As several reports have recommended, Apple Watch is consumption into the traditional watch business. Now, analysts are predicting that request for the Apple Watch this holiday season will eat at sales in the already-slowing traditional watch industry.
As noted by MarketWatch, Citizen’s Bank clarifies that by charging more for its “important tech products,” Apple is taking a bigger share of discretionary expenses in general. This year more than past years, Citizens Bank imagines the jewelry industry to take a hit from this due to the new Apple Watch.
“By charging extra for these crucial tech products, it’s taking the share of wallet from other optional items,” said Jaime Ward, group head of Citizens Bank’s trade finance group. “Jewelry will inappropriately be hurt by that.”
Meanwhile, Cascend Securities assumes Apple to sell 10 million Apple Watch units through the December quarter, with sales secretarial for “almost $9 billion” for 2018 as a whole.
“We imagine Apple will sell almost 10 million watches in the December quarter and could account for nearly $9 billion total calendar year 2018 sales,” wrote Cascend Securities. “Competing watches predictable for the holiday period from Google and others are unlikely to be a matter for Apple: customers already in the Apple ecology will stay with the Apple Watch to use the joint features.”
Of course, Apple doesn’t break down out genuine Apple Watch sales like it does iPhone, but we can usually get a sense of development through the company’s “other” category.
Lastly, Deloitte economic predictor Daniel Bachman put the Apple Watch’s petition rather bluntly. “The cool item to get under the Christmas tree is an Apple Watch, not essentially a watch from the local jewelry store,” he said.
The Apple Watch has previously had a great impact on the traditional watch business. Earlier this year, a report proposed that the Apple Watch was on track to overhaul the entire Swiss watch industry. Are you buying anybody an Apple Watch this holiday season? Let us know down in the comments.
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