{"id":341290,"date":"2017-05-18T11:06:47","date_gmt":"2017-05-18T03:06:47","guid":{"rendered":"http:\/\/techcrunch.com\/?p=1492339"},"modified":"2017-05-18T11:06:47","modified_gmt":"2017-05-18T03:06:47","slug":"swiss-watch-exports-dropped-for-a-third-year-in-a-row","status":"publish","type":"post","link":"https:\/\/people.utm.my\/asmawisham\/swiss-watch-exports-dropped-for-a-third-year-in-a-row\/","title":{"rendered":"Swiss watch exports dropped for a third year in a row"},"content":{"rendered":"
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According to the watch press, this year\u2019s Baselworld in Switzerland was a graveyard. \u201cThe Baselworld show, ended March 30, was grim,\u201d said Joe Thompson in Watchtime<\/a> Magazine, an enthusiast publication. In short, a once might industry is contracting at an alarming rate.<\/p>\n

A further harbinger of death is far simpler to understand. Swiss exports have fallen for the third year in a row. This hasn\u2019t happened since 1930, in the depths of the Depression.<\/p>\n

\u201cI spoke with dozens of watch executives and retailers: the consensus view is that the industry is ailing,\u201d wrote Thompson.<\/p>\n

Experts attribute the fall to a few factors. First, American imports have fallen 28% as more and more people abandon watches or settle on Apple Watches. Overproduction and overpricing are forcing watches into the gray market and younger people don\u2019t want to buy watches at official sellers, instead choosing to go online.<\/p>\n