Wristwatch sellers predict industry's end
KENSINGTON, Pa. (UPI) -- The California-based Jewelry Consumer Opinion Council said watch companies have reported declining sales of between 8 percent and 15 percent since 2006.
Watch companies and retailers said the business seems to be on its way out as more and more consumers gets their time updates from cell phones and computer desktops, the Pittsburgh Tribune-Review reported Tuesday.
"The business seems to be dying out," said Derek Molnor, owner of Derek Molnor Vintage Watches in New Kensington, Pa. "Twenty years ago, there were a lot more watches around and a lot more interest in it. People are moving on."
While sales of higher-end wristwatches, including Rolexes, seem to have remained consistant, falling sales have led companies including Timex and Fossil to begin phasing out their watch production in favor of sunglasses and other accessories, the Tribune-Review reported.
"You can't make enough on watches to stay alive," Buschek said. "Yes, you're going to see the disappearance of wristwatches."
Copyright 2008 by United Press International
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