The market size value per capita for watches with cases made of or clad in precious metal in South Korea has shown a fluctuating trend over the past decade. A decline was observed from 2016 to 2017 but recovered significantly from 2018 onwards. As of 2023, the market stands at $14.76 per capita, showing a consistent upward trend in recent years. The year-on-year growth from 2021 to 2023 reflected an increase, illustrating market resilience and consumer preference for luxury items. The compound annual growth rate (CAGR) over the last five years indicates a solid average growth.
Future trends to watch for include increased demand for smart watches integrated with luxury features and potential market challenges posed by economic uncertainties or shifts in consumer spending habits. The influence of digital marketing and e-commerce growth might also alter consumer purchasing behaviors, driving further changes in the market.
| # | 14 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 56.57 | 2023 | View data | ||
| 2 | 2 Italy | 33.63 | 2023 | View data | ||
| 3 | 3 New Zealand | 26.71 | 2023 | View data | ||
| 4 | 4 Japan | 25.84 | 2023 | View data | ||
| 5 | 5 Austria | 23.12 | 2023 | View data | ||
| 6 | 6 Denmark | 14.91 | 2023 | View data | ||
| 7 | 7 South Korea | 14.76 | 2023 | |||
| 8 | 8 Greece | 11.99 | 2023 | View data | ||
| 9 | 9 Canada | 11.58 | 2023 | View data | ||
