Time’s running out for wristwatches
September 15, 2008 by Shane BorerPosted in: "Seemed like a good idea at the time", Bad investments, In this week's e-newsletter, Latest news & views, Tech failure
You might be surprised to find out what the next niche market could be.
California’s Jewelry Consumer Opinion Council recently announced watch companies have seen an 15% average decline in sales since 2006.
Companies and retailers claim the watch business as a whole is slowly ticking away — and for the most part, technology’s to blame. Since more consumers are keeping track of time via their cell phones and computers, there’s less need for traditional wristwatches.
Is time really running out for watches? Sales of high-end timepieces, like Rolexes, have remained constant over the last few years. However, faced with a major decline in sales, middle-ranged companies like Timex and Fossil have begun phasing out watch production to make way for sunglasses, clothing and other accessories.
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September 19th, 2008 at 2:55 pm
yeah watches are so yesterday. i keep up with the “times” on my analog pager
September 22nd, 2008 at 10:20 am
Guess I’m old-fashioned…I still like my watch. My cell phone is usually in my purse and I don’t like having to pull it out to check the time. However, I do check the time on my computer instead of checking my watch. So I guess I’m not totally hopeless…at least in one area!