The latest statistics from the Federation of the Swiss Watch Industry are out. November data is in the red, and that is to a large extent due to Hong Kong figures dragging the overall number (way) down. Stable growth was recorded in other regions with a few outliers.
The United Kingdom (-17.3%), France (-17.4%) and the United Arab Emirates (-27.8%) also pulled the figures down. On the other end, Singapore (+29.6%), South Korea (+16.7%) and the Netherlands (+67.4%) performed significantly better than in 2018.
‘The fall was attributable to steel and precious metal watches. At the same time, the total number of items continued to decline in November (-355,000 items). Steel watches and those in the Other materials category saw particularly sharp falls.’