Ten Percent Surge in Luxury Watch Sales Predicted

A Ten Percent Surge in Luxury Watch Sales Has Been Predicted
The unexpected rapid influx of shoppers from the United States into luxury stores is good news for luxury watch manufacturers and retailers. Double digit growth in China along with rapid growth in India is fueling the worldwide market.
Bain & Company has just released the ninth edition of the bellwether “Luxury Goods Worldwide Market Study” which for the last nine years has been a very reputable forecast of the luxury goods market. According the study the luxury watch market will be rebounding as the global economic crises starts to balance out, and added influx from new markets in China and India should provide strong growth.
In the beginning of 2010 luxury item sales, which include luxury watches increased six percent in the first quarter and then over tripped to sixteen percent in the second quarter. It then increased another thirteen percent in the third quarter. Bain predicts even more growth well into 2011.
The study does show that the rebound in the luxury watch sales does highly depend on the performance of retail stores that are operated directly by the luxury brands. This is the channel that growth has been increasing the most, at nearly twenty percent per year.