"GfK, the market research company found that online watch sales have grown by 23.5 percent in value, year on year. High end luxury watches (those with a price tag of over £5000 on the high street), also report a 17 percent increase in value sales.
Although the total UK watch market has witnessed a sales volume decline of 7 percent, encouragingly value grew 2.3 percent.
Focusing online and average selling price has increased 32.5 percent year on year to £68. Consumers seem to be moving away from purchasing lower end price points (less that £100), and moving towards higher priced purchases of over £100.
Interestingly, looking at a key time for the market, December saw sales of men’s watches on the high street double against that of women’s. This shows that the online and offline mix is now more imperative than ever before."