Watch market: world trends
DOI:
https://doi.org/10.31617/tr.knute.2020(35)03Keywords:
wrist watches, market volume, production, export, importAbstract
Background. The watch market occupies the large niche in the world economy. The leader of this segment is the Swiss watch industry, which produces more than 20 million units of watches per year, or more than 2% of world production. However, this segment of production is currently undergoing significant changes due to the growing of demand for smart watches and the impact of the global Covid-19 pandemic. Therefore, the task is to analyze the condition of the world watch market and the Ukrainian watch market.
An analysis of recent research and publication son this topic has shown that the main issues addressed in the research were related to the evaluation of the quality and authenticity of watches. However, the study of the world and Ukrainian watch markets and possible directions of their development has not been given consideration for a long time.
The aim is to analyze the condition and structure of the watch market and identify general trends in its development.
Materials and methods. In the research general and special methods were used: analysis and synthesis, system approach, comparison and generalization of official data of the Federation of Swiss Watch Industry FH, the State Fiscal Service of Ukraine; methods of logical analysis and generalization of scientific literature, statistical data on export and import of goods are used.
Results. The article considers the development trends of the wrist watch market in the world and Ukraine in 2019 and the first half of 2020. Indicators such as production volume, quantitative and cost indicators of import and export of Swiss watches and smart watches are studied, the market shares of the largest manufacturers of these products according to the world rating are given, the impact of the Covid-19 pandemic on market development is established.
Conclusion. According to research, the wristwatch market in the world will continue to decline until the end of 2020, as the incidence of COVID-19 continues to rise, forcing countries to close markets and reduce production.
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