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U.S. - Watches - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

U.S. - Watches - Market Analysis, Forecast, Size, Trends and Insights

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Feb 6, 2023

Watch Import in America Slumps 23%, Averaging 10M Units in November 2022

U.S. Watch Imports

In November 2022, supplies from abroad of watches decreased by -23% to 10M units, falling for the third consecutive month after four months of growth. Over the period under review, imports showed a noticeable decline. The pace of growth appeared the most rapid in May 2022 when imports increased by 64% month-to-month. Imports peaked at 21M units in August 2022; however, from September 2022 to November 2022, imports remained at a lower figure.

In value terms, watch imports totaled $547M (IndexBox estimates) in November 2022. The total import value increased at an average monthly rate of +1.9% from January 2022 to November 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in September 2022 with an increase of 18% against the previous month. Over the period under review, imports reached the peak figure in November 2022.

Imports by Country

Japan (4.3M units), China (3.4M units) and Switzerland (899K units) were the main suppliers of watch imports to the United States, together comprising 83% of total imports. The Philippines, Thailand and Singapore lagged somewhat behind, together accounting for a further 15%.

From January 2022 to November 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Philippines (with a CAGR of +14.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($468M) constituted the largest supplier of watch to the United States, comprising 86% of total imports. The second position in the ranking was held by Japan ($44M), with an 8% share of total imports. It was followed by China, with a 2.4% share.

From January 2022 to November 2022, the average monthly rate of growth in terms of value from Switzerland amounted to +2.7%. The remaining supplying countries recorded the following average monthly rates of imports growth: Japan (-2.3% per month) and China (-5.2% per month).

Imports by Type

In November 2022, plastic or non-precious metal watches (10M units) was the main type of watch supplied to the United States, with a 98% share of total imports. It was followed by wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal (160K units), with a 1.5% share of total imports.

From January 2022 to November 2022, the average monthly rate of growth in terms of the volume of import of plastic or non-precious metal watches totaled -3.5%.

In value terms, plastic or non-precious metal watches ($399M) constituted the largest type of watch supplied to the United States, comprising 73% of total imports. The second position in the ranking was held by wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal ($148M), with a 27% share of total imports.

Import Prices by Country

In November 2022, the watch price amounted to $52.8 per unit (CIF, US), picking up by 31% against the previous month. Overall, the import price recorded a prominent expansion. The pace of growth was the most pronounced in April 2022 an increase of 77% month-to-month. Over the period under review, average import prices hit record highs in November 2022.

There were significant differences in the average prices amongst the major supplying countries. In November 2022, the country with the highest price was Switzerland ($521 per unit), while the price for China ($3.8 per unit) was amongst the lowest.

From January 2022 to November 2022, the most notable rate of growth in terms of prices was attained by Singapore (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Watch Market Overview

There are a number of factors that have contributed to the current state of the watch market in the United States. Firstly, the advent of smartwatches has been a major disruptor, with many consumers opting for these devices over traditional watches. Secondly, the rise in online shopping has made it easier for consumers to purchase watches from overseas, which has led to increased competition and downward pressure on prices. Finally, the overall slowing of the economy has meant that consumers are less likely to splurge on luxury items like watches.

All of these factors have combined to create a challenging environment for watch brands operating in the United States. Many brands have been forced to rethink their strategies in order to adapt and survive. Some have turned to online sales channels, while others have focused on creating more affordable products. Whatever the approach, it is clear that the watch market in the United States is undergoing a period of change and transformation.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the watch market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 26521100 - Wrist-watches, pocket-watches, with case of precious metal or of metal clad with precious metal
  • Prodcom 26521200 - Other wrist-watches, pocket-watches and other watches, i ncluding stop-watches

Country coverage:

  • United States

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in the U.S.
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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