Visitors during the first of two public days of the Watches and Wonders GENEVA, in Geneva, Switzerland, Saturday, April 1, 2023. / Photo: KEYSTONE/Pierre Albouy via Watches and Wonders
Formerly reserved for industry players, Swiss watchmaking's landmark event is trying to seduce a new generation of buyers by opening up to the public for three days. "We are seeing an overall slowdown," said Karine Szegedi, the consumer industry lead in Switzerland at the auditing firm Deloitte. She said revenge buying had peaked and also cited inflation, rising interest rates and even layoffs in the technology sector affecting the consumer base for luxury goods.
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