Press release
India Watch Market Size, Future Scope, Industry Price Trends and Forecast 2023-2028
India Watch Market
How Big is the India Watch Market?
The India watch market is projected to exhibit a growth rate (CAGR) of 6.8% during 2023-2028. The increasing investment in advertising and promotional activities by watch manufacturers to build their brand image and attract customers, along with continual innovations and the launch of personalized and customized watches represent some of the key factors driving the market.
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What is Watch?
A timepiece is a wrist-worn device that not only serves as a precise timekeeping tool but also embodies symbols of status, style, and precision, harmoniously blending aesthetics with functionality. Available in various types and styles to cater to diverse preferences and occasions, watches are designed to be worn on the wrist. With advanced features such as date displays, chronographs, and smart capabilities enhancing their utility, the demand for watches is on the rise in India.
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What Are the Growth Prospects and Trends in the India Watch Market?
Currently, the growing disposable income among individuals in India plays a pivotal role in propelling market growth. With a desire to enhance personal style through refined timepieces, globally renowned watch brands are capitalizing on the opportunity to establish a robust presence in the country. Additionally, the increasing influence of fashion and lifestyle trends is fueling the popularity of watches as fashion accessories in India. The endorsement of specific watch brands by celebrities and influencers further encourages individuals to view watches as expressions of their identity and taste. Moreover, the expansion of organized retail and the prevalence of e-commerce platforms are making high-quality watches more accessible to a broader consumer base, thereby bolstering market growth in India. In alignment with this trend, online channels offer convenience, competitive pricing, and an extensive array of choices, contributing to increased watch sales across the country.
What is included in market segmentation?
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The report has segmented the market into the following categories:
Type Insights:
• Quartz
• Mechanical
Price Range Insights:
• Low-Range
• Mid-Range
• Luxury
Distribution Channel Insights:
• Online Retail Stores
• Offline Retail Stores
End User Insights:
• Men
• Women
• Unisex
Regional Insights:
• South India
• North India
• Central and West India
• East India
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