BREAKING NEWS: Sales rise 10% for British watch retailers in January

Percentage change in value of watch sales Jan17

2017 has begun just as 2016 ended for watch retailers, with sales of models priced at over £1000 notching impressive year-on-year growth, but sales of cheaper pieces declining.

The latest data from retail analyst GfK shows the value of the entire UK market for all watches grew by 9.9% in January, compared to the same month in 2016, despite the volume of watch units sold declining by 10%.

The apparent contradiction is explained by the average transaction value (the price paid for each watch) rising by 22.1% over the past 12 months.

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The total value of watches priced at over £1000 rose by 23.1% in January, but the value of watches priced at under £100 and from £100 to £500 fell by 8.1% and 10% respectively.

The number of watches sold online in January registered a surprise fall of 2.5%, although rising average transaction prices meant the value of sales rose by 2.9%.

Looking at the data for evidence of fashion trends in watches, we see growth across watches with all types of strap: leather, metal and ‘others’ were all up around 10%, but the value of watch sales with ceramic straps fell by over 22%.

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Tags : GfKmarket researchRetail AnalysisTrend Reportwatch market
Rob Corder

The author Rob Corder