Market Size of Europe E-Commerce Watch Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 9.04 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe E-Commerce Watch Market Analysis
The Europe e-commerce watch market was valued at USD 7,747.46 Million for the current year and is projected to register a CAGR of 9.04% over the next five years.
- The increased tendency of people to wear pricey watches as a status symbol is one of the major drivers of the market. The majority of new watch consumers in the region tend to select expensive models. Because of this, they frequently build brand loyalty and do not mind spending extra money. Additionally, with the rise in purchases through online retailing websites, major players are focused on expanding their services into the region to grab the major market share.
- For instance, in April 2023, E-commerce software provider Shopline expanded into Europe. Shopline is a website builder for online merchants that offers an omnichannel solution, which means that users can sell their products on multiple sales channels, such as social media and marketplaces. Such developments happening in the region are expected to further boost sales through E-commerce channels thus benefiting the market's growth during the forecast period.
- Furthermore, demand for mid-quartz analog watches is likely to be high in nations like Germany, mainly because consumers' attention is shifting to more aesthetically pleasing watches. To combine some of the functions of smartwatches with the extended battery life of digital watches while selling the product in appealing designs and at competitive prices, companies like Apple, Casio, and Timex consistently spend in R&D.
- For instance, in March 2023, Apple announced it will invest an additional 1 billion euros in German engineering over the next six years as part of its Silicon Design Centre expansion in central Munich. It announced that the expansion of its European Silicon Design Centre will enable an even closer collaboration between its more than 2,000 engineers in Bavaria working on breakthrough innovations, including custom silicon designs, power management chips, and future wireless technologies. Such developments in the region are expected to bring more innovative products with attractive features thus driving the market's growth.
