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Watches and Clocks in Australia: ISIC 333

Australia watches and clocks market dominated by imports due to high brand awareness


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2014-02-07 08:13:03 - Watches and Clocks in Australia: ISIC 333 - a new market research report on companiesandmarkets.com

The Australian watches and clocks market grew by 7% annually over 2000-2010, but due to high brand awareness, imports will continue to dominate. The market increased by a net 95% over the review period as a whole, reaching A$1.3 billion in 2010.

The market saw the largest year-on-year growth of 22% in 2002, and the steepest decline of 4% in 2009 as the economic downturn made retail customers more cautious and consider their needs more. Overall, the market faced two opposing trends: while the high usage of mobile phones makes the need to wear a wristwatch redundant, watches are increasingly considered accessories, which means that people buy various watches to suit different outfits rather than one watch that should last a

 

 

lifetime.

Watches are mainly regarded as a mainstay men´s fashion accessory, as Australian men are rather conservative regarding purchasing jewellery for themselves.

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