2021 has officially kicked off and swiss watch export results were in. Because of how well 2020 started off the the industry, January results were not as optimistic. Watch exports fell by 11% and the 12 month moving average was also off, falling to around 24%.

The decline can also be seen when you split watches out by price category and material. Steel watches saw a huge decline year over year. It is interesting that watches over CHF 3,000 were closer to 0% change in both units and value. This again could point to a resilient affluent watch market, while those with less disposable income are having a harder time.

Main markets really showed the immense power of the Asia market. China, after having a great January 2020, saw an incredible almost 60% increase in watch exports. They make up a huge 16% of the market as well. The USA and UK were both in the top 6, but Asia really dominated.

February 2021 Predictions
The negative base effect impacted will continue to have an impact on export results next month. It is worth noting that the pandemic hit Asia around this time last year, so that may have an influence on specific regional results. We predict -9% for swiss watch exports for February.