Swiss Watch Industry Study 2017
It’s all about digital
The Swiss watch industry has started to recover since spring 2017. Exports rose in Q2 by 3% compared to 2016. The sixth edition of Deloitte Swiss Watch Industry Study sees this trend continuing. A majority of Swiss watch executives surveyed are optimistic about the outlook for the Swiss watch industry and the main export markets over the next 12 months.
Key highlights of the study:
- The Swiss Watch Industry shows first signs of recovery. In Q2 2017, watch exports were worth CHF 5.0 billion, compared to CHF 4.8 billion in Q2 2016 (+3%)
- Swiss watch executives surveyed this year are more optimistic about the future and think the recent positive change of trend should continue
- A large proportion of offline purchases are influenced by what the consumer has discovered digitally
- Swiss watch executives do not see smartwatches as a threat to their business, 72% do not expect them to have an impact on their sales and 14% see smartwatches as an opportunity
Deloitte Swiss Watch Industry Study 2017 is based on an online survey among more than 60 watch executives and a consumer survey which was conducted among 4,500 people living in China, Italy, Germany, Japan, Switzerland and the US.