Now Available: Watches in Switzerland

From: Fast Market Research, Inc.
Published: Wed Oct 15 2014

Industry sources estimate that approximately 50% to 60% of the total watches category turnover in Switzerland is generated through tourism, which underlines its dependence on the tourist trade. In particular, the visitors from China and the Gulf States are extremely important to maintain the buoyancy of the category due to their high purchasing power. For the Chinese tourists, buying luxury or prestige watches in Switzerland ensures that these are the genuine articles and not counterfeits. It also works out cheaper as high import taxes are imposed on them in China. In addition, a luxury Swiss watch is a status symbol, which is a must have when visiting Switzerland.

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Competitive Landscape

The Swatch Group ranked first in watches category with a value share of 38% thanks to the strength of the Swatch brand. The Swatch Group however, at GBO level had a value share of 48% owing to a large portfolio of well-known, well-trusted brands it has amassed over the years. Although these are owned by the company they are managed by various subsidiaries in Switzerland. The number of leading brands enables Swatch Group to tap into a wide audience and expand its customer base. Among the leading brands are Tissot, Rado, Omega, Glashutte, and Longines with each targeting a specific area ranging from luxury to mass-market.

Industry Prospects

Watches in Switzerland will continue to rely on a thriving tourist industry also during the forecast period as per the review period. The preference of tourists with high purchasing power for 'made in Switzerland' watches will support the growth. Thus, the category is expected to see a value CAGR of 3% at constant 2014 prices over the forecast period. Nonetheless, these prognoses may be affected by a decline in the tourist trade if the Chinese or the global economies deteriorate over the forecast period. The high Swiss Franc could be another possible threat that will shrink the market for Swiss watches.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Watches industry in Switzerland with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Watches industry in Switzerland, our research will save you time and money while empowering you to make informed, profitable decisions.

The Watches in Switzerland market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth

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