Interest in traditional watches remains strong, but the latest available figures do not show a simple, across-the-board rise in demand for luxury mechanical watches. Swiss watch exports fell in 2025 and edged lower in the first half of 2026. In that half-year, more watches shipped, but the increase was driven mainly by mechanical watches priced below CHF 500 at export. Survey findings point to self-reward, appearance, the in-store experience and access to pre-owned models as relevant motivations—without proving that any one factor is causing luxury mechanical-watch sales to grow.
Are luxury mechanical watches still growing?
There is no complete global series in the available evidence that isolates luxury mechanical watches and measures their final sales to consumers. The clearest current market indicator is Swiss watch exports, which cover a major watch-producing country but are not the same as consumer demand or sales at retail.
The Federation of the Swiss Watch Industry (FH) reported CHF 25.6 billion in Swiss watch exports in 2025, down 1.7% from 2024. Exported watch units fell 4.8% to 14.6 million. FH said the highest export-price segments showed steadier demand than most products, but that does not amount to growth across luxury watches.
In the first half of 2026, Swiss watch exports were CHF 12.8 billion, down 0.7% year over year. Wristwatch export value declined 0.6%, while the number of wristwatches shipped rose 2.3% to more than 7 million. FH notes that export statistics reflect shipments, not end-consumer sales; timing, inventory, logistics, currencies and product mix can all affect the totals. See the FH’s first-half 2026 report.
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What the export figures say about different price segments
Export price bands help explain why a rise in units should not be described as a luxury boom. These are Swiss export prices, not retail prices paid by watch buyers.
| Period and measure | Export price band or category | Reported change |
|---|---|---|
| 2025 export value | Above CHF 3,000 | Down 1.9% year over year |
| 2025 export value | CHF 500–3,000 | Stable year over year |
| 2025 export value | Below CHF 500 | Down 4.5% year over year |
| First half of 2026, exported mechanical-watch volume | Below CHF 500 | Up 23.8% year over year; FH said this segment accounted for much of the overall volume increase |
The 2025 price-band figures come from the FH’s 2025 export report; the first-half 2026 volume figure is from its January–June 2026 report. The latter is specifically a volume increase in mechanical watches below CHF 500 at export price, not evidence that luxury mechanical watches grew.
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What may be driving interest in watches?
Consumer surveys offer clues about why people consider watches, but their findings cover traditional watches broadly—not mechanical watches alone or luxury models specifically.
Self-reward, appearance and identity
In Deloitte Switzerland’s 2025 global watch-industry survey, self-reward was a leading purchase motivation among millennials, alongside looking good and telling time. Appearance mattered to 17% of respondents overall, while functional timekeeping was especially prominent among baby boomers. These results suggest that a watch can serve as both a practical object and a personal expression; they do not establish why buyers choose a particular mechanical model, brand or price point.
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Deloitte surveyed 6,500 consumers in Switzerland and major export markets, with Mexico included for the first time, as well as 111 senior executives. Consumer fieldwork took place in June and July 2025. Seventy-two percent of respondents said they planned to buy a traditional watch for their own use in the following 12 months. That is stated purchase intention, not completed purchases, and the category is broader than mechanical watches. The details are in the Deloitte Switzerland Watch Industry Study 2025.
Trying a watch on and getting advice
For many buyers, choosing a watch involves more than comparing specifications online. Deloitte reported that more than 60% of respondents bought watches in stores, while 30% preferred online shopping. Among respondents who cited reasons for shopping in store, 51% named the ability to try on a watch and 44% valued advice and personal interaction. FH President Yves Bugmann has also said some buyers prefer trying on a watch and receiving qualified advice.
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These findings support the importance of a tactile, service-oriented purchase experience, but they do not prove that in-person retail causes higher demand. Deloitte Switzerland’s 2025 study release describes the survey results; Bugmann’s comments appear in a Swiss Confederation SME portal interview.
Pre-owned access, affordability and distinctive models
The pre-owned market can give buyers a lower-cost route to watch ownership and access to models that are unique or no longer available new. In Deloitte’s survey, 40% of Gen Z respondents said they intended to buy a pre-owned watch in the next 12 months, compared with 20% of baby boomers. Among pre-owned customers, 53% cited affordability and 36% access to unique or unavailable models as motivations.
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That makes pre-owned watches a meaningful part of the broader market, particularly for younger respondents. The survey does not isolate pre-owned luxury mechanical watches, so its figures should not be treated as a measure of demand for that narrower category. Deloitte’s study release provides the age-group and motivation findings.
Durability, heritage and sustainability
Bugmann describes a Swiss watch as a durable object intended to be passed down. In the same interview, he says customers increasingly value sustainability and that the sector is working on energy consumption and production methods. These are industry perspectives, not quantified evidence that durability or sustainability is a leading cause of luxury-watch purchases. The interview with the FH president provides the context for those comments.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why the market picture varies by region
Swiss export totals conceal substantial differences between destination markets. In the first half of 2026, Swiss exports to India rose 31.5% and to Mexico 14.9%, while exports to China fell 5.0%. Exports to the United States declined 14.8% against a high comparison base, although FH described the two-year comparison as positive. These figures describe exports to those destinations—not the change in local consumer demand for luxury mechanical watches.
The industry body has also cited currency movements, tariff uncertainty, cautious retailer restocking and higher gold prices as pressures on the sector. Its 2025 report pointed to US trade policy, a second year of steep contraction in China and Hong Kong, record gold and Swiss franc prices, and weakness across most products. Those are FH’s explanations of the operating environment, not quantified estimates of how much each factor changed consumer purchases. The 2025 report and first-half 2026 report set out the figures and industry commentary.
How to interpret claims about rising demand
- Check what is being counted. Export value, shipped units, survey intentions and completed retail sales are different measures.
- Check the category. Traditional watches are not all mechanical; Swiss watches are not all luxury; and luxury watches are not all Swiss.
- Check the price basis. FH’s price bands refer to export prices, not store prices.
- Check the period and geography. A result for one half-year or destination market does not establish a universal trend.
- Separate a plausible motivation from a proven cause. Survey responses and industry commentary can explain why some people are interested in watches, but they do not prove that those factors drove luxury mechanical-watch sales.
Presence Switzerland’s government overview offers historical context on the Swiss watchmaking industry, but its figures include 2022 or older snapshots and should not be read as current market statistics: Watchmaking industry.
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