Gen Z don’t care about your smartwatches – here’s why
From CityAM The Magazine‘s Autumn edition, Gen Z are the first digital native generation but they’re turning to analogue timepieces over smartwatches
It’s ironic that the generation that grew up with a smartphone in their hand is ditching the smartwatch in favour of an analogue alternative. Last year Watchfinder, the Richemont-owned pre-owned retailer, commissioned a survey into Gen Z – those born between 1997 and 2012 – and their watch buying habits.
According to the survey, 41 per cent had bought a luxury watch in the past year. Other surveys have all come to similar conclusions. Deloitte found that 40 per cent had purchased a timepiece as a part of an investment portfolio, while in a YouGov poll for Chrono24, 20 per cent of people between 18 and 25 said they were “likely or very likely” to buy a luxury watch in the next 12 months.
Gen Z are purchasing second hand, in line with the trend for vintage clothing
Gen Z, predictably, takes its cues from social media, with 71 per cent saying they looked on platforms such as Instagram and Tiktok for inspiration. It can’t be a coincidence that, after Tyler the Creator took to Insta to declare his love of vintage Cartiers and Timothee Chalamet was seen wandering the streets of New York with a slinky Panthere on his delicate wrist, Cartier is now the fourth most searched for brand on Watchfinder.
Rolex still tops the horological pops, with 58 per cent of all Gen-Z’ers saying this is the luxury watch brand they aspire to own, 29 per cent are crushing on Cartier, which, as the report says is “unsurprising when you consider the wave of red-carpet sightings”. #Watchtok is huge, while Instagram has been a vital platform for younger watch influencers, who bring a touch of irreverence to an industry that has in the past taken itself a little seriously at times.
Although a percentage are using watch purchasing for investment purposes, this isn’t the main drive for Gen-Z, with 63 per cent seeing them predominantly as an accessory, while 62 per cent say they choose their timepieces based on looks rather than what’s under the bonnet.
This is supported by trends such as “wrist stacking”, a fad that involves literally stacking your wrist with multiple watches and bracelets. Audemars Piguet’s recent campaign for its 23mm Royal Oak backed the trend, which would have been anathema to the Swiss watch industry a decade ago. The playful message, which goes against the received wisdom that you shouldn’t wear anything next to your timepiece to avoid scratching it, is that your watch isn’t the centrepiece but just one object among many to express your personality.
The pre-owned market is also benefiting from the Gen-Z dollar with 80 per cent saying they had purchased second hand, in keeping with the rise of vintage clothing retailers like Vinted and the move away from fast fashion purchases.
There is also the Black Mirror effect: Gen Z has grown up online and is now becoming aware of how much of their personal data has been harvested. Smartwatches gather information including location, health metrics, and activity patterns, which can be used for targeted advertising or shared with third parties. Some of this access can be restricted but many are now making the decision not to take a chance and go mechanical instead.
With a taste for smaller indy brands or less vaunted watches from established names, Gen Z could be on the precipice of giving the watch industry its biggest shake-up since the 1980s. Terrifying? Slightly. Exciting? Definitely.
Laura is a leading watch and jewellery writer