Whether they're selected by athletes because of functionality, monitoring heart rates and distances covered, or sports fanatics looking to display a timepiece with their favorite logo at the big game, sports watches have continued to thrive in the marketplace. According to The U.S. Market for Watches and Clocks, a new study by market research publisher Packaged Facts, the sports watch market grew to $1.7 billion in sales in 2003 and is projected to reach $2 billion by 2008.
Overall, the total value of the U.S. market for watches and clocks was worth nearly $7.4 billion at retail in 2003, according to the report. Despite rough economic times overall, the watch market has remained stable, with many marketers touting watches as fashion accessories that change according to new trends and tastes.
“In many ways, the sports watch has become a fashion accessory,” said Don Montuori, Acquisitions Editor for Packaged Facts. “Their appeal — whether that's based on enhanced functionality, oversizing or durability — extends well beyond the runners or divers for whom, ostensibly, manufacturers are marketing these products.”
