The 2024 edition of Geneva Watch Days ended on a positive note, despite a difficult economic context marked by a decline in exports and demand in China. The event was characterised by a relaxed and informal atmosphere, although each brand spoke cautiously about its economic situation, reflecting a highly competitive market.The watch industry is going through a post-Covid cycle reversal, with a transition from a period of strong demand to a situation of overstocking and falling sales, particularly after a phase of impulse buying. This situation is leading to adjustments such as destocking and discounting, exacerbated by a luxury crisis in China.
Despite these challenges, the best-positioned brands with the right products and networks are managing to sail through without too much damage, while the general mood of the event remains upbeat and light-hearted.