​​⌚️ Smart Devices Are Eating the Accessible Watches Market (under £500)

- While luxury’s moat remains, watchmakers have struggled to build hype for accessibly priced timepieces as consumers increasingly abandon them for smart devices.

- Popular upstart brands like Mvmt and Daniel Wellington signal that success in this price category is possible with the right marketing.

- Brands need to focus on their history and heritage: reissues of iconic watches like the original G-Shock have performed well with consumers.

A drop in demand for cheaper watches is causing trouble for Switzerland’s manufacturing base and Swiss watch companies specialising in watches under £500. Since 2015, the number of Swiss watches being exported has declined by a third, per the Federation of the Swiss Watch Industry, and most of that shrinkage has been in watches that cost under 200 CHF (£164). Exports are approaching the lows seen in the mid-1980s when Japanese quartz technology brought a raft of cheaper competitors for established brands.

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🦅 @PerspectiveIX via VogueBusiness.