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The Deloitte Swiss Watch Industry - Study 2014 - Changing times

Foreword

"The study highlights the views of watch company executives on the key challenges and opportunities facing the Swiss watch industry.

Growth has been one of the defining features of the watch industry. But while many remain optimistic for growth over the next 12 months, weakening foreign demand is perceived as a significant risk.

While the outlook is not as optimistic as it has been in the last 2 years, notably for China, new opportunities are expected in developing markets such as India and Indonesia, with European and US markets also strengthening. Product innovation and high end watches continue to be a key focus.

The buzz around smartwatches has been building momentum with new developments in functionality and content continually being introduced, each with the potential to be ‘the next big thing’.

The rapid pace of adoption of social media as a primary communication forum within the watch sector has been an interesting evolution in this industry".

Summary

• Industry outlook and demand
• Overall outlook remains positive
• Europe is back
• Swiss sales to foreign tourists to continue growing
• High-end segment continues to drive expectations
• Mechanical watches win export share
• Challenges and risks
• Overall risk outlook
• Availability of qualified labour remains a challenge
• Availability of parts and movements challenging as well
• Business strategies
• New product trends
• Smartwatches: Still a simple buzzword or a new electronic revolution?
• Vertical integration to continue, while horizontal integration is becoming more important
• Marketing and distribution – Sales channels
• Marketing – Traditional and digital

Download the report