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China’s Luxury Watch Buyers Explains Why Apple and Switzerland are on a Collision Course

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China’s rising shopping class has been a huge growth driver for both Apple and the Swiss watch industry.

Greater China generated almost 20% of Apple’s revenue last year and more than a third of its growth. Meanwhile, China and Hong Kong accounted for 25% of global Swiss watch exports last year, despite a continued decline in luxury gifting to government officials, according to a research report from RBC Capital Markets.
Chinas Luxury Watch Buyers Explains Why Apple and Switzerland are on a Collision Course 2

Chinas Luxury Watch Buyers Explains Why Apple and Switzerland are on a Collision Course
About 60% of respondents said they were interested in buying a watch that costs more than $800 over the next year.
Classic mechanical watches were the most popular type, with a pricing “sweet spot” between $1,600 and $4,000.
The brands Chinese buyers want: Omega, Rolex, Longines, Cartier, and Tissot.

One thing about watch collectors is that they tend to buy many watches. Of the Chinese shoppers surveyed who want to buy a smartwatch, more than half already have two or three watches.

If the smartwatch becomes the next essential tool, and the Apple Watch takes China, it will be difficult for the Swiss watch industry to maintain its recent boom.

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