INSUBCONTINENT EXCLUSIVE:
The Swiss luxury watch industry is seeing a prolonged downturn in the secondary market due to economic uncertainties and shifting consumer
behaviors.In recent months, luxury Swiss watch prices dropped by more than 2%
Overall market performance decreased by nearly 10% over the past year
Even prestigious brands experienced significant price drops in the secondary market.Some top-tier watches now trade at lower premiums above
retail compared to earlier in the year
This reduction in market speculation may help alleviate primary market demand pressures.Waiting times for specific models have shortened,
indicating a decline in speculative purchases.The secondary market struggles with inventory oversupply and reduced absorption rates
Age of inventory for prominent brands has increased notably, suggesting longer selling times
Recent sales updates from major industry players indicate ongoing challenges.Luxury Watch Market Navigates Turbulent Waters
Swiss watch exports to China fell by over 20% in the first half of the year
This decline stems from a crisis in the property sector and high youth unemployment rates.Despite these challenges, the global luxury watch
market is expected to grow in the coming years.Projections suggest an increase of several billion dollars by 2027
This growth is driven by consumer preferences for premium, high-quality watches as status symbols.Luxury Watch Market Navigates Turbulent
WatersThe industry is adapting to technological advancements
Traditional watchmakers are exploring connected watches with improved features.This innovation aims to compete with the growing smartwatch
market and attract younger consumers.Luxury brands are leveraging major events for exposure
One prominent Swiss brand, as the official timekeeper of a major international sporting event, is using this platform to showcase its
precision and excellence.The current market situation calls for cautious approaches from buyers and retailers
suggest potential for future recovery.
