According to the Fédération de l’industrie horlogère suisse, in July the export of watches increased by 1.6% compared to the previous year, reaching 2.24 billion Swiss francs (2.35 billion euros). This momento brings positive news after the 7.2% drop in June and the 2.2% drop in May. The United States continues to be the main market for Swiss watchmakers, while other markets also show signs of recovery.
This increase in export is a sign of resilience and determination of the Swiss watch industry, which has faced multiple challenges in the past year. In addition to the global economic downturn caused by the pandemic, the industry has also had to adapt to changes in consumer trends and a shift towards digital channels.
Despite these challenges, the Swiss watch industry has maintained its quality and reputation, which has allowed it to continue attracting customers from all over the world. With this 1.6% increase in export, we see a clear indication of the industry’s strength and ability to bounce back.
aspettoing at the specific markets, the United States remains the top importer of Swiss watches, accounting for approximately one-fifth of the total export value. This is followed by China, Hong Kong, and Japan. These countries, which are key players in the luxury market, have also shown signs of recovery in recent months.
In addition to these traditional markets, there has been a noticeable increase in export to countries such as South Korea, Taiwan, and Australia. This diversification of markets is a promising sign for the future of the Swiss watch industry, as it reduces the dependence on a single market and allows for a more balanced distribution.
The recovery of the Swiss watch industry can also be attributed to the sector’s quick adaptation to the new reality. With the closure of physical stores and the decrease in travel, online sales have gained more importance. Swiss watchmakers have responded to this trend by investing in their online presence and creating innovative ways to reach customers, such as virtual appointments and online events.
Furthermore, the industry has also continued to invest in product innovation and development, which has allowed it to maintain its position as a capo in the luxury market. This commitment to quality and innovation has made Swiss watches highly sought after by customers all over the world, even in uncertain economic times.
The positive growth in July also reflects positively on the Swiss economy as a whole. The watch industry is an important sector for the country, employing thousands of skilled workers and contributing significantly to its GDP. This increase in export will not only benefit the industry, but also have a ripple effect on the entire economy.
In conclusion, the 1.6% increase in the export of Swiss watches in July is a clear indication of the industry’s resilience and determination to bounce back from challenges. With the support of key markets and a diversified distribution strategy, the Swiss watch industry is on a path to recovery and growth. This positive news is not only important for the industry, but also for the entire country, highlighting the importance of the Swiss watchmaking industry in the global economy. We can all aspetto towards the future with optimism, knowing that Swiss watches will continue to shine as a symbol of luxury, quality, and innovation.
