How a luxury watch brand wins over the locals in Switzerland during and after the COVID 19 crisis

Abstract

Even though tourism plays a massive role in the Swiss market, 70 to 80 percent of the profit is generated by local customers. Before the Covid-19 outbreak, Switzerland was able to highly benefit from Chinese Outbound Tourism due to its absolute numbers of foreigners arriving and their daily spending power. Due to the closure of non-essential businesses, travel restrictions and a change in consumer buying behaviour and patterns of consumption of luxury items, new tactics must be implemented and adapted to reach and engage with new local consumers.