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2019 is set to be a successful year for Swiss watchmaking in monetary terms. And yet the number of watches exported continues to fall. Should we be worried about this? The only logical explanation seems to be that the lower market segment is slowly but surely losing its share to the smart watch industry. And as a result, average prices are constantly rising. Beyond the risk of seeing a drastic drop in volume in the long term, the outlook remains buoyant for the Swiss watchmaking industry, notably because of an insatiable demand from Asian consumers in general, and the Chinese in particular. But many challenges remain for Swiss watchmakers, not least the absolute necessity of enhancing its appeal to younger generations. Apart from an ever-increasing dependence on China, other faint signals should be seriously addressed. Starting with the fact that wealthy Chinese consumers continue to allocate ever-larger proportions of their budgets to intangible goods, and that, for this same clientele, luxury watches are no longer at the top of men’s wish lists. All the relevant facts and figures, presented here by Watches The Guide, will doubtlessly nourish reflections on these issues.
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