71 Luxury Watch Brands Face Gen-Z Shake-Up

A record 71 luxury watch brands gathered in Geneva to showcase their latest creations, but beneath the bullish attendance figures, executives are worried about the future. Gen-Z consumers are driving a seismic shift in buying trends, prioritizing excitement and emotion over status and brand loyalty.

The younger generation is helping fuel the growth of the secondary market for secondhand and vintage watches, buying online to avoid waiting lists and access discontinued models. This trend is being felt across the industry, with the Swiss watch sector facing shrinking exports due to changing buying habits and competition from Japanese and Chinese contenders.

According to Jean-Christophe Babin, president of Geneva Watch Days and chairman of Bulgari, the industry has been too cautious in responding to these changes. Babin believes that the sector has focused too much on technical improvements, rather than delivering bold new ideas that can attract new buyers without alienating existing ones. The Royal Pop collaboration between Audemars Piguet and Swatch is cited as an example of the kind of disruption that can achieve this.

The rise of Chinese-made movements, which are now comparable in quality to those from ETA SA or Sellita for standard complications, is also changing the landscape. As the industry adapts to these changes, it is clear that the traditional model of selling fewer, but more expensive timepieces, is no longer sufficient.

## What happens next The Swiss watch industry is at a crossroads, and its ability to innovate and adapt to changing tastes will be crucial in determining its future success. With Gen-Z consumers driving the growth of the secondary market and prioritizing excitement over status, luxury watchmakers must find new ways to attract and retain customers.

The stakes are high, with the industry's exports already shrinking due to changing buying trends and competition from new contenders. However, with the right approach, there is also an opportunity for luxury watchmakers to tap into the excitement and emotion that drives younger buyers, and to create a new generation of watch enthusiasts.

## Why it matters The shift in buying trends among Gen-Z consumers has significant implications for the luxury watch industry. As younger buyers prioritize excitement and emotion over status and brand loyalty, the industry must adapt to remain relevant. The growth of the secondary market and the rise of Chinese-made movements are just two examples of the changes that are driving this shift. As the industry looks to the future, it is clear that innovation, bold new ideas, and a willingness to disrupt traditional models will be essential in attracting and retaining new customers.