8 Best Wrist Watch Makers

Wrist Watch Makers

Apple Watch SalesApple isn't expected to provide sales numbers for the Apple Watch anytime soon. Photo: Justin Sullivan/Getty Images

The Apple Watch may be giving traditional watchmakers a rough time, as new statistics from NPD Group released on Friday show that U.S. watch unit sales dropped 14 percent year-over-year in June, the largest decline since 2008. The industry posted $375 million in sales in the month, an 11 percent drop compared to last year.

Speaking to Bloomberg, head of NPD Group's luxury division Fred Levin said that consumers are most likely to buy Apple Watches that cost less than $1, 000, which puts it into competition with a wide spectrum of traditional wristwatches. Sales of watches in the $50 to $999 price range reportedly dropped in June.

"The Apple Watch is going to gain a significant amount of penetration, " said Levin. "The first couple of years will be difficult for watches in fashion categories."

Levin also points to fashion brands like Timex, Tissot and Guess as having an adverse effect on the market. These brands are saturating the lower end of the watch market. The largest drop in watch sales was for watches that cost between $100 to $149.99. Those watches saw a 24 percent sales decrease.

Source: www.ibtimes.com
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