Why The Quartz Crisis Was a Good Thing
The quartz crisis is often described as, well, a crisis. As part of the digital revolution that began in the 50’s, quartz watches became highly desirable for their accuracy, low cost and modern design. Because of this revolution, mechanical watches took a back seat in the watch industry. Because of the lack of sales, the Swiss watch industry went from approximately 1600 watchmakers to about 600 watchmakers. This contraction in the Swiss watch industry was of course terrible - many historical brands were wiped out. But even though the removal of many watchmakers from the industry took place, there were some positives that emerged.
It got rid of poor quality
It got rid of poor business practices
Brought to light what was important
Forced Swiss watch companies to innovate
We elaborate on our points above, so check out our video below.