ABSTRACT
The expert survey introduced in the previous chapter (Chapter 1) also assisted in investigating current trends and challenges in the Swiss luxury watch industry. The empirical evidence from the survey among industry experts highlights that black-market sales, decreasing demand, and counterfeit watches are important challenges for the industry, followed by anti-corruption legislation in the most important export market, China. Serial numbers and product barcodes, legal countermeasures, and blockchain-based ownership registries were rated as the most important applications against counterfeits and black-market sales. According to the experts, CSR and sustainability play an important role for their companies. Further, the experts see a change in perception toward the luxury watch industry with respect to increasing digitalization and shifting consumer demands. Younger generations (millennial consumers) are reported to demand higher levels of personalization. They may opt for more ethical and sustainable consumption choices than more senior consumer groups. Practitioners may consider these shifts, particularly against a new digital paradigm that is expected to affect all company levels.
