Story Highlight
– Swiss watch exports dropped 3.3% in January 2026.
– Exports rose 10% in February 2026, mixed performance overall.
– Hong Kong, China, and Singapore exports continue to decline.
– US market shows strong growth, with 28.9% sales increase.
– Prestige brands drive growth despite lower unit sales.
Full Story
Upcoming in Geneva, Swiss watchmakers are gearing up for their annual showcase, exuding optimism despite a downturn in export figures for the last two years, along with a shaky start to 2026.
In January, global export figures fell by 3.3%, but February saw a rebound with a 10% increase. Nevertheless, several of the largest 30 markets for Swiss watches are reporting negative trends this year, a situation compounded by the recent conflict in Iran that began six weeks ago.
The United States has recorded a 5.3% rise in Swiss watch exports for the initial two months of 2026, while Japan showed an increase of 6.5% and the UK reported a 2.4% uptick. In contrast, exports to Hong Kong have continued their decline with a 1.5% drop for January and February. China’s exports decreased by 3.2%, and Singapore’s figures fell by 4.5%.
While export statistics serve as a useful indicator, they do not fully reflect the real-time performance of the industry, as they account for stock entering a market rather than actual sales to consumers.
To enhance industry insights, UK-based GfK and the US’s Luxury Watch Barometer (LWB) are collecting and analysing data directly from retail point-of-sale systems in major jewellery and watch outlets.
The latest findings from LWB highlight the resilience of the US market, indicating that average sales per retail outlet surged by 28.9% in the first quarter of 2026 compared to the same period last year.
Sales growth across various segments can be partially attributed to an 8.3% rise in average prices per watch. Although unit sales per outlet showed increases in nearly all categories, the luxury watch segment experienced the most significant rise, with a 26.4% increase in units sold. However, in this category, the average price only saw a modest 5.5% rise.
Prestige watch brands, typically priced above $15,000 and including names like Patek Philippe, have become critical in driving growth within the US watch sector. This is largely due to consumers’ willingness to pay increasingly higher average prices, which have reached $59,901.
Despite a 3.8% decline in unit sales per outlet during the first quarter, the overall sales per outlet increased by 22.8%, reflecting the ongoing strength of the luxury watch industry in the American market.
