Japan Luxury Watch Market Introduction and Overview
According to SPER Market Research, the Japan Luxury Watch Market is estimated to reach USD XX billion by 2033 with CAGR of 7.46%.
The report includes an in-depth analysis of the Japan Luxury Watch Market, including market size and trends, product mix, Types, and supplier analysis. A luxury watch is a high-end timepiece with gorgeous design, precise engineering, and superb craftsmanship. Reputable and distinguished watchmakers who uphold the highest standards of craftsmanship and quality make it. Precious metals like gold, platinum, and stainless steel, as well as exquisite gemstones, are used to craft these timepieces, which are constructed from the best materials available. Their complicated movements and intricacies, which highlight the watchmaker's technical skill, are well known for their mechanical complexity.
- 2024: In Japan, the Luxury Watches market is expected to generate US$3.41 billion in revenue.
Market Opportunities and Challenges
The key element driving the market growth is the growing demand for luxury timepieces, which are symbols of elegance, quality, and sophistication due to Japan's strong cultural appreciation for craftsmanship and design. Furthermore, the nation's long-standing legacy of superb craftsmanship complements the high standards maintained by luxury watchmakers, elevating the value of luxury watches among Japanese consumers and favourably impacting the market's expansion. Additionally, the growing trend of giving luxury timepieces as corporate and special occasion gifts is boosting the market's expansion since luxury watches are seen as classy and timeless presents that appeal to discriminating consumers looking for one-of-a-kind and significant purchases. Additional considerations include the growing popularity of luxury brands, the rise in traditional gift-giving customs, and the explosive expansion of Japan's tourism sector.
Uncertainties or downturns in the economy might affect consumer spending on luxury goods, such as expensive watches. The demand for luxury goods may fluctuate in response to shifts in the economy and purchasing power. Traditional luxury watches may face competition from the growing popularity of smart watches and other digital gadgets. Customers, particularly younger ones, might favour multipurpose smart watches over conventional clocks. The market for luxury timepieces may be impacted by shifting consumer tastes and lifestyle patterns. Changes in fashion tastes or a trend toward simplicity could affect the allure of ornate and pricey watches. The luxury watch sector is frequently beset by problems pertaining to the grey market and counterfeiting. Products that are counterfeit have the potential to devalue a brand, and pricing and brand control may be impacted by the gray market, or unapproved sales channels.
Market Competitive Landscape
A thorough study of the market's competitive environment is also included in the report. The research includes information on competition analysis, including market structure, key player positioning, and top winning tactics, competitive dashboard, and firm evaluation quadrant. All significant companies have also been given thorough profiles. Some of major players are Seiko, Grand Seiko, Credor, Orient, Citizen, Casio, Minase, Hajime Asaoka, Kurono Tokyo, Kikuchi Nakagawaand and various others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By End User, By Distribution Channel
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| Regions covered | Kanto Region, Kinki Region, Central/ Chubu Region, Kyushu-Okinawa Region, Tohoku Region, Chugoku Region, Hokkaido Region, Shikoku Region
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| Companies Covered | Seiko, Grand Seiko, Credor, Orient, Citizen, Casio, Minase, Hajime Asaoka, Kurono Tokyo, Kikuchi Nakagawaand and various others.
|
COVID-19 Impact on Japan Luxury Watch Market
Like many other industries, the luxury watch business experienced supply chain interruptions as a result of manufacturing closures, travel restrictions, and difficulties with international shipping. During the pandemic, alterations in consumer behaviour and economic uncertainty resulted in a reduction in discretionary spending. Sales of luxury goods, such as watches, may have suffered because they are frequently regarded as non-essential purchases. The number of physical establishments closing or the amount of foot traffic decreasing has expedited the shift towards online sales platforms. Luxury brands had to modify their approaches in order to connect with customers on digital channels. During the epidemic, several buyers turned to pre-owned or antique luxury timepieces. As buyers looked for more affordable solutions, there was a surge in interest in the market for used luxury items, particularly timepieces.
Key Target Audience
- Affluent Consumers
- Watch Enthusiasts
- Executives and Professionals
- Gift Buyers
- Tourists and International Visitors
- Fashion and Style Influencers
Our in-depth analysis of the Japan Luxury Watch Market includes the following segments:
| By Type: | Analog WatchDigital Watch |
| By End User: | MenUnisexWomen |
| By Distribution Channel: | Offline StoresOnline Store |
Key Topics Covered in the Report
- Japan Luxury Watch Market Size (FY’2023-FY’2033)
- Overview of Japan Luxury Watch Market
- Segmentation of Japan Luxury Watch Market By Type (Analog Watch, Digital Watch)
- Segmentation of Japan Luxury Watch Market By End User (Women, Men, Unisex)
- Segmentation of Japan Luxury Watch Market By Distribution Channel (Online Store, Offline Stores)
- Statistical Snap of Japan Luxury Watch Market
- Expansion Analysis of Japan Luxury Watch Market
- Problems and Obstacles in Japan Luxury Watch Market
- Competitive Landscape in the Japan Luxury Watch Market
- Impact of COVID-19 and Demonetization on Japan Luxury Watch Market
- Details on Current Investment in Japan Luxury Watch Market
- Competitive Analysis of Japan Luxury Watch Market
- Prominent Players in the Japan Luxury Watch Market
- SWOT Analysis of Japan Luxury Watch Market
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Japan Luxury Watch Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Japan Luxury Watch Market Manufacturing Base Distribution, Sales Area, Type, Application
6.2. Mergers & Acquisitions, Partnerships, Type Launch, and Collaboration in Japan Luxury Watch Market
7. Japan Luxury Watch Market, By Type, 2019-2033 (USD Million)
7.1. Japan Luxury Watch Market Value Share and Forecast, By Type , 2023-2033
7.2. Analog Watch
7.3. Digital Watch
8. Japan Luxury Watch Market, By End User, 2019-2033 (USD Million)
8.1. Japan Luxury Watch Market Value Share and Forecast, By End User, 2023-2033
8.2. Men
8.3. Unisex
8.4. Women
9. Japan Luxury Watch Market, By Distribution Channel, 2019-2033 (USD Million)
9.1. Japan Luxury Watch Market Value Share and Forecast, By Distribution Channel, 2023-2033
9.2. Offline Stores
9.3. Online Store
10. Japan Luxury Watch Market Forecast, 2019-2033 (USD Million)
10.1. Japan Luxury Watch Market Size and Market Share
11. Japan Luxury Watch Market, By Type, 2019-2033 (USD Million)
11.1. Japan Luxury Watch Market Size and Market Share By Type (2019-2026)
11.2. Japan Luxury Watch Market Size and Market Share By Type (2027-2033)
12. Japan Luxury Watch Market, By End User, 2019-2033 (USD Million)
12.1. Japan Luxury Watch Market Size and Market Share By End User (2019-2026)
12.2. Japan Luxury Watch Market Size and Market Share By End User (2027-2033)
13. Japan Luxury Watch Market, By Distribution Channel, 2019-2033 (USD Million)
13.1. Japan Luxury Watch Market Size and Market Share By Distribution Channel (2019-2026)
13.2. Japan Luxury Watch Market Size and Market Share By Distribution Channel (2027-2033)
14. Japan Luxury Watch Market, By Region, 2019-2033 (USD Million)
14.1. Japan Luxury Watch Market Size and Market Share By Region (2019-2026)
14.2. Japan Luxury Watch Market Size and Market Share By Region (2027-2033)
14.2.1. Central/ Chubu Region
14.2.2. Chugoku Region
14.2.3. Hokkaido Region
14.2.4. Kanto Region
14.2.5. Kinki Region
14.2.6. Kyushu-Okinawa Region
14.2.7. Shikoku Region
14.2.8. Tohoku Region
15. Company Profile
15.1. Casio
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Type summary
15.1.4. Recent developments
15.2. Citizen
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Type summary
15.2.4. Recent developments
15.3. Grand Seiko
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Type summary
15.3.4. Recent developments
15.4. Hajime Asaoka
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Type summary
15.4.4. Recent developments
15.5. Kikuchi Nakagawa
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Type summary
15.5.4. Recent developments
15.6. Orient
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Type summary
15.6.4. Recent developments
15.7. Seiko
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Type summary
15.7.4. Recent developments
15.8. Others
15 List of Abbreviations
16 Reference Links
17 Conclusion
18 Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
