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Rui Zhong economy: report that the Chinese people are still promoting the Swiss watch industry development

Release date:2017-05-24

According to the British "Financial Times" reported that China's luxury consumption growth slowed the report is not uncommon. On the face of it, exports of Swiss watches to China have fallen substantially in recent years. However, although these data are theoretically accurate, there is growing evidence that they reveal only one aspect of the story.

Swiss Watch Industry Association (Fédération de l’Industrie Horlogère Suisse,Referred to FH) In its annual report, the distribution of the Swiss watch in 2013 was provided throughout the world. The report confirms that the Swiss watch exports to China fell by 12.5% in 2012. However, further analysis of the above data (and a new report on the Chinese interest in luxury watches) will find that China is still driving the growth of the watch industry and will continue to lead the development of the industry in the coming years.

Analysts said the reduction in watch exports to mainland China was due to the growing number of Chinese consumers recognizing that VAT, import tariffs and 20% of China's levy on imports of watches included watches The price pushed to the point of unattainable. As for another reason, it is because the Chinese people more and more to those watches selling much cheaper countries travel.

According to a study published in BusinessWeek in January, China's outbound tourism in 2013 reached 97 million, much higher than the 83 million in 2012. In addition, the number of holders of passports in China is also increasing rapidly. A report published last month by China Youth Daily shows that buying luxury is a "big reason" for Chinese citizens to travel overseas.

Although the Swiss watch exports to China fell, but the Chinese tourists often go to countries and regions, exports have increased dramatically.

FH's report shows that the Swiss watch exports to the United States over the past two years increased by 12.8%, exports to the UK increased by 44.5%. As for the shrewd Chinese tourists as high-end tourist destination in Korea, the same period the Swiss watch exports increased by 35.6%.

"It is not the case that luxury and reciprocity should be Chinese," he said, "people are taking a balance between luxury and China." In the luxury goods industry, sales from China Accounting for 8% to 10%, while sales from Chinese accounted for about 35%. "

The Chinese interest in luxury watches is increasing dramatically, this view in the digital luxury goods group (Digital Luxury Group, referred to as DLG) recently published "2014 Global Watch Report" (World Watch Report 2014) also confirmed. DLG is a strategic and research firm headquartered in Geneva. The report pointed out that last year the global search for luxury watches 23% from China, the proportion of higher than any other country, higher than the data in 2013 59% higher.

The report also shows that China's interest in women's watches increased by 145%. In addition, according to Baidu (Baidu) statistics, 2013 China's luxury watches every day, the number of search requests for 8.4 billion times. Baidu is a Chinese Internet search service provider, the company also participated in the writing of this report.

Some experts believe that, according to the above findings, assuming that China's unbearable domestic tax remains at the current level, the current trend will continue.