Fine Watch Sales Decline Moderates
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01.09.09, 11:04
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Retail
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Jewelry Biz-News quotes new data from LGI Network, a provider of marketing and sales information to luxury goods retailers, manufacturers and distributors, according to which luxury watch sales for July 2009 declined in comparison to the same month the previous year.
According to the data, the overall market for fine watches declined by 20% on a same-store dollar basis with $329 million worth of fine watches sold at MSRP value. On a same-store basis, the market contracted in unit terms by 18%, with about 394,000 units sold.
Nevertheless, the data indicate that the decline in luxury watch sales continues to be more moderate month by month, which may signify that the downward trend may be losing momentum.
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By: Rachel Lieberman, Israel Diamond Industry Portal
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