Global Swiss Watches Market
Bharatbook.com announces a report on “Global Swiss Watches Market Outlook 2020”. The report also covers section of major trends and industry developments in recent years which influences industry dynamics.
‘Luxury’ is derived from the Latin word ‘luxus’, meaning “excess”. Luxury goods or service are defined as rare products or superior services with value higher than their core function, incorporating culture and philosophy. Luxury watches represent perfect mix of precision, quality, design, technology and perfect workmanship.
These are one of the most sought after tangible luxury good. Swiss watch making industry is known for world’s finest luxury watches since ages featuring prestigious brands such as Rolex, Cartier and Omega.
Global Watch Industry has Switzerland and China as its un disputable leaders. Switzerland dominates in value terms with luxurious high-end watches. On the other hand, China dominates in terms of sales volume of lower cost quartz watches. Market analysis segment of the report “The Swiss Watch Market Outlook 2020” provides with revenue of global luxury watches industry as well as that of Swiss watches. It also throws light on trade information with leading exporters and importers of luxury watches. The market has further been segmented on the basis of various parameters such as finished watches by category – Mechanical and Electronic; material used such as gold-steel, precious metals, steel, etc.; market share of various Swiss watch brands; wrist watches by price range and market share by region.
Historically, the luxury goods industry such as that of prestigious Swiss watches is often asserted as being immune to macroeconomic uncertainties and crises. However, factors such as reduction of sales in Hong Kong, increase in counterfeiting of Swiss watches, threat from Smart watches and limit on movement deliveries by ETA, Swatch has been hindering industry’s growth. Downturn in Swiss watch sales in the year 2015 was mainly seen as a result of decrease in Swiss watch exports to leading destinations. Nevertheless, the industry manifested export figure of CHF 21.5 billion fueled by growth drivers such as rise in number of High Net worth Individuals (HNIs) globally, growth in emerging markets and ameliorating global economy.
The report also covers section of major trends and industry developments in recent years which influences industry dynamics. Some of these trends include layoff in luxury Swiss watch market due to downturn, launch of Smart watches by Swiss watch companies, securing key partnerships in sports and focus of Swiss watchmakers on lady timepieces and Vintage watch.
At the end, the report provides detailed analysis of leading Swiss watchmakers in the Global luxury watches market. These include The Swatch Group SA, Compagnie Financiere Richemont SA and Rolex SA. These players have been profiled based on attributes such as business overview, product segments, financial and business strategies. It also compiles performance comparison of aforementioned companies and other leading brands in the Swiss watch making industry based on various parameters in the competitive landscape section. The report includes relevant information which can be fruitful for clients in evaluating opportunities in Swiss watch making industry.
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