are luxury watch prices dropping

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  • Why do people buy luxury watches?

  • Outside the collector鈥檚 community, luxury watches purchases are driven mainly by emotional significance, a promotion, a marriage, anniversaries, and birthdays. COVID-19 has brought a hammer down the luxury industry; Boston Consulting Group estimates a $600 billion decline in sales for 2020 worldwide.

  • What is the relationship between China and Swiss watch brands like?

  • Swiss watch brands have a complicated relationship with China. While China is the largest consumer market for most Swiss luxury watch brands, the might of Chinese manufacturing is a critical part of the Swiss luxury watch industry’s supply chain. And with the virus hurting China with nationwide lockdowns, the trade prepared for a challenging year.

  • Is e-commerce the future of wristwatch sales in India?

  • Ecommerce forms only a small portion of overall wristwatch sales in India. Titan, the largest seller of wristwatches in the country with an estimate of 15 million pieces per year, quotes e-commerce sales in the ballpark of 10-12 per cent of their overall sales with continuous growth.

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