India Luxury Watch Market is Predicted to Grow at a CAGR of 19.4% During 2024-2032

India Luxury Watch Market Overview

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 19.4% (2024-2032)

The India luxury watch market is growing, driven by rising disposable income, brand awareness, and evolving consumer preferences. According to the latest report by IMARC Group, the market is projected to exhibit a growth rate (CAGR) of 19.4% during 2024-2032.

India Luxury Watch Market Trends and Drivers:

The India luxury watch market is expanding rapidly due to several key factors. Primarily, the market is fueled by the increasing number of high-net-worth individuals and rising disposable incomes, especially among the affluent urban class. As a result, there is a growing market for high-end, luxurious timepieces that operate as status symbols along with practical instruments.

In addition to these factors, the trend of gifting luxury watches during significant life events such as weddings, corporate milestones, and anniversaries is further propelling the India luxury watch market. Moreover, international luxury brands are increasingly boosting their presence in India through exclusive stores and partnerships with local retailers to cater to this growing demand.

Online retail platforms are becoming more prominent, which is another significant trend impacting the India luxury watch market. Meanwhile, online shopping for luxury goods is becoming increasingly enjoyable for customers because of the convenience, variety, as well as attractive discounts available. Furthermore, the dynamics of the industry are being further complicated by collectors' increased interest in vintage and limited-edition watches.

In line with these factors, many luxury brands are tapping into this trend by releasing exclusive, limited-edition timepieces that appeal to a niche audience. Additionally, the increasing focus on after-sales services, including maintenance and repairs, is enhancing brand loyalty and customer satisfaction, which is anticipated to drive the market. Consequently, the convergence of these factors is expected to propel the expansion of the India luxury watch market over the forecasted period.

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India Luxury Watch Industry Segmentation:

The report has segmented the market into the following categories:

Type Insights:

• Analog Watch

• Digital Watch

End User Insights:

• Women

• Men

• Unisex

Distribution Channel Insights:

• Online Stores

• Offline Stores

Regional Insights:

• South India

• North India

• West & Central India

• East India

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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Key Highlights of the Report:

• Market Performance (2018-2023)

• Market Outlook (2024-2032)

• Market Trends

• Market Drivers and Success Factors

• Impact of COVID-19

• Value Chain Analysis

• Comprehensive mapping of the competitive landscape

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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