German watch market bounces back

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GfK data shows sales in 2011 up 12% with solid Christmas trading.

The German watch market is beginning to bounce back after years of depressed sales, according to new data by retail analyst GfK.

The number of watches sold in Germany rose 11% in 2011 while total sales jumped 12%.

Pre-Christmas sales of watches, made between October and December, jumped 18% year on year, closing 2011 with a buoyant quarter after a positive incline throughout the first nine months of the year. In this final quarter watches in the €100 to €150 (£83 to £125) bracket showed a significant increase of 16%.

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GfK found that the average spend on watches in specialist watch retailers was €282 (£236) while purchases of fashion watches at locations such as department stores and supermarkets averaged €72 (£60).

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