From 2013 to 2023, the clocks and watch parts market in South Korea saw a fluctuating per capita expenditure, with a peak in 2015 at 0.94 USD and a steady decline to 0.59 USD by 2023. The last two years show a continued decrease, with 2022 seeing a decline of 5% from the previous year, and a 1.7% decline from 2022 to 2023. The compound annual growth rate (CAGR) over the past five years is -3.5%, highlighting a downward trend in consumer spending on these goods.

Future trends to watch include:

The impact of technological innovations like smartwatches on traditional watch markets.
Shifts in consumer preferences towards wearable technology.
Potential economic factors affecting disposable income and luxury spending.