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India Watch Industry Outlook to 2018

Premium Segment and Online Retail to Lead the Growth

Region:Asia

Product Code:KR93

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Published On

October 2013

Total pages

144

About the Report

 The report titled 'India Watch Industry Outlook to 2018 - Premium Segment and Online Retail to Lead the Growth' provides a comprehensive analysis of the various aspects such as market size, segmentation, trends and developments and future projections of the mass, mid and premium price wrist watches as key segments of the market. The report provides the market share of the major brands and company profiles of key players/ brands in all the major segments (mid, affordable luxury, luxury and super luxury) The report also covers the online watch industry and wall clock segment in India and provides market size and future projections of economy, mid and premium price wall clocks as three segments of the wall clock industry in the country.
 
The Indian watch market for timepieces has grown at a rapid pace in the past few years clocking a CAGR of 9.3% for the period FY'2008-FY'2013. The market for timepieces includes wrist watches, table clocks, alarm clocks and wall clocks. But the market for wrist watches formed the major proportion of the market for time pieces with a contribution of about 89% in the total watch market in the country by revenue while the market for wall clocks formed the rest of the market share of 11% in FY'2013.
The wristwatch market has grown in terms of value from INR 33,731.0 million in FY'2008 to INR ~ million in FY'2013. The wrist watches market in India can be classified into three broad categories based on price. The first is the mass price segment consisting of watches priced lower than INR 1,000 which are mainly the wrist watches sold by the unorganized players. The second category is the mid price segment of watches priced between INR 1,000 and INR 10,000. The third is the premium watch segment with watches priced above INR 10,000.
 
In India, the mass segment of watches contributes the highest to the market in terms of volume. On the other hand, in terms of value, each of the mass and the mid price segments contribute about 37%-38% to the total wristwatch market in India. The rest is contributed by the premium segment which constitutes around 25% of the INR ~ million wristwatch industry in India.
 
The premium wrist watch market has been the fastest growing segment in the Indian wrist watch industry during FY'2008-FY'2013. As the size of the population with high disposable income has increased significantly over the past years, the demand for luxury goods have substantially increased in the country. The premium segment wristwatch market in India can be further subdivided into three price categories. In value terms, the Affordable luxury wristwatch segment has the highest market share of about 44% in the premium wristwatch market in India. The main consumers of this segment of watches are the rising urban population with higher spending capacity. This segment is expected to more than double from about ~ million in FY'2013 to about ~ million in FY'2018 by experiencing a high growth at a CAGR of 23.3 % in the period FY'2014-FY'2018.
 
The luxury segment is the premium wrist watch segment which includes wrist watches priced between INR 0.1 million and INR 1.0 million. Rolex is the leading brand in this segment and accounts for ~% of the watch sales. This is followed by Swatch Group owned Omega which contributes ~% to the affordable luxury segment. Rado again owned by Swatch Group is the fourth largest selling brand and accounts for ~% of the volume sales of the luxury watch segment in India. The super luxury segment is also expected to experience a significant increase in the value on account of rise in the number of billionaires in the country in coming years. This market is expected to grow at a CAGR of about 16.7% in the period FY'2013-FY'2018. The market will grow from INR ~ million in FY'2014 to about INR ~ million in FY'2018.
 
The online retail in India has expanded tremendously in recent years. This growth has also been witnessed in the wristwatch segment of the online retail. The primary reason behind the huge growth of the online retail market for wristwatches is the huge increase in the number of internet users in the country owing to the rising internet penetration. In FY'2013 the online retailer market for wristwatches was characterized by a few e-commerce websites holding around 92.0% of the market share in the online retail wristwatch segment. The market is majorly dominated by the five e-commerce players Snapdeal, Flipkart, Watchkart, Jabong and Myntra. The online retail market for wristwatches is expected to clock a CAGR of 54.0% for the period FY'2013-FY'2018. The size of the wristwatch segment of online retail is expected to grow from around INR ~ million in FY'2013 to about INR ~ million in FY'2018.
 
The wall clock industry in India has grown from about INR 4,188.0 million in FY'2008 to INR ~ million in FY'2013. The growth in market in the value terms is mainly driven by sales of the wall clocks brands such as Ajanta, Sonera Industries, Opal, Sonam Quartz and Samay. The premium wall clock segment is the fastest growing segment in the wall clock market in India and has grown at a CAGR of 12.3% in the period FY'2008-FY'2013.
 
Key Topics Covered in the Report:
 
- The market size of India watches industry by value.
- The market segmentation of the watches industry by wristwatches and wall clocks.
- The market size and future projections of the wristwatch market in India by value.
- Market segmentation of the wristwatch market on the basis of price.
- Market size and future projections of the mass, mid and premium price wrist watch segments.
- Market share of major players in the mass, mid and premium price wrist watch segments.
- Market shares of major players in affordable luxury segment and major brands in luxury and super luxury premium watch segments on the basis of unit sales.
- Market share of major players in the overall India wrist watch market on the basis of revenue.
- Trends and developments in the wrist watch market in India.
- Market size and future projections of the wall clock industry in India by value.
- Market segmentation of the wall clock industry on the basis of price.
- Market size and future projections of the economy, mid and premium price wall clock segments.
- Market size and future projections of the online wrist watch market by value.
- Market segmentation of the online wrist watch market on the basis of price.
- Market share of major e-commerce websites in India online wrist watch market.
 

Products

mid, affordable luxury, luxury and super luxury, online wrist watch, watches industry, wall clocks, economy, mid and premium price, e-commerce website

Companies

Rado, Tissot, Balmain, Breguet, Blancpain, Hamilton, Omega, Rolex, Tag Huer, Swatch, LVMH, Timex, Titan, Fossil, Sonata, Zoop, Maxima, Casio, Citizen, Seiko, Versace, DKNY, Skagen, IWC, Hublot, JLC (Jaeger Le-Coultre), Piaget, Jaquet Droz, Armani, Diesel

Table of Contents

1. India Watch Market Introduction

2. India Watch Market Size by Revenue, FY'2008- FY'2013

3. India Watch Market Segmentation by Wrist Watches and Wall Clocks, FY'2008- FY'2013

4. India Wrist Watch Market Introduction and Market Size by Revenue, FY'2008- FY'2013

5. India Wrist Watch Market Segmentation by Organized and Unorganized, FY'2008- FY'2013

6. India Wrist Watch Market Segmentation by Price, FY'2008-FY'2013

6.1. India Mass Wrist Watch Market Introduction and Market Size, FY'2008- FY'2013

6.1.1. Market Share of Major Players in India Mass Wrist Watch Market, FY'2013

6.2. India Mass Wrist Watch Market Future Projections, FY'2014- FY'2018

6.3. India Mid Wrist Watch Market Introduction and Market Size, FY'2008- FY'2013

6.3.1. Market Share of Major Players in India Mid Wrist Watch Market, FY'2013

6.4. India Mid Wrist Watch Market Future Projections, FY'2014-FY'2018

6.5. India Premium Wrist Watch Market Introduction and Market Size, FY'2008- FY'2013

6.6. India Premium Wrist Watch Market Segmentation by Price, FY'2008- FY'2013

6.6.1. India Affordable Luxury Wrist Watch Market Size and Future projections, FY'2008- FY'2018

6.6.2. Market Share of Major Players In India Affordable Luxury Segment Wrist Watch Market, FY'2013

6.6.3. India Luxury Wrist Watch Market Size and Future Projections, FY'2008-FY'2018

6.6.4. Market Share of Major Brands In India Luxury Wrist Watch Market, FY'2013

6.6.5. India Super Luxury Wrist Watch Market Size and Future projections, FY2008- FY'2018

6.6.6. Market Share of Major Brands In India Super Luxury Segment Wrist Watch Market, FY'2013

6.7. India Premium Wrist Watch Market Future Projections, FY'2014-FY'2018

7. India Wrist Watch Market Segmentation by Gender, FY'2013

8. India Wrist Watch Market Segmentation by Type of Watch Movement (Analog, Digital and Mechanical), FY'2013

9. Market Share of Major Players in India Wrist Watch Market, FY'2013

10. India Online Wrist Watch Market Introduction and Market Size by Revenue, FY'2011- FY'2013

10.1. India Online Wrist Watch Market Segmentation on the basis of Price, FY'2013 and FY'2018

10.2. Market Share of Major E-Commerce Websites in India Online Wrist Watch Market, FY'2013

10.3. India Online Wrist Watch Market Future Outlook and Projections, FY'2014- FY'2018

10.3.1. Cause and Effect Relationship between Dependent and Independent variables Present in the India Online Wrist Watch Market

11. India Wrist Watch Market Trends and Developments

11.1. Watch Companies Trends

Indian Watch Market Flooding with 'Swiss made' Brands

Watch Companies Focussing on Youth Segment Wrist Watches

Growing Presence of Organized Players in the Mass Segment Watches

Premium Watch Brands Expanding Reach to Small Towns

International Brands Customizing Watch Designs for Indians

Increasing High Impact Marketing Campaigns

11.2. Consumer Trends

Increasing Demand for Utility Wrist Watches

Shifting Consumer Preference for Mechanical Watches

11.3. Retailers Trends

Increasing Retail Space for Wrist Watches

Retailers Spending Heavily on Advertising and EMI Schemes

12. Government Regulations

12.1. Role of Government in Establishing India as a Manufacturing Hub

12.2. FDI in Retail Restrictions

12.3. Excise and Custom Duties

13. India Wrist Watch Retail Market Competitive Landscape, FY'2013

14. India Wrist Watch Market Future Outlook and Projections, FY'2014- FY'2018

14.1. Cause and Effect Relationship between Dependent and Independent Factors prevailing in the India Wrist Watch Market

14.2. Future Projections, FY'2014-FY'2018

15. Company Profiles of Major Players in the India Wrist Watch Industry

15.1. Titan

15.1.1. Company Overview

15.1.2. Business Strategy

Focus on Restructuring of Watch Business

Introductionof Watch Collections in All the Major Price Segments

Endorsements From Celebrities for Brand Promotions

Increasing Presence in Premium Segment

15.1.3. Financial Performance

15.2. Swatch Group

15.2.1. Company Overview

15.2.2. Business Strategy

Largest Variety of Premium Watch Brands

Opening More Exclusive Boutiques and Distribution through Multi-Brand Outlets

Celebrity Endorsements for High Brand Recognition

15.2.3. Financial Performance

15.3. Timex

15.3.1. Company Overview

15.3.2. Business Strategy

Increasing Online Presence

Consolidation of the Business

Wide Range of Watches in Different Price Segments

15.3.3. Financial Performance

15.4. Seiko

15.4.1. Company Overview

15.4.2. Business Strategy

Brand Promotions by Associating with Sports Events

Expansion of the Point of Sales

15.4.3. Financial Performance

15.5. Citizen

15.5.1. Company Overview

15.5.2. Business Strategy

Product Differentiation by Innovation in Green Technology

Celebrity Brand Endorsement and Promotional Offers

15.5.3. Financial Performance

15.6. Casio

15.6.1. Company Overview

15.6.2. Business Strategy

Adjusting Technology to Latest Trends

Distinguishing the Target Population for Sub-brands

15.6.3. Financial Performance

15.7. LVMH

15.7.1. Company Overview

15.7.2. Business Strategy

Brand Communications through Regional Media

Exclusive Indian Designs

15.7.3. Financial Performance

15.8. Maxima

15.8.1. Company Overview

15.8.2. Business Strategy

Affordable Wrist Watches for Masses

15.8.3. Financial Performance

16. India Wall Clock Market Introduction

16.1. India Wall Clock Market Size by Revenue in INR million, FY'2008- FY'2013

16.2. India Wall Clock Market Segmentation by Organizational Structure, FY'2013

16.3. India Wall Clock Market Segmentation by Price, FY'2008- FY'2013

16.3.1. India Economy Wall Clock Market Size And Future Projections, FY'2008- FY'2018

16.3.2. India Mid Wall Clock Market Size And Future Projections, FY'2008- FY'2018

16.3.3. India Premium Wall Clock Market Size And Future Projections, FY'2008- FY'2018

16.4. India Wall Clock Market Segmentation By Type of Clock, FY'2008- FY'2013

16.5. India Wall Clock Market Future Outlook and Projections, FY'2014- FY'2018

16.5.1. Cause and Effect Relationship between Dependent and Independent Variables Affecting India Wall Clock Market

17. India Watch Market Future Outlook And Projections, FY'2014-FY'2018

18. Macro Economic and Industry Factors: Historicals and Projections

18.1. Gross Domestic Product, FY'2008- FY'2018

18.2. Population, FY'2008-FY'2018

18.3. Shipments of Mobile Phones, FY'2008- FY'2018

18.4. Size of Retail Market in India, FY'2008-FY'2018

18.5. Average Price of Premium Segment Wristwatch, FY'2008- FY'2018

18.6. Size of Working Population in India, FY'2008- FY'2018

19. Appendix

19.1. Market Definitions

19.2. Abbreviations

19.3. Research Methodology

Data Collection Methods

Approach

Variables (Dependent and Independent)

Multi Factor Based Sensitivity Model

Final Conclusion

19.4. Disclaimer

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