United Kingdom Luxury Watch Market Report and Forecast 2025-2034
Description
The United Kingdom luxury watch market reached approximately USD 1.35 Billion in 2024. The market is projected to grow at a CAGR of 3.20% between 2025 and 2034, reaching a value of around USD 1.85 Billion by 2034.
United Kingdom Luxury Watch Market Growth
The market has experienced a notable shift towards online shopping due to advancements in digital technology and evolving consumer behaviours. The UK's retail sales in 2021 reached £421 billion, marking a 4.5% increase from the previous year. Online sales accounted for 30% of this total, with expectations to rise to 33.5% within the next three years. Approximately 82% of the UK population made at least one online purchase in 2021. Key players in the UK's e-retail market include Amazon, ASOS, eBay, Missguided, N Brown Group, Net-a-Porter, and Very Group. Online platforms offer consumers the flexibility to explore and buy luxury watches at their convenience, a feature that traditional brick-and-mortar stores cannot replicate.
The demand for luxury watches as status symbols and investment pieces is fuelled by a substantial number of consumers with high disposable income levels. The increase in wealth among high-net-worth individuals and the expansion of the upper-middle class led to a rise in spending on luxury goods, such as watches. Exclusive brand boutiques and luxury retail stores in major cities like London offer consumers accessibility and a premium shopping experience.
The Watches of Switzerland Group, the UK's leading luxury watch and jewellery retailer, broadened its customer reach by launching additional stores in key locations. With an investment exceeding £1.5 million, the group inaugurated three new showrooms in Scotland as part of the initial phase of the £1 billion St James Quarter development in Edinburgh on June 24, 2021.
United Kingdom Luxury Watch Industry Segmentation
“United Kingdom Luxury Watch Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product:
Electronic
Mechanical
Market Breakup by Distribution Channel:
Online
Offline
Market Breakup by Region:
England
Wales
Scotland
Northern Ireland
United Kingdom Luxury Watch Market Share
Based on product, the market is segmented into electronic and mechanical. The mechanical segment is projected to grow at a CAGR of 3.6% during the forecast period of 2025-2034. A mechanical luxury watch embodies precision, artistry, and sophistication. In contrast to quartz watches that rely on battery-operated mechanisms, mechanical watches are driven by an intricate arrangement of gears, springs, and various components, frequently crafted by hand.
Leading Companies in the United Kingdom Luxury Watch Market
Major players are focusing on the adoption of technological advancement to gain a competitive edge in the market.
ROLEX SA.
The Swatch Group Ltd.
Bremont Watch Company Limited
Breitling SA
LVMH Moët Hennessy Louis Vuitton SE
Seiko Watch Corporation
Audemars Piguet
Richard Mille Group
Movado Group Inc.
Bell & Ross SARL
Others
United Kingdom Luxury Watch Market Growth
The market has experienced a notable shift towards online shopping due to advancements in digital technology and evolving consumer behaviours. The UK's retail sales in 2021 reached £421 billion, marking a 4.5% increase from the previous year. Online sales accounted for 30% of this total, with expectations to rise to 33.5% within the next three years. Approximately 82% of the UK population made at least one online purchase in 2021. Key players in the UK's e-retail market include Amazon, ASOS, eBay, Missguided, N Brown Group, Net-a-Porter, and Very Group. Online platforms offer consumers the flexibility to explore and buy luxury watches at their convenience, a feature that traditional brick-and-mortar stores cannot replicate.
The demand for luxury watches as status symbols and investment pieces is fuelled by a substantial number of consumers with high disposable income levels. The increase in wealth among high-net-worth individuals and the expansion of the upper-middle class led to a rise in spending on luxury goods, such as watches. Exclusive brand boutiques and luxury retail stores in major cities like London offer consumers accessibility and a premium shopping experience.
The Watches of Switzerland Group, the UK's leading luxury watch and jewellery retailer, broadened its customer reach by launching additional stores in key locations. With an investment exceeding £1.5 million, the group inaugurated three new showrooms in Scotland as part of the initial phase of the £1 billion St James Quarter development in Edinburgh on June 24, 2021.
United Kingdom Luxury Watch Industry Segmentation
“United Kingdom Luxury Watch Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product:
Electronic
Mechanical
Market Breakup by Distribution Channel:
Online
Offline
Market Breakup by Region:
England
Wales
Scotland
Northern Ireland
United Kingdom Luxury Watch Market Share
Based on product, the market is segmented into electronic and mechanical. The mechanical segment is projected to grow at a CAGR of 3.6% during the forecast period of 2025-2034. A mechanical luxury watch embodies precision, artistry, and sophistication. In contrast to quartz watches that rely on battery-operated mechanisms, mechanical watches are driven by an intricate arrangement of gears, springs, and various components, frequently crafted by hand.
Leading Companies in the United Kingdom Luxury Watch Market
Major players are focusing on the adoption of technological advancement to gain a competitive edge in the market.
ROLEX SA.
The Swatch Group Ltd.
Bremont Watch Company Limited
Breitling SA
LVMH Moët Hennessy Louis Vuitton SE
Seiko Watch Corporation
Audemars Piguet
Richard Mille Group
Movado Group Inc.
Bell & Ross SARL
Others
Table of Contents
115 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Europe Luxury Watch Market Overview
- 5.1 Key Industry Highlights
- 5.2 Europe Luxury Watch Historical Market (2018-2024)
- 5.3 Europe Luxury Watch Market Forecast (2025-2034)
- 6 United Kingdom Luxury Watch Market Overview
- 6.1 Key Industry Highlights
- 6.2 United Kingdom Luxury Watch Historical Market (2018-2024)
- 6.3 United Kingdom Luxury Watch Market Forecast (2025-2034)
- 7 United Kingdom Luxury Watch Market by Product
- 7.1 Electronic
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Mechanical
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 8 United Kingdom Luxury Watch Market by Distribution Channel
- 8.1 Online
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Offline
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 9 United Kingdom Luxury Watch Market by Region
- 9.1 England
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Wales
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 9.3 Scotland
- 9.3.1 Historical Trend (2018-2024)
- 9.3.2 Forecast Trend (2025-2034)
- 9.4 Northern Ireland
- 9.4.1 Historical Trend (2018-2024)
- 9.4.2 Forecast Trend (2025-2034)
- 10 Market Dynamics
- 10.1 SWOT Analysis
- 10.1.1 Strengths
- 10.1.2 Weaknesses
- 10.1.3 Opportunities
- 10.1.4 Threats
- 10.2 Porter’s Five Forces Analysis
- 10.2.1 Supplier’s Power
- 10.2.2 Buyer’s Power
- 10.2.3 Threat of New Entrants
- 10.2.4 Degree of Rivalry
- 10.2.5 Threat of Substitutes
- 10.3 Key Indicators of Demand
- 10.4 Key Indicators of Price
- 11 Competitive Landscape
- 11.1 Supplier Selection
- 11.2 Key Global Players
- 11.3 Key Regional Players
- 11.4 Key Player Strategies
- 11.5 Company Profiles
- 11.5.1 ROLEX SA.
- 11.5.1.1 Company Overview
- 11.5.1.2 Product Portfolio
- 11.5.1.3 Demographic Reach and Achievements
- 11.5.1.4 Certifications
- 11.5.2 The Swatch Group Ltd.
- 11.5.2.1 Company Overview
- 11.5.2.2 Product Portfolio
- 11.5.2.3 Demographic Reach and Achievements
- 11.5.2.4 Certifications
- 11.5.3 Bremont Watch Company Limited
- 11.5.3.1 Company Overview
- 11.5.3.2 Product Portfolio
- 11.5.3.3 Demographic Reach and Achievements
- 11.5.3.4 Certifications
- 11.5.4 Breitling SA
- 11.5.4.1 Company Overview
- 11.5.4.2 Product Portfolio
- 11.5.4.3 Demographic Reach and Achievements
- 11.5.4.4 Certifications
- 11.5.5 LVMH Moët Hennessy Louis Vuitton SE
- 11.5.5.1 Company Overview
- 11.5.5.2 Product Portfolio
- 11.5.5.3 Demographic Reach and Achievements
- 11.5.5.4 Certifications
- 11.5.6 Seiko Watch Corporation
- 11.5.6.1 Company Overview
- 11.5.6.2 Product Portfolio
- 11.5.6.3 Demographic Reach and Achievements
- 11.5.6.4 Certifications
- 11.5.7 Audemars Piguet
- 11.5.7.1 Company Overview
- 11.5.7.2 Product Portfolio
- 11.5.7.3 Demographic Reach and Achievements
- 11.5.7.4 Certifications
- 11.5.8 Richard Mille Group
- 11.5.8.1 Company Overview
- 11.5.8.2 Product Portfolio
- 11.5.8.3 Demographic Reach and Achievements
- 11.5.8.4 Certifications
- 11.5.9 Movado Group Inc.
- 11.5.9.1 Company Overview
- 11.5.9.2 Product Portfolio
- 11.5.9.3 Demographic Reach and Achievements
- 11.5.9.4 Certifications
- 11.5.10 Bell & Ross SARL
- 11.5.10.1 Company Overview
- 11.5.10.2 Product Portfolio
- 11.5.10.3 Demographic Reach and Achievements
- 11.5.10.4 Certifications
- 11.5.11 Others
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