July watch data shows downward momentum-Market Survey-Magazine-IRISPANCY FASHION ACCESSORIES & JEWELRY

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Magazine > Market Survey > News Content

July watch data shows downward momentum

8/30/2009 3:37:06 PM

Randolph, N.J.--Watch sales for July 2009 saw an overall decline from the same month the previous year, according to new data from LGI Network.

However, the data shows that the decline continues to be smaller month by month, indicating that the downward momentum may be slowing.

The overall market declined by 20 percent on a same-store dollar basis, with $329 million worth of fine watches sold at MSRP value.

The market contracted in unit terms by 18 percent on a same-store basis, with about 394,000 units sold.

As for price points, while all ranges, from entry-level to couture, experienced declines, the $1,000 to $1,500 price range was the hardest hit for the month, LGI reports.

The LGI Network is a provider of marketing and sales information to luxury goods retailers, manufacturers and distributors. The network provides both jewelry and watch reporting information via its Time Tracker and Branded Jewelry Tracker services, offering sales and benchmarking data for retailers.

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