Home » Assorologi, in 2022 purchases of timepieces over 2 billion. In-store shopping returns

Assorologi, in 2022 purchases of timepieces over 2 billion. In-store shopping returns

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Assorologi, in 2022 purchases of timepieces over 2 billion.  In-store shopping returns

2022 recorded positive signals for the wristwatch market in Italy which, with a value of 2.03 billion euros, marked +9% on 2021: a figure that is very close to 2.09 billion euros recorded in 2019, the last “normal” year before the arrival of the pandemic which, obviously, had influenced the results of 2020 and 2021.

These are the most evident numbers estimated by Assorologi together with Gfk Italia and obtained by crossing the data of the monthly survey, which Gfk Italia itself carries out on the points of sale (retail panel), those of the annual study commissioned by Assolorogi to the research institute on the final consumer’s watch buying habits (consumer panel) and those of foreign trade by Istat and the Fédération de l’Industrie horlogère suisse.

Looking at the data from the 2022 consumer panel, the number of items purchased in each channel (5.5 million) decreased by 5.6% on 2021, but increased by 3.9% in value, reaching 1.4 billion euros (the average price rose from 219.3 to 246.7 euros). For the retail panel, on the other hand, 4.3 million pieces were sold (-5.8%) with an increase of 6.5% in value for a total of 1.30 billion euro. With regard to sales channels, online fell back (36.4% against 38.4% in 2021 in terms of quantity and 25.7% against 27.2% in 2021 in terms of value), while the physical one was consolidated (63, 6% in quantity, 74.3% in value), with a comforting return of the watch/jewellery channel, both traditional and in shopping centres, which account for 47.2% in quantity and 74.3% in value . Furthermore, it emerges that consumers chose their watches guided by 32% by design, 29% by brand and 24% by price.

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“We are pleased to observe the growth trend in market value and above all the consolidation and recovery of the physical channel, which reverses the online growth trend after three years of expansion drugged by the pandemic crisis”, commented Marcello Borsetti, new president of Assorologi. Good sensations for this year emerge from purchase intentions: 9.8% against 7% in 2022. Finally, the research reports that the number of smartwatches sold in 2022 was around 2.3 million (37.8 % online, 26% in electronics stores and only 3.3% in traditional watch shops). «The market has substantially recovered the pre-covid values ​​thanks to a positive trend in the premium ranges and has shown a marked recovery in the watchmaking channel, which represents an essential safeguard of professionalism and competence – notes Borsetti -. 2023 will not be easy for reasons that do not depend on our market, but we are confident we will confirm the trends for 2022″.

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