It seems that despite the rise of smartwatches and the like, traditional watches are still the way to go when it comes to millennials. Luxury watch brands have seen the trend and know that as millennials hit their prime earning years they will have more buying power. Watchmakers have started making cheaper versions of their high end timepieces by changing the material it is made from to lowers prices but maintain the quality they have established. Millennials will make up about 40% of sales in the luxury goods market by 2025 so brands are responding to this by catering to this demographic.
Launching more eco-friendly products and being for socially responsible are ways that brands have started to target the age group. People want to know that the watch they are buying isn’t harming “the environment or exploiting vulnerable populations.” Big brands like Baume & Mercier demonstrated this by planning to manufacture products regionally to reduce carbon emissions and the diving watch maker Blancpain is partnering with Ocean Commitment to bring attention to ocean conservation. All these strategies and more will allow Swiss watchmakers to make a comeback from the overbearing prevalence of smartwatches and digital timepieces.