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NPD Group Says Watches Poised to Do Well
Coming off a strong first half of 2018, the market analysis firm is expecting a solid holiday performance for timepieces.
This Shinola watch embodies three key current watch trends, according to The NPD Group: it’s a sport model, features a popular blue dial and, though technically a men’s timepiece, it comes across as unisex to the consumer and is purchased by women. The Canfield Sport 40 mm watch with dark cognac leather strap and midnight-blue dial sells for $850 at Shinola.com and at Shinola retail locations.
Port Washington, N.Y.—According to market analysis firm The NPD Group, quite a few consumers can expect to receive a timepiece as a Hanukkah gift or wrapped up beneath their Christmas tree come Dec. 25.
In the first half of 2018 watch sales were up 8 percent over the year prior, the strongest half-year watches have recorded in three years.
NPD is taking that as an indicator that the second half of 2018 will be just as fruitful.
Luxury timepieces account for much of the category uptick, with sales of watches priced above $3,000 increasing more than 10 percent so far this year. NPD noted that for brands like Rolex and Patek Philippe, which don’t sell direct to consumer or online, this will benefit the independent jewelers that carry them.
High price tags don’t necessarily mean the best-selling watch models are formal, however; sports models are currently outperforming dress models as society becomes more sartorially casual.
Sales of women’s watches will continue to grow after seeing an increase in sales in the first half of 2018 after three years of decline.
Cartier ladies’ styles will lead the way, but there is also a growing emphasis on unisex styles, even ones that couples can share via interchangeable bracelets and straps that don’t require tools.
One style that’s a safe bet to give to an individual (or couple) is a blue dial timepiece, a trend NPD said is continuing to gain momentum.
Though an NRF survey showed that fewer consumers shopped between Thanksgiving and Cyber Monday, numerous reports indicated that overall sales were up, a sentiment echoed by the 10 retailers National Jeweler interviewed post-holiday weekend, who overall predicted a strong rest of the year.
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