The 1931 Hamilton wristwatch offerings differed from the previous three years. The reality of the economy came into focus. Banks failed. As one person echoed a familiar saying, “Nobody had any money.”
The collapse of the stock market had a negative psychological effect on the United States economy. In 1930, the country experience negative Gross National Product. In 1931, investment in infrastructure was nil.
Businesses owners came out of denial. They suffered a 50% loss of customers, revenue and demand. Hamilton limited their new designs. Unlike the previous year, they stopped anticipating another grand Christmas season.
Hamilton simplified their offerings to cater to those left with money in their pockets or solvent banks. Production figures show below should give you and idea of Hamilton’s dilemma.
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Hamilton produced approximately 17,000 units in 1931 compared to 46,000 in 1929. The company saw a 63% decline in two years.
One has to question if they experimented with some level of market mix.
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