With the expansion of the middle class and increasing income, major ASEAN economies such as Indonesia, Thailand and Malaysia have brought a solid customer base for affordable luxury brands and fashion watches. Brands that have emerged in recent years, such as Daniel. Wellington (Daniel Wellington, DW for short) and MVMT have been widely contacted by millennials through social media, so they are very popular.
The rise of smart watches
In recent years, wearable electronic products have been selling well in major ASEAN markets. As more and more consumers rely on smartphones to check the time, the low- and medium-priced watch market has been hit hard. In addition, the rising trend of using smart phones to connect smart watches and wearable electronic devices has also brought obvious advantages to Apple and Google, which dominate the smart phone field.