Why Do British Retailers Sell Swiss Watches For Bulk Storage?

When the two largest markets were in a retrograde position, the growth of the export of Rui watches in February could be speeded up.

The export volume of Swiss watch increased by 3.4% to 1 billion 755 million 400 thousand Swiss francs in February, but Rene Weber, analyst at Bank Vontobel AG, pointed out that if the contribution of the United Kingdom was excluded, the export growth of Rui watches in February was only 0.7%, roughly the same as 0.2% in January.

Federation of the Swiss Watch Industry (Swiss Watch Industry Federation) said that the cardinal effect is still very negative.

In the first 58.3% months of February, the UK imported 80% Swiss francs Swiss watches, an increase of 40.9% in the first two months of last year, compared with 171 million 500 thousand pounds in the same period last year. The UK increased its growth rate by 80%.

Seeing that the euro March 29th deadline is approaching, the prospect of Europe is still uncertain. All walks of life in the UK are very worried that Europe will produce logistics delays and tariff losses and eventually disrupt the entire European supply chain.

If the world's fifth largest economy fails to get rid of Europe without agreement, the luxury industry will lose 6 billion 800 million pounds a year, according to a study by Frontier Economics, a consultancy of Walpole, a luxury lobby lobby.

As the third largest market in the mainland, China's mainland resumed 15.1% faster growth, ending two consecutive months of decline. In January, it faced a 14.8% decline in the strong contrast base (up 44.3% in 2018).

Japan achieved strong growth for two consecutive months. Its growth in 1 and February reached 28.8% and 19.4% respectively. Singapore's 18.6% growth rate also hit a record high in February.

Hongkong and the United States fell by 3.8% and 6.6% respectively.

In February, the export market of the low price watch market continued to shrink while the luxury market led growth.

The export price of watches exported below 200 francs was recorded a decrease of 14.7%.

On the other side, IDC (International Data Corporation) predicts that in 2019 and even the "visible future", wearable devices can maintain a robust double-digit growth. The biggest threat to the low price watch is smart watches, which account for 44.2% of the wearable device market in 2018.

The export price of Swiss watch exports between 500-3000 Swiss francs decreased by 5.2% in February, 5 months in the past six months, and 7.4% in the 3000 francs year-on-year.

Baselworld (Basel world watch and Jewellery Fair), one of the two exhibitions of Rui BIE industry, will be opened on Thursday.

Swatch Group AG (UHR.S) Swatch group announced its withdrawal from Baselworld in July last year. Chief executive Nick Hayek recently reiterated that it would not plan to return to the exhibition in the next few years, "the world has changed.

No longer needed (Baselworld), "he told reporters.

In the face of Swatch Group AG, Swatch group, Audemars Piguet Audemars Pigeut, Richard Mille Richard, Miller and so on, more and more industry giants withdraw from the exhibition. The SIHH (Geneva international senior watch exhibition) and Baselworld decided to adjust the schedule, starting from 2020, and holding it back to back at the end of April.

Until this year, the two occupied the January and March respectively.

Author: Lin Biying