Swiss watch exports continued to report steady growth in November of 2018, with monthly sales reaching CHF 2.06 billion (about the same in U.S. dollars), a 3.9% increase over November of 2017. The increase continues the overall growth trend in the industry, though the speed of increases has steadily slowed in the latter half of 2018.

Gold-steel drove much of the rise, with sales increasing 13.8% over November of 2017. But steel sales, the largest category, moderated this growth, remaining flat year-over-year. The number of steel units sold actually dropped 5%. Trend spotters, take note!

Performance in price segments varied widely, with the only increases in sales of watches over CHF 3,000, which were up 8.4% in sales. The CHF 500-3,000 category remained stable, while the under CHF 200 and CHF 200-500 category dropped significantly in value, by 12.6% and 13.6% respectively. This is a trend we recently wrote about in “Watches and the Rise of Affordable Luxury.” Throughout the Swiss watch industry’s sustained growth period, the boom has been driven by the super-luxury watches, and not the low end or “entry-level” luxury space.