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eBay India today launched the biggest online mall for watches having over 65,000 SKU’s and with access to over 200 global and local watch brands.
The current size of the watch industry in India is estimated at $834 million, and is growing at 10% year on year. With the boom of the e-commerce industry, the current online market for watches is estimated at $32 million and continues to grow at a rate of 35% year on year.
Maharashtra constitutes 14% of the overall sale of watches on eBay India with most shoppers preferring to buy chronograph watches. Even smaller cities like Latur, Karad and Sangli form an important part in the overall sales of watches online. According to recent statistics, people from Maharashtra prefer Armani watches, followed by Guess, Michael Kors, DKNY and Giordano.
Navin Mistry, Head Retail Exports and Lifestyle Category, eBay India said in a statement, “Over the years, the disposable income of Indian consumers has increased significantly, which is leading to a substantial change in their spending habits. Consumers are now shopping online for lifestyle products and women shoppers are the prominent contributors to this segment.”
According eBay India, males constitute 64% of the shoppers for watches. While both genders prefer the metal straps (men 75%, women 45%), some also buy leather straps (men 20 % and women 40%) and ceramic straps (men 10% and women 15%). Every four minutes a watch is sold on eBay India and the men’s wrist watches are top five traded products on the website.
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