In which year did the 'quartz crisis' impact the watch industry?

The 'quartz crisis' refers to a significant transformation in the watch industry that occurred in the 1970s. This crisis was marked by the rise of quartz technology, which allowed for the production of more accurate and affordable timepieces compared to traditional mechanical watches. The introduction of quartz watches disrupted the market, leading to a rapid decline in the sales of mechanical watches, particularly in countries traditionally known for their watchmaking expertise, such as Switzerland.

1978 is often cited as a pivotal year because it was around this time that quartz watches became widely available to consumers, leading to substantial changes in consumer preferences and manufacturing practices. The impact was profound: companies that failed to adapt to the technological shift found themselves at a competitive disadvantage, and many iconic mechanical brands struggled or went bankrupt due to the sudden preference for quartz timepieces. This year marks a key moment in the intersection of technology and consumer goods in the watch industry, ultimately reshaping the landscape of watchmaking permanently.