September was one of the best months in the history of the Swiss watch business, according to new statistics released by the Federation of the Swiss Watch Industry (FH).
FH said that its recorded exports for September—2.2 billion francs—represented a 19.1% increase in exports compared with September 2021.
Overall, the Swiss industry appears to be headed for a record year. Year to date, exports stand at 18.1 billion francs, 12.6% higher than the first nine months of 2021, which was itself a record year.
The strong September results were propelled by healthy demand from the United States, the world’s largest market, which recorded a whopping 33.2% in imports of Swiss watches in September. There was also a nice boost in demand from Japan (up 34.2%), Singapore (up 38.9%), and the United Arab Emirates (up 36.1%). The markets in China, the United Kingdom, Italy, and Germany also saw double-digit growth.
Among major markets, only Hong Kong saw a decline, with sales falling 2.8%. That once-dominant market is now ranked fifth in the world, and its watch sales are below where they were prior to the COVID-19 pandemic, FH said.
As for as price points, there was an increase in demand for watches priced below 200 francs (export price), but a marked decline for watches in the 200–500 francs range. Exports of watches priced at more than 500 francs saw a leap in value of 22.6%.
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