Luxury Watch Sales Decline. In fact a recent study conducted by management consultancy firm bain predicts the global sales of luxury handbags clothing and cosmetics will decline by 20 to 35 per cent in 2020. Covid 19 has brought a hammer down the luxury industry.
The watches clocks market is expected to decline by 7 8 in the year 2020 before recovering to reach a revised market size of us 73 3 billion by the year 2027. The stock price of one of the largest watch companies swatch which owns longines harry winston tissot and omega is. The question is whether or not smartwatch sales are actually hurting swiss watch sales.
Several factors have contributed to the decline in luxury watch sales.
Several factors have contributed to the decline in luxury watch sales. For watchmakers though the pain of the sales downturn is already evident. The strong swiss franc china s crackdown on luxury gift giving tumbling oil prices currency turbulence in russia. Several factors have contributed to the decline in luxury watch sales.