Positive year for German watch market
A positive trend was already evident for the first nine months of the year and was maintained throughout the Christmas period. Between October and December, wristwatch sales increased by 18% year-on-year.
More than half of all watch purchases in Germany are made in specialist retailers, which therefore remain the number one place to shop for watches. This is above all the top choice for customers wishing to buy more expensive watches, with an average €282 being spent in specialist watch retailers in 2011. For fashion wristwatches, customers primarily shop at non-specialist retailers, which includes department stores, warehouses, mail-order, supermarkets and cash & carries, where the average amount spent on a watch is €72.
New brands penetrating the market
The fashion at present is not only for ceramic watch straps, but also for colorful straps made of silicone. In this segment, new brands are rapidly increasing their market share with distinctive product ranges. Established manufacturers are also responding to this trend and are offering fashionable wristwatches with plastic watch straps in neon colors. In the fourth quarter, there was significant growth of 16% in the segment of watches costing between €100 and €150.
The method
As part of its retail panel, GfK Retail and Technology regularly collects data on the sales of wristwatches from jewelers, watch specialist retailers and general stores in five different Western European countries, Germany, France, the UK, Italy and The Netherlands.
Source: GfK
The GfK Association was established in 1934 as a non-profit organization for the promotion of market research. Its membership consists of approximately 600 companies and individuals. The purpose of the Association is to develop innovative research methods in close cooperation with academic institutions, to promote the training and further education of market researchers, to observe the structures and developments in society, the economy and politics that play a key role in private consumption, and to research their effects on consumers. Survey results are made available to the membership. The GfK Association is a shareholder in GfK SE.
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