According to Deloitte’s Swiss Watch Industry Study 2016, Swiss watch executives are feeling glum about the future of the industry. This comes after exports in the first half of the year slumped to their lowest level in five years.
The report notes that the number of pessimistic industry leaders currently stands at 82 per cent. Moreover, it showed that exports of Swiss watches fell in the first half to USD $9.8 billion from USD $10.5 billion a year earlier.
The biggest risk for these executives is weaker foreign demand, overtaking the strength of the franc in relation to the U.S. dollar. Additionally, exports to China and Hong Kong have dropped, with August making the 18th consecutive month of decline.
As this trend continues overseas, ensure that you remain conscious of sales in your stores and adjust your inventory accordingly. Consider offering special incentives to drive up sales in this segment if you are experiencing a decline, as well.
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