Millennials vs. Luxury Watches
It’s no secret that technology has revolutionized every part of our lives, from the significant things to the downright mundane. In some cases, technology has flat-out replaced devices and conventions of old, most notably with the dwindling use of the old landline. Gen X, Millennials, Gen Y, and the generations to follow are increasingly reliant solely on their cellphone, such that the ring of an old-school phone might strike them as off-putting, if not just bizarre.
The mobile phone led the charge of redefining the way we consider, use, and shop for everyday devices, and that has bled into other areas. We now live in a world where your refrigerator can text you when you’re low on milk and you can keep an eye on your kids—or furbabies—via live feeds while you’re at work.
Traditional Over Technology
However, in some areas, tradition maintains a healthy edge on technology. And believe it or not, one of those areas includes the luxury watch. Even more unbelievable? Those so-called industry-killing Millennials are the ones keeping luxury watches alive.
According to a study conducted by Deloitte, Millennials would rather treat themselves to a luxury timepiece such as Tudor, than a smartwatch. More than that, the same study indicated that these Millennials would continue to choose luxury watches over the digital and more technologically driven counterparts every year for the next ten years. Even more surprising is the amount of Millennials who have launched or are attempting to launch their own line of luxury watches.
The takeaway? Apple has nothing on Rolex. This is not to say that Millennials aren’t impacting the luxury watch industry at all—they are. Appeals to “old world” luxury are likely to not resonate as much with the under 40 crowd, whereas simplicity and elegance are major winners. Personalization is another reigning theme in the start-up luxury timepieces we’re seeing from Millennials these days.
This should surprise precisely no one, as Millennials tend to trend heavily toward self-expression, and as a result, the major players, like Rolex and Tag Heuer, are showcasing the customization options they have available so that the wearer’s individuality can be captured in their timepiece.
In fact, you have the option to design your own watches,, and the experts at Maxon Fine Jewelry would be happy to help you along the way. Questions about your next luxury watch? Call or visit Maxon Fine Jewelry.