Market Research Reports - Ken Research Indonesia Watch Research Report

New luxury watch brands target youngsters in Indonesia: Ken Research
Indonesia is a developed country with mixed traditions and modernization. The country has the
most happening brands in almost all sectors. Indonesia is the world's fourth-most populous
country in the world and possesses attractive long term growth in any market with varying
brands to meet the population’s vitality and sense of optimism. Consumer spending power,
market liberalization and decentralization stimulate the economic growth of the country with
the rapid development of the middle class. It was observed that strong consumerism already
exists in the country due to the robust income and consumer desire to improve their living
standards beyond home and car ownership. Therefore, consumer are demanding for various
lifestyle products such as personal electronics, clothes, watches, domestic appliances and
fashion along with outdoor recreation.
Watch, today is a fashion rather than a mere timepieces. In the past, watch was considered as
once-in-a-lifetime buy but in today’s modern world there is no limit to purchasing due to the
styles ranging from casual to classy. The awareness in watches brand, western influences, and
the desire to inherent an exclusive watch are few factors that affect the demand for luxury
watches. Switzerland continues to rule the global watches market in terms of production and
manufacture of luxury watches. The key markets for Switzerland watches are Asia, Japan and
Singapore.
According to the study “Watches in Indonesia”, innovative luxury watch designs in Indonesia
drive the growth of watches market. Watches are manufactured using advanced technologies
such as robots, hi-tech coatings, advanced materials such as ceramics and titanium are offered
by the makers. Also, there is an increasing demand for Swiss watches because of their quality,
design, craftsmanship, and technological sophistication. The introduction of new international
watch brands such as Daniel Wellington, Olivia Burton and Timex has made the market more
competitive. Casio is another popular brand with affordable prices and good brand image. The
three international watch brands target the young people with advertising strategies that
involve emphasising their youthful image. Improvement in technology, quality, durability, and
comfort in the luxury watches has maintained their demand.
The popular shopping destinations for Indonesians are shopping malls and department stores
which are adapting to meet the needs and expectations of the rapidly increasing middle class.
Majority of the watch manufacturers target the youth with fashion conscious and offer an array
of products to cater the consumer needs with design and quality. It was observed that the
watch market in Indonesia will witness a continuing growth in the coming years. The
introduction new brands and models will surely drive the market with increase in volume sales
of watches.