The sold production of watches and clocks in France has generally declined from 173.74 million euros in 2013 to 111.43 million euros in 2023, with several fluctuations. The most notable drops were in 2018, with a year-on-year decrease of 14.69%, and in 2021 which saw a 30.03% decline. However, there was a sharp recovery in 2022 with a 52.62% increase, although this was followed by a slight decline in 2023 of 4.97%. The compound annual growth rate (CAGR) over the last five years (2018-2023) was -2.59%. The forecast through 2028 predicts a continued decline, with a forecasted five-year CAGR of -9.73%.
Future trends to watch for:
- Technological advancements in smartwatches, which could further impact traditional watch and clock sales.
- Potential recovery or stabilization patterns in the luxury watch segment as a reaction to fluctuating economic conditions.
- Increasing consumer preference for multifunctional devices over conventional timekeeping instruments.
- Market responses to sustainability trends, possibly affecting production types and consumer preferences.
