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Wrist Watch Market in India 2019

  • Report Code : 392139
  • Industry : Consumer Goods and Retail
  • Published On : Dec 2019
  • Pages : 67
  • Publisher : Netscribes
  • Format: WMR PPT FormatWMR PDF Format

Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Over the last decade, wrist watches have gained much popularity as a fashion accessory than a device for telling time. This recognition can be attributed to the high brand consciousness among millennial consumers, celebrity endorsement and aggressive marketing strategies adopted by fashion brands. Delhi, Mumbai and Bengaluru are the leading markets for wrist watches in India, in terms of sales volume.
Market insights
The wrist watch segment accounts for around 80% of the Indian timepiece market. The wrist watch market in India was valued at INR 94.55 Bn in 2018, and is expected to reach INR 192.74 Bn by 2024, expanding at a compound annual growth rate (CAGR) of ~13.21%, during the forecast period (2019-2024). In the past few years, smartwatches and premium watches have witnessed a significant growth in demand and popularity. These two are the main components which have attributed to the rapid growth of the wrist watch market. Slashed goods and services tax (GST) rates on luxury watches and increasing fashion consciousness among consumers have further accelerated the market growth. Moreover, with the progressing retail landscape and increase in Internet retailing, the sale of wrist watches is anticipated to experience a swift increase in the Indian market. However, the presence of counterfeit products is a major challenge for the market. The developing market for fitness bands and activity trackers as substitutes for smartwatches, also impedes the growth of the wrist watch market.
Market segment analysis
Based on the price range of products, the wrist watch market in India is segmented into mass price, economy price and premium price segments. In India, the mass price segment is operated mostly by the unorganized sector. The customer-base of the economy price segment is the highest and comprises mainly the millennial and working demography of the country. The revenue generated from the sale of products in the economy price segment accounted for ~37.95% of the overall market revenue in 2018. The demand for premium branded watches is predicted to expand at a rapid growth rate of ~13.75% during this period, owing to the increase in average disposable income, steady expansion of retail network by international fashion brands in tier II and tier III cities and increase in fashion consciousness among people.



Competition analysis
Some of the major players in the market include Titan Company Limited, Casio India Co. Private Limited, Rolex Watch Company Private Limited and Timex Group India Limited. Among these accomplished players, the industry is being led by Titan Company Limited, accounting for approximately 40% of the overall wrist watch market, for almost a decade. As a strategic move to capture higher market share, players are trying to diversify their product portfolios by introducing smart watches in their product portfolio. In 2019, the overall sales volume of smart watches in India was about 34,200 units. The companies are coming up with innovative ranges of products incorporated with new features and technologies that are likely to further intensify the competition.

Companies covered
• Timex Group India Limited
• Titan Company Limited
• Casio India Co. Private Limited
• Citizen Watches (India) Private Limited
• Fossil India Private Limited
• PA Time Industries (Maxima Watches)
• Rolex Watch Company Private Limited
• Swatch Group (India) Private Limited

Chapter 1: Executive summary 

Chapter 2: Socio-economic indicators

Chapter 3: Introduction
3.1. Market definition and structure

Chapter 4: Market overview
4.1. Wrist watch market in India - overview
4.1.1. Market size and growth forecast - based on value

Chapter 5: Market segmentation
5.1. Wrist watch market in India - segmentation
5.1.1. Wrist watch market in India - market share based on price category (%) (2018-2024)
5.1.1.1. Market share based on price category - mass price segment (2015-2024)
5.1.1.2. Market share based on price category - economy price segment (2015-2024)
5.1.1.3. Market share based on price category - premium price segment (2015-2024)
 
Chapter 6: Trade analysis
6.1. Export 
- Value-wise
- Volume-wise
- Country-wise
6.2. Import
- Value-wise
- Volume-wise
- Country-wise


Chapter 7: Market influencers
7.1. Market drivers 
7.2. Market challenges

Chapter 8: Competitive landscape
8.1. Porter's five forces analysis
8.2. Product benchmarking
8.3. Timex Group India Limited
      -Company information
-Business description
-Products/services
-Key people
-Financial snapshot
-Key ratios
-Key financial performance indicators
-Key business segments
-Key geographic segments
Note: Similar information covered for all other public companies. Private companies' data given on best effort basis.
8.4. Titan Company Limited
8.5. PA Time Industries (Maxima Watches) 
8.6. Casio India Co. Private Limited
8.7. Citizen Watches (India) Private Limited
8.8. Fossil India Private Limited 
8.9. Rolex Watch Company Private Limited
8.10. Swatch Group (India) Private Limited


Chapter 9: Recent developments 
9.1. Recent developments

Chapter 10: Appendix
10.1. Research methodology
10.2. About Netscribes
10.3. Disclaimer

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