Summary

American purchasing power is the primary driver of the watch business in the country; youthful buyers are eager to invest in classic timepieces as soon as their disposable income increases. On the other hand, the decline in international visitors is a factor in the total watch sales' poor performance. A growing number of women entering the workforce, constantly evolving fashion trends, and shifting consumer tastes and preferences. A watch is a way for a person to display their style and individuality. The majority of people who wear watches these days do so as an accessory that is, as a piece of jewelry that improves appearance and style. Additionally, it's a popular fashion choice due to rising disposable income and the reasonable prices of numerous brands. During the projection period, this is the other important element that is anticipated to increase watch sales in the United States. Furthermore, a well-designed watch enhances one's appearance and goes well with the outfits one wears, which is perhaps the main reason people choose to carry watches. The primary factors propelling the watch market in the United States over the forecast period, however, are the evolution of the fashion industry and the growing emphasis on health and fitness throughout the nation. A fit and healthy lifestyle is becoming more and more popular, which is driving up demand for watches. Sports fans have found several of the smartwatches to offer beneficial features. The Swatch Group (U.S.) Inc., Apple Inc., Fitbit, Inc., Fossil Group, Inc., Garmin Ltd., Movado Group, Inc., Citizen Watch Company of America, Inc., Huawei Technologies Co. Ltd., Casio America Inc., and Seiko Corporation of America are a few of the prominent companies involved in the American watch market. Companies continually introduce new products, change up their marketing approaches, and form other strategic alliances in order to stay competitive in the market. Most of the brands who are leading the way in innovation today make sure that every one of their timepieces offers a unique combination of performance, tradition, and elegance. Well-known companies like Fossil, which acquired wearable technology startup Misfit in 2015, helped the former build a scalable cloud and application platform. A number of variables, including an increase in the number of women entering the workforce, shifting consumer preferences and tastes, and shifting design trends, are predicted to propel the US watch market in the anticipated period.

According to the research report "United State Watch Market Overview, 2029," published by Bonafide Research, the United States Watch Market is expected to grow with more than 6% CAGR from 2024 to 2029. The main drivers propelling the watch market in the United States during the forecast period are the nation's growing emphasis on fitness and health. A fit and healthy lifestyle is becoming more and more popular, which is driving up demand for watches. Sports fans have found several of the smartwatches to offer beneficial features. Companies continually introduce new products, change up their marketing approaches, and form other strategic alliances in order to stay competitive in the market. Most of the brands who are leading the way in innovation today make sure that every one of their timepieces offers a unique combination of performance, tradition, and elegance. Well-known companies like Fossil, which acquired wearable technology startup Misfit in 2015, helped the former build a scalable cloud and application platform. This has made it easier for the business to provide both conventional clocks and fashionable associated accessories. Watches are frequently regarded as fashion accessories, and customer demand is influenced by trends in wrist watch designs. The population of the United States is diversified and fashion-conscious, and they appreciate watches as both useful instruments and fashionable accessories. Luxury timepieces are in high demand in the United States market. High-end watch brands draw customers who value craftsmanship, style, and the exclusivity those luxury timepieces provide since they are frequently linked to status and prestige. With the growth of e-commerce and online retail platforms, customers can now browse and buy timepieces from the comfort of their homes with more ease. The market is growing because of the large range of watch brands and styles available on online platforms.

Based on movement market is divided into smart watch, Quartz, mechanical, solar & other. A larger spectrum of consumers can afford quartz watches since they are often far less expensive than mechanical watches. Because value consciousness is so common in the US, this affordability element is particularly important. Watches made on quartz are known for their accuracy and dependability. Compared to mechanical timepieces, they require less maintenance and are less susceptible to temperature changes. This precision and ease of use fit in perfectly with the practical American way of life. Quartz technology has expanded the options for watch functionality and design. Quartz watches suit a wide range of tastes and requirements, from sporty designs with cutting-edge capabilities like GPS and heart rate monitors to elegant, minimalist shapes. The wide range of American consumers is drawn to this variation. In the US, a few well-known quartz watch companies, like as Seiko and Citizen, have developed effective marketing campaigns and significant brand awareness. The popularity of quartz watches has been attributed to this positive attitude and brand recognition.

Based on the product range of the market is divided into low- range, Mid-range, luxury. Price and quality are frequently well-balanced in mid-range watches. Mid-range watch buyers are searching for watches that offer decent value without making too many sacrifices in terms of features or quality. Some mid-range watch companies are known for producing chic and dependable timepieces. Customers can rely on these businesses to provide high-quality products at a price point that is comparable to luxury timepieces. In order to accommodate a wide range of interests and preferences, mid-priced watches frequently come in a variety of styles. The mid-range market may provide a variety of choices for those seeking a more casual everyday watch, a sports watch, or a traditional dress watch. In order to accommodate a wide range of interests and preferences, mid-priced watches frequently come in a variety of styles. The mid-range market may provide a variety of choices for those seeking a more casual everyday watch, a sports watch, or a traditional dress watch.

Based on the End user the market can be categorized by male, female, unisex. The men segment is leading the market. Producers are enticing buyers into the market for reasonably priced luxury timepieces in order to grow their revenue share. Men's desire for luxury timepieces is expected to rise as a result of these factors. A few vendors are focusing on the introduction of new high-end watch models for men. For example, Hermes International SA (Hermes International) declared that the titanium and rose gold Two-Tone H08 Watch would be available in January 2023. Additionally, the 60th Anniversary Edition TAG Heuer Carrera Chronograph will be available in January 2023, according to TAG Heuer, a branch of LVMH Moet Hennessy Louis Vuitton (Louis Vuitton). Such product launches are expected to fuel the expansion of the men's segment of the worldwide market throughout the forecast period.

Based on type of Distribution Channel the market can be categorized by retail store, specialty store, and online retail. Specialty store is leading one Specialty stores focus only on watches, in contrast to department stores and internet merchants. Building confidence and loyalty among watch enthusiasts, this translates to knowledgeable staff, carefully chosen collections that appeal to individual interests, and tailored customer service. Strong relationships between specialty retailers and watch brands enable them to obtain unique models and limited editions that are not easily found elsewhere. This exclusivity draws enthusiasts and collectors looking for one-of-a-kind timepieces. Numerous specialty shops offer a unique shopping experience. Watch enthusiasts are drawn to establishments with exquisite displays, cozy interiors, and repair services because they offer a sense of elegance and distinction.

Considered in this report:
• Geography: United States
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report:
• United States Watch market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Movement:
• Smart watch
• quartz
• Mechanical
• Solar & other

By Product Range:
• low- range
• Mid-range
• luxury

By End user:
• male
• female
• unisex

By Distribution channel:
• retail store
• speciality store
• online retail

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Watch industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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