Anders & Co AC2 Volcán
The luxury watch industry faces significant challenges as it adapts to a new generation of consumers. Key bottlenecks identified include the need for better brand building, an overly exclusive market, and intimidating retail experiences. Modern consumers, especially Millennials and Gen Z, are drawn to craftsmanship and authenticity, seeking refuge from the disposable nature of digital culture. However, financial constraints are evident, with many potential buyers indicating they cannot afford watches priced above $2,000, leading to a growing preference for the secondary market. To engage this younger demographic effectively, luxury brands must rethink their strategies, incorporating more accessible price points without compromising quality. While some brands have attempted to introduce sustainability into their offerings, experts suggest that this is not a primary motivator for luxury watch purchases. The industry must continue to innovate in branding and customer relations, focusing on heritage and craftsmanship, to harness the enthusiasm of a new generation of watch enthusiasts.
