Jordan O'BrienTag Heuer, Breitling, Omega, Seiko and other watch makers could be suffering the wrath of smart wearables; with recent sales figures suggesting that traditional watches have fallen out of fashion with many consumers.
According to NPD Group, traditional watch sales dropped by 14% in the United States in the month of June 2015, compared to the same period last year.
Given that this data is limited to just the one month period, it could be that it’s just a blip and not representative of a trend – but some industry pundits have stated that Apple could have something to do with the drop.
How is Apple involved? Well, the company’s CEO, Tim Cook, claimed that Apple Watch sales actually grew in June, despite those in the industry claiming otherwise.
Add that to the fact that Bloomberg is reporting that June saw the biggest year-over-year drop in watch sales since 2008, then you begin to get a picture on how the market is fairing.
Watches that sell for less than $100 (£65) are those worst affected by the drop in sales, which could be caused by the saturation of the market or low-cost fitness trackers which also happen to tell the time.
The sub-$1000 (£650) market also suffered however, so expensive smartwatches could also be having an effect on the market.
Apple had always said that it wanted to take on the fashion industry and it seems that it might be a war it is winning; even if the company refuses to give sales figures.
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