Will smartwatches, 3D printing save struggling Swiss watch industry"
Promotional image for Hermès Apple Watch
As the Swiss horology industry wades further into troubled waters, 82 percent of the sector?s executives have said they hold a pessimistic outlook for the category?s future, according to a Deloitte survey.
The Swiss watch industry has seen a decrease in value and volume of exports over the last 14 months, with exports totaling 9.5 billion for the first half of 2016 down from 10.2 billion in 2015. While there are many factors impacting horology, ranging from decreases in tourism, new laws in markets such as China and currency fluctuations, understanding industry outlook alongside brand and consumer trends can prove useful to Swiss watchmaker?s navigating a volatile climate.
“We are cautiously optimistic for 2017,” said Karine Szegedi, partner, Swiss lead of fashion and luxury at Deloitte, Geneva. “2016 will probably still be difficult, but the industry still has a leading position in the luxury watch segment and we do think it has the innovation capacity to rethink strategy and adapt itself to these new market conditions. “One cannot single out one cause, as terrorism in Europe, new laws in China and strong Swiss franc have arisen simultaneously,” she said. Â
For its fifth annual ?Watch Industry Study,? Deloitte conducted an online survey with more than 50 watch brand executives, as well as consumer survey. Deloitte?s consumer survey was taken by approximately 3,000 individuals in China, Germany, It...
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