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According to Morgan Stanley smartwatches are spanking Swiss watches. In 2019 the firm said that 67.3 million smartwatches were sold versus 20.6 million Swiss watches.
Apple sold 26.3 million alone, up from 23.4 in 2018.
Further, even smartwatch revenue is up. The Apple Watch sold $11.7 billion in revenue for Apple, while Rolex, the second largest watchmaker, sold $5.2 billion.
The next biggest smartwatch maker, Garmin, saw sales of $2 billion last year, beating both Patek Philippe and Audemars Piguet in terms of revenue.
Photo by?Hermes Rivera?on?Unsplash
There is barely any pertinence to comparing smart watches, most of which are sold through intensive distribution, with Swiss watches, that are either sold though selective or exclusive distribution.
To this day, there has been no methodological study carried out to show that smart watches eat market shares of dumb watches. Their price point puts them in competition with the likes of designer watches, which people buy because they offer variety nice and do not need attention. The latter still represents a market of at least 675 million watches out of the 1,200 million produced globally.