The year 2025 came to a close without incident for the wristwatch market. According to estimates compiled by NIQ for Assorologi, the sector remained largely stable compared to last year, with an overall value of just under 2 billion euros, totaling 1.87 billion (-1%). The study is based on a comparative analysis of various available sources, including the monthly retail panel survey and the annual consumer panel survey.
Sales Overview: Decline in Volume but Increase in Value
According to the survey of Italian consumers (regardless of purchase channel), just over 5 million timepieces were purchased (-3.8% compared to 2024), with a slight increase in value (€1.3 billion, +0.8% compared to 2024). Meanwhile, the retail survey, focused solely on the watch retail network (regardless of the buyer’s nationality), highlights a stable market in terms of volume with 3.2 million units, for a value just over 1 billion euros (-1.4%).
In short, according to the study, the sector is “holding steady” but not growing: the multi-year trend shows that fewer and fewer watches are being sold in Italy, but at a higher value. Consequently, market value data has remained broadly stable over the five years following the pandemic. Furthermore, following the surge during the pandemic year, the online channel has begun a slow decline (34% in volume, 24.3% in value) and appears to have stabilized. The jewelry store channel, meanwhile, remains by far the primary point of sale for consumers, although it continues to experience a slow decline (40% in volume compared to 43% in 2024, and 53% in value compared to 56% in 2024).
Smartwatches and second-hand watches: dynamic segments
Furthermore, a focus on the smartwatch segment reveals a market that is slowly expanding and becoming more mainstream among women and those over 35. For 2025, the number of smartwatch purchases is estimated at approximately 2.6 million, a figure broadly in line with the previous year (+0.2%). The internet remains the preferred channel for purchasing this type of product (53% of purchases), led by Amazon (38%), followed by brand websites (8%). "In-person" purchases, meanwhile, are made primarily in electronics stores (29%). The role of traditional watch retailers (4%) and single-brand boutiques (4%) remains marginal. Finally, a section was dedicated to the second-hand market, which represents a particularly significant “market within the market”: it accounts for 11% of sales volume in the traditional segment and 9% in the smartwatch segment.
The outlook for 2026 according to Assorologi
“We are aware that the sector’s challenges are part of a complex socio-economic landscape heavily influenced by factors of uncertainty,” comments Assorologi President Marcello Borsetti in a note. “In this scenario, the substantial stability of the watch market in Italy is of particular importance. The year 2026 began under a cloud of instability, with potential repercussions on consumer confidence and spending habits. We are pleased to note, however, that Italian consumers continue to show attention and interest in our sector. It remains essential, however, to continue investing to consolidate this confidence and support a more robust recovery. “As we have already emphasized on other occasions, the sector is operating in a context that limits its full potential and must once again become attractive to all consumer segments,” he concludes.