The numbers estimated by analysts were gathered from retail partners and other vendors for both Apple and Swiss products. The report added that the combined sales from all traditional Swiss watch makers in the last year are estimated at a total of 21.1 million units, a 13 percent decline when compared to the figures in 2018.
“Analog wristwatches remain popular among older consumers, but younger buyers are tipping toward smartwatches and computerised wrist wear,” writes Neil Mawston, executive director at Strategy Analytics. While it is true that smartwatches such as the Apple Watch have found its place in the overall watch market, traditional ones produced by Swiss and Japanese makers are still relevant to consumers regardless. Although the comparison in sales in the report depicts a “new vs old” scenario, the two industries are not actually directly competing against one another.
Strategy Analytics’ report regarding this is eye-opening nonetheless, but the fact remains that both smartwatches and traditional watches are designed and catered towards different target audiences. Meaning to say, the chances of traditional watches becoming obsolete in the market or the eyes of consumers is very unlikely. (Source: Strategy Analytics via Cnet.)
