of the China-Pakistan Free Trade Area can be issued to Pakistan, and more than 3,000 tariff lines of products with tariff reduction implemented by both sides from January 1, 2006, will have zero tariff and preferential tariff respectively.

 

The tariff of 486 8-digit zero tariff items originating from China was reduced to “zero” on January 1, 2008,

 

and the preferential tariff of 486 8-digit zero tariff items originating from China will be implemented, with an average preferential rate of 22%.

 

The tariff preferences are given to the tariff-preferential range of goods from 1% to 10%.

 

5. Form L: China and Costa Rica

The tariff will come into effect on August 1, 2011. China and Costa Rica will implement zero tariffs for more than 90% of their respective products in phases.

 

Chinese textile raw materials and products, light industry, machinery, electrical equipment, vegetables, fruits, automobiles, chemicals, raw fur and leather, and Colombian coffee, beef, pork, pineapple juice, frozen orange juice, jam, fish meal, minerals, raw hides, and other products will benefit from the tariff reduction arrangement.

 

Enterprises can enjoy the tariff reduction with the certificate of origin.

 

6. China – New Zealand FTA Certificate of Origin

If the goods are re-exported to Chile via Hong Kong and Macao, after obtaining the certificate of origin, the exporter should hold the above certificate and relevant documents to Hong Kong and Macao China Inspection Company Limited to apply for “no further processing certificate. You can also reduce the tariff

7. China – Singapore FTA Certificate of Origin

In addition to the goods listed in the form of product-specific rules of origin, other products exported to Singapore that are to enjoy preferential tariff treatment under the Agreement must have a regional value component of no less than 40%.

8. China – Peru Free Trade Area Preferential Certificate of Origin.

9. Mainland China and Hong Kong and Macau

10. Mainland China and both sides of the Taiwan Strait Certificate of Origin

 

Fourth, the special certificate of origin

Special certificate of origin is the certificate of origin stipulated by international organizations and countries according to the special needs of policies and trade measures for specific products of a particular industry.

 

There are mainly certificates of origin for canned mushrooms exported to the EU,

1. Certificates of authenticity for tobacco, etc.
2. Certificate of origin for agricultural products exported to EU
3. Certificate of Origin for Tokoyi Wine.
4. Certificate of Origin for Tokoyi Wine to the EU

 

So, it is:

• FORM A is the official certificate with legal effect for our export products to enjoy a further reduction of import tariff on the basis of MFN rate in the country of preference.
• FORM B Certificate of Origin of Asia-Pacific Trade Agreement
• FORM C for non-multi-fiber textiles declaration, applicable to the main value or the main weight of raw materials belonging to hemp or silk, or the weight of wool contained therein does not exceed 17% of the textiles for multi-country declaration of origin (Multiple country declaration), declaring that the raw materials of goods are generated by several countries.
• FORM D is the certificate of origin of the ASEAN Free Trade Area
• FORM E is the preferential certificate of origin used in the China-ASEAN FTA
• FORM F is the “Golden Certificate” for Chilean exports
• FORM P is the Certificate of Origin for China-Pakistan Free Trade Area.
• Form L is China to Costa Rica

 

And in form, it will be more clear.

 

This means, for the above countries, when imports from China, you can also use the Certificate of Origin to reduce or eliminate Customs duties/import taxes.

 

When customers from these countries want to import in China, you can remind your watch manufacturer to do the following:

 

If you are a Chinese watch manufacturer (of course not only limited to this one product), if you (purchaser) from these countries, to order products in China, you can remind your customers, or purchasers to remind your Chinese suppliers that:

 

• Apply Certificate of Origin for Tax Refund
• Apply certificate before shipping, At least 15-30 days ahead.
• Be sure to confirm all information matches yourself so that you don’t lose money

 

Questions On Form E

1. Is the Supplier Column Written Down the Manufacturer’s Company Name or the Other Company’s Name? Can the Customer Declare the Customs?

In general, the point of contention is whether the names of the manufacturer and exporter are consistent, but in fact, If your exporter’s name is consistent with all the documents, it does not affect the buyer’s import customs clearance

So you can ask the customer what they required.

• If the customer does not require the shipper & the manufacturer to keep the same, you can choose to use the agent of the license as the exporter, and in the manufacturer column, you can still fill in the name of the watch manufacturer.
• If the purchaser company regulations, the exporter & manufacturer must be the same name and must be the name of the real manufacturer, then the manufacturer can only go to the local Trade Promotion Council or inspection and quarantine agencies or local commodity inspection agencies to apply, but the manufacturer is not sure Whether the application requirements have been met, the time or cost can not estimate.

 

2. Is it True that if Form E is Filled in with a Hong Kong Company, the Client （ Receiver ）will not have the Tax Deduction Benefit?

 

As long as the company is in China, there can be preferential treatment, Hong Kong is also a part of China

 

Final Thought

The above is about the benefits of Form e for Indonesian customers, as well as for some customers in free trade zones, if you are looking for Chinese watch suppliers or suppliers on the way, and feel that the price is too expensive, then you can calculate the price after the tax reduction, I believe that it must be beneficial to you to reduce costs and capture the market!