Gen Z Watch Fans Ready to Splurge, Study Finds
By Rob Bates | April 09, 2024
"Prodded by TikTok “watchfluencers,” Gen Z timepiece collectors could spend even more on luxury watches than older generations, according to a new report commissioned by online marketplace Watchfinder.
Findings come from a survey of more than 2,400 people age 18 to 26 years old in the U.S. who wear, have bought, or have shown interest in watches. “Luxury watch” was defined as one with a price tag of at least $1,300.
The report says that Gen Zers plan to spend an average of $10,870.40 on their next luxury watch purchase. That’s more than double what millennials ($5,325.23) and Gen Xers ($5,423.87) expect to spend, and more than quadruple the average purchase by baby boomers ($2,632.28).
Asked about their favorite watch styles, 35% of Gen Z watch fans said fashion-forward and on-trend, while 27% preferred “minimalist,” and 26% wanted models inspired by designs from the 1990s. Meanwhile, 21% liked ’80s-inspired styles, and 20% leaned toward sport watches.
Regarding their favorite brands, 43% of respondents answered Rolex, 25% said Cartier, and 16%, Omega. Filling out the top five were Patek Philippe and Seiko, each cited by 11%.
Unsurprisingly, Gen Z watch purchases are heavily influenced by online content, with 73% of those surveyed saying they are aware of social media “watchfluencers.” Online reviews were the largest source of recommendations (cited by 63%), but 55% of also pointed to “watchfluencers” and social media posts by peers.
The poll found that Gen Z watch aficionados acquired an average of 2.4 new and 1.43 pre-owned watches last year. More than half (53%) ... "
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