Faced with the adverse situation of the market in time, structure, politics and security, the Swiss watch industry gradually ADAPTS to the new situation and makes its own adjustment. The adverse impact of the sales operation has changed, and some sales markets have recovered significantly. While the export of Swiss watchmaking products has not shown the same dynamic, there has been a steady trend of stability, marking a halt to the decline. At first, it was not expected to have such a stabilisation before the end of the year.
The performance was smooth, reaching expectations in advance
In the first six months of this year, Swiss watch exports reached 9.5 billion Swiss francs. Compared with the first half of 2016, it was up 0.1% year on year. Chinese and British markets have been buoyant, contributing to overall results.
That said, in the first half of this year, the first half of the year was completed ahead of 2017, thanks to the boost in the second quarter (up to 3.0 percent). But in some areas the situation remains treading: the us market has not improved; Some European or Asian markets still need significant adjustments. So there is a need to be cautiously optimistic about 2017.
Sales of the representative products of the Swiss watch industry – wristwatch sales of 8.9 billion Swiss francs – were up 0.7 percent compared with the first half of 2016. The sales volume was not the same, but a 3.3% decline. In six months, the Swiss watch exported a total of 1,600,000 timepieces to foreign countries.
Sales growth was due to mechanical watches (+ 2.0%), while quartz watches lost favour (-4.5%).
Compared with the first half of 2016, wristwatch sales of just under 200 Swiss francs (export prices) were down, at 11.2%. Sales of watches also fell (-5.6%), hurting overall performance. Sales of products between 200 and 500 Swiss francs were up by 3.0 percent, while those of the 500 Swiss franc rose 1.3 percent.
In the first half of this year, the decline in gold watches was exactly offset by gains in steel watches. In particular, platinum watches and dual-metal products are on the rise. The overall sales volume was affected by the decline in performance of other materials and other metal products.
In several major regions, the European rally was the best, rising by + 3.3% between January and June. Britain has always used its currency advantage to play an important role; Overall stability in Asia (-0.3 per cent) has focused on two categories of sales, with high growth and a marked decline. The continental U.S. fell 3.7%, thanks to a decline in the U.S. market.
The European market was mainly represented by a significant increase in exports to the UK from Swiss watchmaking products (+ 16.3%). Some other market rally is weak, such as Italy (+ 0.4%), Spain (+ 0.8%) and Austria (+ 4.8%), but also fell in some regions: Germany (6.1%) and France (4.2%) in early 2016 showed a sharp decline since is very slowly recovered.
Asia has also witnessed two big days of ice and fire. Hong Kong (+ 0.5%) stabilised in the first half of the year. Over the past year, China (+ 21.7%) has continued to dominate all markets. In contrast, Japan (-9.8 per cent), the united Arab emirates (-11.3 per cent) and Taiwan (-19.2 per cent) suffered a setback.
Despite the expected optimism, the us market did not turn a corner in the first half of the year (-5.9%). For more than a year, the market has not improved, and nothing has changed.
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