Watch sales drop 21 percent in May-Market Survey-Magazine-IRISPANCY FASHION ACCESSORIES & JEWELRY

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Magazine > Market Survey > News Content

Watch sales drop 21 percent in May

7/4/2009 3:27:56 PM

The new Stuller Watchstrap Collection helps independent retail jewelers avoid the hassle of long lead times, large orders and unreliable delivery, according to the company.

Randolph, N.J.--According to the LGI Network's June Time Tracker Newsletter, watch sales in May experienced a steeper decline than in April, but a more modest decline than seen in the first three months of the year.

Watch sales declined 21 percent on a same-store dollar basis in May, and 19 percent on a same-store unit basis. This amounts to $404 million worth of fine watches sold at manufacturer's suggested retail prices and 538,0000 units for the month.

All price points experienced declines, according to LGI, with timepieces in the $10,000-$25,000 price range faring the worst.

The LGI Network (LGI) provides marketing and sales information to the world's leading luxury goods retailers, manufacturers and distributors. LGI launched its initial service, Time Tracker in February 2004, which focuses on the U.S.-branded watch market.

In other watch news, Stuller Inc. recently introduced a new Watchstrap Selling System designed to reduce inventory investment.

The rotating selling system can hold up to 168 straps or metal bands in a single display unit and includes pullout drawers for extra storage.

In addition, according to Stuller, the watchstrap collection itself helps independent retail jewelers avoid the hassle of long lead times, large orders and unreliable delivery by offering:

--All watchstraps in-stock for next-day delivery.
--No minimum purchases.
--Watchstraps include both short and long lengths.
--Wide selection of leather (basic and exotic), metal and divers bands.
--Leather straps include spring bars.
--No multiple displays required.

"Our primary focus has become reducing inventory investments while raising profitability," Matthew Stuller, Stuller founder, president and chief executive officer, said in a media release. "For example, the metal bands in our new Watchstrap Selling System fit multiple-sized watches and, as a result, can reduce inventory levels by 66 percent."

To receive The Watchstrap Collection catalog, call (800) 877-7777 and ask for flyer No. 800, or view the entire collection online at Stuller's Web site, Stuller.com.

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