Swiss global watch exports booming again

Swiss global watch exports booming again

The growth outlook is good, with global retail sales picking up and new positive trends emerging

SWISS watch exports are booming once again, and each watch is fetching a much higher price than before as the industry sees a strong revival in demand. The growth outlook is good, with global retail sales picking up and new positive trends emerging, which bode well for the future growth of the watch industry.
 
The total number of watches exported from Switzerland last year was 15.7 million pieces, up a robust 14.2 per cent in value over the previous year. Swiss watch exports in 2021 were even higher than in 2019 pre-Covid with sales valued at 22.1 billion Swiss francs (S$31.9 billion) last year. The Swiss watch industry thus seems to be in a stronger position today than before the outbreak of the Covid pandemic.

“Of course, early 2020 was difficult with a total standstill of global retail sales but the recovery was fast and furious,” says Singapore-based business veteran in luxury products and luxury watch distribution, Alexander C Melchers.
 
Among key recent developments in the watch industry is the extraordinary growth of the strongest brands such as Rolex, Patek Philippe, Cartier and Audemars Piguet, of which only Cartier belongs to a large group, he adds.

Another new development is the re-calibration of sales and the emergence of the importance of local and resident clients as retailers globally cannot just rely on Chinese tourists anymore
 
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