Watches of Switzerland CEO, Brian Duffy, highlights the significant shift in consumer demographics towards female and younger consumers in the luxury watch market, particularly for brands such as Rolex, I-W-C and Omega.
The luxury watch market is undergoing a major transformation as women are emerging as major consumers. watches of Switzerland confirms that while men still dominate around 65% of the market, there has been a sharp rise in female users, especially those who pull their big timepieces.
Brands such as Rolex have adapted to this shift by offering models in ways that are gendered and female that typically gravitate towards menswear
This trend not only highlights the growing role of women in the global economy but also reflects broader changes in consumption patterns. As women show affordability in traditionally male-dominated industries, luxury watch brands are forced to innovate and cater to different tastes.
Cryptocurrencies play an important role in the purchasing decisions of young people including men. The luxury watch market is witnessing an increase in demand, especially in the consumer segment.
The increasing number of female and young consumers, especially in the luxury watch market, is providing additional time, innovation and sustainability in global consumption trends.