Luxury Watches - South Korea

  • South Korea
  • In 2024, the Luxury Watches market in South Korea is projected to generate a revenue of €1.73bn.
  • This market is anticipated to experience an annual growth rate of 4.21% (CAGR 2024-2028).
  • When compared to other countries worldwide, in China leads in terms of revenue, with €10,320m in 2024.
  • On a per capita basis, South Korea's revenue per person in 2024 amounts to €33.37.
  • South Korea's luxury watch market is experiencing a surge in demand, with affluent consumers seeking prestigious timepieces as a status symbol.

Key regions: India, United Kingdom, Japan, Singapore, United States

 
Marché
 
Région
 
Comparaison de régions
 
Monnaie
 

Analyst Opinion

eCommerce sales have high growth potential, yet they are comparatively underdeveloped in the Luxury Watches segment. The industry has been slow to embrace this sales channel out of an aversion to the high visibility on platforms whose content brands cannot completely control and because of an unwillingness to disrupt the well-functioning distribution structure, which still relies heavily on independent retailers and department stores. Instead, this digital space has been explored by design-focused online-only start-up brands in the mid-market to entry-level luxury region, which use the benefits of social media marketing. An example of this is Sweden’s Daniel Wellington.

Methodology

The Luxury Watches market is built on resources from the Statista platform as well as on in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. We evaluate the status quo of the market, monitor trends, and create an independent forecast regarding market developments of the global Luxury Watches industry.

Vue d’ensemble

  • Revenue
  • Analyst Opinion
  • Sales Channels
  • Key Players
  • Global Comparison
  • Methodology
  • Key Market Indicators
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