The turnover of watches, clocks, and jewellery repair in Denmark in 2023 stood at 3.6 million euros. Historically, this sector saw variability with peaks and troughs from 2013 through 2023. The year-on-year growth rate showed fluctuations such as a peak in 2016 with 11.43% and a significant dip in 2017 at -10.26%. The last five years have seen an average annual CAGR (Compound Annual Growth Rate) of 2.38%. However, from 2018 to 2022, turnover showed minor annual increases and leveling, notably at 3.6 million euros for 2021, 2022, and 2023.
- Over the next five years (2024-2028), a modest growth rate is forecasted with a projected 5-year CAGR of 0.55%, indicating stability with slow growth.
Future trends to watch for include the digital transformation of repair services, which may disrupt traditional service models, and the evolving consumer preferences towards smartwatches, potentially affecting traditional watch repairs. Additionally, sustainability and repairability trends in luxury goods could play a significant role in influencing turnover rates.
