Recent research confirms that popularity of wrist- worn wearables provide a halo effect for traditional watches. Morgan Stanley announced the findings of its latest research survey that show positive news for the Swiss watch industry. The survey, the latest in the Firm’s AlphaWise Evidence Series, is taken across US consumers.
The number of respondents who already own a wearable are significantly more likely to purchase/wear a traditional watch.
When looking at the purchasing/wearing intent of traditional watches by respondents who do not currently own a wearable device: 20% of respondents who fall in that category are significantly more likely to purchase/wear traditional watches, further supporting that the popularity of wrist-worn wearables adds to general interest in the watch category.
Caveat is that the survey is taken only across US consumers, a relatively small market (~10%) of total Swiss watch exports. Key will be to monitor coming months, to learn appetite for wearables and purchase behaviour towards the category from the larger markets (Europe, Asia).
Credit: Morgan Stanley AphaWise