“Every generation brings its own trend, its own taste, its own way of living. The younger generation is more disruptive.” – Jean-Claude Biver, CEO of luxury watchmaker Tag Heuer.
If you are reading this, chances are, you are a millennial. Unsure? If you’re born between the early 80s to early 2000s, have a smartphone nearby and is always connected to the internet, doubt no more. You, as part of the rising demographic of millennials is no doubt going to be the largest spending generation there will be.
With most millennials receiving peak income at their disposal, they’ll want nothing less than the finer things in life. They’ll have fine dining, expensive wines, designer clothing and luxury watches. And when it comes to watches, we have listed below some points to remember when picking the right luxury watch for you.
Luxury brands don’t happen overnight. You might hear a good sounding brand with a respectable logo but they can’t deliver what luxury brands can – quality timekeeping and subtle display of wealth. Look for a brand that is highly respected and also communicates with people who appreciates fine details and luxury like you do. These are also the kinds of brands that creates watches that gives you lifetime satisfaction. Brands that are worthy of getting passed on as an heirloom. You might also consider prestigious brands that command impressive prices if it hits the resale market.
Millennials are smart and passionate. Most of them are wise when it comes to spending. They want to know where their money goes and they want it to go to something they are passionate about. They have this need to contribute to what they feel is important to the world.
We can see a trend for luxury brands partnering during sports and music events. Now this will definitely get the attention of sports and music enthusiasts. What better way to support their passion than to support the brands that keep it alive. Surely, we’ll see a trend for more brands advocating more passions close to millennials’ hearts.
Perhaps another thing that clearly sets the millennials apart from other generations is that it’s an experience-oriented generation. They might think twice on spending a fortune for a luxury watch but would gladly spend the same amount for a tropical island trip. Now luxury brands are trying to change this mindset by offering experience only their brand can deliver. Perhaps as part of their advocacy, we start seeing commercials and ads for these brands that try to invoke emotions, or touch our inner sentiment self. These are often timely reminder brushing with the relationships we currently have, or long to have. At the end of it, these brands will try to remind you of that same experience and feeling with the products they offer. These millennials will not mind the price tag as long as the product comes with a deep level of emotional connection.
Up to date and connected
Millennials continue to disrupt industries, and they’re doing it fast. Luxury watchmakers may be known for the detailed precision they incorporate for every timepiece, but millennials want more than just that. Luxury watch brands don’t necessarily make a fortune by keeping up with the times, but they recognize this generation’s preference. They see the need to be always connected for this generation. They thrive to be relevant by incorporating their brand of luxury to their own lines of smartwatches. Millennials will appreciate how these brands keep in mind the millennials’ on-the-go and always connected nature but never falling short on keeping the luxury feel on the watches that they wear.
Even though luxury and millennials are two words that do not seem to go together, millennials continue to surprise. And for fine jewelry like luxury watches, it’s the person wearing that defines it, not the other way around.