NPD Group says watches poised to do well

Ashley Davis

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 2018after 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.

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Source National Jeweler