U.S. Watch/Clock Market Set to Reach $7.8 Billion by 2010
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Facing heavy competition from rival devices
such as cell phones, PDAs, and iPods, the market for watches and clocks
suffered during the 2005 season, dropping 5.1% from 2004 to reach $7.1
billion in sales. The outlook, according to Watches
and Clocks in the U.S., a new report from Packaged Facts, is less than
bleak, however, as a rebound to $7.8 billion by 2010 is projected.
Watches as a whole declined 5.6% in 2005 with fallout in both the mass (under $50) and luxury (over $1,000) markets, both of which are generally impervious to negative marketplace conditions. |
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Packaged Facts projects, however, that
these declines are cyclical in nature and will not impede future sales of
watches, which by 2010 are expected to reach $6.7 billion.
Clocks finished 2005 with $990 million in retail sales, a 2.2% drop from 2004, however, a similar turnaround is expected, which should drive the market back up to $1.1 billion by 2010.
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