In 2023, the import volume of wristwatches with cases of precious metal or metal clad with precious metal to the UK stood at 17.43 thousand kilograms. Forecasts for 2024 to 2028 show a consistent annual decline in import volume, with a Compound Annual Growth Rate (CAGR) of -10.20%. From 2024 to 2025, there's a decrease of 9.38%, followed by a 10.13% reduction from 2025 to 2026. The downward trend continues with a decrease of 11.12% from 2026 to 2027, and a further 12.17% drop from 2027 to 2028.
Future trends to watch for include:
- The impact of changing consumer preferences towards technology-integrated or smart watches.
- Potential shifts in trade policies post-Brexit affecting import dynamics.
- Global economic conditions influencing consumer luxury spending power.