The Vietnam watch market size reached USD 390.00 Million in 2024. The market is projected to reach USD 573.63 Million by 2033, exhibiting a growth rate (CAGR) of 3.97% during 2025-2033. The market is growing steadily, propelled by an increasing demand for both luxury watches and budget-friendly timepieces. Consumers are diversifying their preferences, and smartwatches are becoming popular in addition to classical mechanical and quartz watches. The market for watches through retail outlets is increasing, with a growing proportion of sales from online sources. Regional differences in demand are influenced by cultural and economic considerations. With brands innovating and keeping up with evolving preferences, the future of the industry looks bright, which adds to the Vietnam watch market share.
Report Attribute
|
Key Statistics
|
---|---|
Base Year
|
2024 |
Forecast Years
|
2025-2033
|
Historical Years
|
2019-2024
|
Market Size in 2024 | USD 390.00 Million |
Market Forecast in 2033 | USD 573.63 Million |
Market Growth Rate 2025-2033 | 3.97% |
Digital Transformation in Watch Retail
In December 2024, Vietnam’s Ministry of Industry and Trade reported that the national e‑commerce sector surpassed billions in annual sales, underscoring the rapid adoption of online channels. This surge is transforming luxury segments, including watches, which are increasingly sold through immersive online storefronts. Virtual try‑on features, AI-generated style guides, and blockchain‑based authentication tools replicate in-store interactions, enabling confident purchases from anywhere. Live‑streamed collection reveals, and interactive product showcases deepen consumer engagement and foster emotional connection to craftsmanship. To support this, retailers are investing in secure payment systems, responsive mobile platforms, and real‑time inventory updates. These developments are expanding reach to younger, digitally native buyers while maintaining trust with traditional collectors. The fusion of heritage horology with seamless digital platforms is reshaping consumer discovery and purchase behavior. This strategic digital integration is accelerating Vietnam watch market growth, as brands that harmonize authenticity, convenience, and technology stand to lead in this rapidly evolving landscape.
Rise in Certified Pre-Owned Watch Interest
In August 2024, luxury analysts and retailers observed a marked increase in demand for certified pre-owned watches in Vietnam, aligned with broader consumer trends toward conscious luxury consumption. Buyers now place higher value on authenticity, traceable ownership, and the emotional history attached to timepieces. Certified pre-owned models accompanied by verified provenance, detailed service records, and independent inspection are increasingly seen as meaningful alternatives to new watches. This movement appeals to those seeking vintage aesthetics, mechanical heritage, and narrative depth, while also supporting sustainability through extended product lifecycles. Curated resale platforms in Vietnam are becoming more sophisticated, offering transparent pricing, condition grading, and customer support comparable to primary luxury retailers. The growing popularity of heritage-rich acquisitions reflects a shift in how collectors perceive value focusing on rarity, origin, and storytelling over novelty. These shifts in buyer preference are redefining what constitutes luxury and permanence in ownership. In doing so, they are helping shape Vietnam watch market trends, as provenance, ethical sourcing, and legacy emerge as critical purchase drivers for discerning watch buyers.
Momentum of Independent Craftsmanship
Vietnam’s growing appreciation for artisanal horology was highlighted by the country’s hosting of the GPHG 2024 Exhibition in Ho Chi Minh City, held in collaboration with the prestigious Grand Prix d’Horlogerie de Genève. The event marked a significant cultural moment, celebrating independent watchmakers and showcasing craftsmanship to an expanding audience of Vietnamese collectors. Microbrands and independent artisans presented limited-edition models, often featuring hand-finished components, traditional decoration techniques, and locally inspired design elements that reflect Southeast Asian heritage. Collectors increasingly value timepieces that offer narrative depth and visible craftsmanship, moving beyond mass-produced luxury. Many buyers now engage directly with makers, selecting finishes, dials, and engravings that carry personal or cultural significance. This emphasis on customization fosters emotional investment and long-term loyalty. Social platforms and collector communities further amplify these narratives, allowing enthusiasts to share the meaning behind their acquisitions. With elevated visibility through events like GPHG, these bespoke creations are shaping the market, emphasizing that cultural identity, individual storytelling, and handmade artistry are essential forces in defining modern luxury preferences.
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on type, price range, distribution channel, and end user.
Type Insights:
The report has provided a detailed breakup and analysis of the market based on the type. This includes quartz and mechanical.
Price Range Insights:
A detailed breakup and analysis of the market based on the price range have also been provided in the report. This includes low-range, mid-range, and luxury.
Distribution Channel Insights:
The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes online retail stores and offline retail stores.
End User Insights:
A detailed breakup and analysis of the market based on the end user have also been provided in the report. This includes men, women, and unisex.
Regional Insights:
The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Report Features | Details |
---|---|
Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Million USD |
Scope of the Report | Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
|
Types Covered | Quartz, Mechanical |
Price Ranges Covered | Low-Range, Mid-Range, Luxury |
Distribution Channels Covered | Online Retail Stores, Offline Retail Stores |
End Users Covered | Men, Women, Unisex |
Regions Covered | Northern Vietnam, Central Vietnam, Southern Vietnam |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
Key Benefits for Stakeholders: