For December 2020 the Federation of the Swiss watch industry (FH) reports, that the Swiss watch exports continued to see a less marked decline. Performance was slightly lower (-2.5%) than a year earlier, at 1.7 billion francs.
For 2020 as a whole, the sector saw the value of its shipments abroad fall by 21.8%, to just under 17 billion francs. outperformed the market in 2020.
Demand remained weak in December 2020 for watches priced at less than 500 francs export price (+/- 1000 retail), which recorded a marked decline. Conversely, the 500 to 3,000 francs segment (+/- 6000 retail) grew very strongly (+19.5% by value). Export turnover for watches priced at over 3,000 francs fell by 6.4%.
(+45.2%) continued to post very strong growth during the final month of the year. Overall, all other markets fell by 9.0%, pointing to a gradual recovery but still on a sharply downward trend.
Among the larger markets, performance in the (-2.4%) was around the global average, while (-19.2%) continued to fall. (-0.8%) remained steady, following an increase in November. (-9.7%) was the worst-affected region, with most markets posting sharp declines.
Interested to get more detailed information?
One expert has all the answers: René Weber, Managing Director of Bank Vontobel AG https://www.vontobel.com in Zürich.
René Weber is a renowned , with 25+ years of experience René again gave me an update about the current export situation of the Swiss Watch Industry and an outlook what we might expect next…
I invite you to watch & listen to our conversation and then to start a VIVID discussion underneath the video. I am looking forward reading your comments!