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19 April 2024, 08:42 AM | #1 |
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Swiss Watch Exports Are Declining
"After more than two years of growth, Swiss Watch exports are declining. According to a report from the Federation of the Swiss Watch Industry, exports experienced a sharp decline in March, falling 16% compared to March 2023."
https://hypebeast.com/2024/4/swiss-w...decline-report |
19 April 2024, 08:47 AM | #2 |
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What exactly will this mean for the US market? Seems like there is still a high demand for watches. With fewer exports you will have less watches so could potentially drive prices higher? Less supply, more demand?
I could be completely wrong. |
19 April 2024, 09:29 AM | #3 |
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The article indicates that exports have dropped due to sales…not the other way around.
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19 April 2024, 10:10 AM | #4 |
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Yep. Pretty much everyone in the industry has admitted to it, including Rolex. Global economy is in a precarious position... not in the least bit surprising to me.
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19 April 2024, 11:00 AM | #5 |
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Swiss Watch Exports Are Declining
I encourage everyone to read the full report. Because of 2023's record growth in Swiss exports, even a normal March 2024 sales volume would look lower.
Hypebeast didn't analyze effectively. Consider this: That was the whole year for 2023. If you'd like to see the source data for 2023 click here > https://www.fhs.swiss/pdf/communique_230112_a.pdf If you want the most recent data underlying the Hypebeast story, click here > https://www.fhs.swiss/eng/statistics.html Sent from my iPhone using Tapatalk Pro
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19 April 2024, 11:21 AM | #6 |
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thx Paul.
Do look forward to more TRF members 'getting the call' they've been waiting for.
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19 April 2024, 06:58 PM | #7 |
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Swiss watch exports plummeting
https://twitter.com/INArteCarloDoss/...fHEp13bKg&s=19
Not looking great for the industry atm! Don't overpay at the grays, guys! :) |
20 April 2024, 09:26 PM | #8 |
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Swiss Watch Exports Are Declining
Watch export sales to China and Hong Kong -40% compared to March 2023.
The downturn is global now. All main markets are in decline. 2024 is a difficult year for the watch industry. Especially for those manufacturers with a large footprint in the Chinese regions. |
20 April 2024, 10:52 PM | #9 |
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I enjoy data and try to examine things for now and project into the future. The challenge with a lot of data is that the data used is too short on the time line. I believe that the watch industry is always in flux and depending on how you examine it you can draw different conclusions. Much of the data is on units shipped and sold. The hidden is profitability on units sold. Sell less watches, make more money is a viable discussion. We will see.
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