Domestic Clocks and Watches Market in Japan: Key Research Findings 2014
Research Outline
- Research period: From October to December, 2014
- Research targets: Manufacturers, wholesalers, and retailers in the clocks and watches industry, local subsidiaries of overseas companies, importers and exporters.
- Research methodologies: Face-to-face interviews by the expert researchers, mail-in questionnaire, and literature research
What is the Domestic Clocks and Watches Market?
The domestic clocks and watches market in this research is consisted of the following two categories: wrist watches and clocks including table clocks, wall clocks, and alarm clocks. The actual figures from 2008 to 2013 are quoted from the materials in Japan Clock and Watch Association. Note that “imported watches” indicate the products from the overseas brands, and “domestic watches” indicate products from the domestic manufacturers which include those produced domestically, and those produced overseas, but imported, and sold domestically.
Summary of Research Findings
- Size of Domestic Clocks and Watches Market in 2013 Achieved 695.5 Billion Yen, 120.0% of Previous Year to Attain Four Consecutive Years of Growth
The domestic clocks and watches market in 2013 attained 695.5 billion yen, 120.0% of the size in the previous year, based on the retail price. The market was boosted by the favorable sales of wrist watches, achieving double-digit growth and four consecutive years of expansion since 2010.
- Domestic Watches Market in 2013 Achieved 640.5 Billion Yen, 121.3% of Previous Year, Projected to Reach 660.0 Billion Yen by 2018
The domestic watches retail market in 2013 attained 640.5 billion yen to achieve double digit growth, 121.3% of the size of the previous year. The market was driven by the favorable sales of imported watches from U.S. and Europe, especially those Swiss-made expensive ones, backed up by last-minute surge of sales just before the consumption tax increase, despite price rise from weakened yen. For the future, while the market enhances products of expensive wrist watches assembled with advanced technologies and of more moderate-priced products, it is likely to strive to acquire wider ranges of customers from wealthy population and women.
- 2013 Domestic Clocks Market Attained 55.0 Billion Yen, 107.0% on Y-o-Y Basis, Expected to Achieve 58.0 Billion Yen by 2018
The domestic retail market of clocks in 2013 achieved 55.0 billion yen, 107.0% of the size in the previous year. The efforts of development and sales enhancement of higher-valued domestic clocks by the manufacturers raised the unit price to drive the market size, exceeding the previous year for the first time in two years. Since clocks have already been used by general consumers, it is difficult to acquire new customers or to expand the market size further. In such an environment, new possibilities can be expected from product development by the manufacturers in the categories of health & sports, or disaster-prevention.
- Figure 1: Transition of Size of Domestic Clocks and Watches Market
