Watches are a timeless symbol of class and sophistication. Even in this age of smartphones, wristwatches offer a more convenient way to check the time. They also act as tasteful statement pieces and can bring together an entire outfit. In this article, we will discuss the versatility and enduring nature of the wristwatch industry, and why men’s and women’s watches are a good investment opportunity for entrepreneurs.
Reasons to Invest in Wristwatches
While some people may argue that wristwatches are a symbol of a bygone era, wristwatches remain a symbol of class, professionalism, and taste – depending on the watch and the setting in which they wear it. Read on to find out the different types and uses of wristwatches, and how there are many niches in the watch industry that entrepreneurs can invest in.
1Watches are a Booming Industry
With wristwatches becoming more accessible and with the increasing variety of designs on the market, the wristwatch industry is experiencing a boom. In 2018, the international luxury watch market had a reported value of roughly 6.93 billion. It is even estimated to increase to 9.3 billion USD by 2025.
Apart from the luxury watch business, there are numerous new brands coming up every year that offer watches of distinct qualities at different price ranges, signifying the fact that many people from all walks of life are taking part in the wristwatch industry.
Keeping this trend in mind, a lot of wristwatch companies are appealing to the working class and student market. That is by creating low-cost models and offering incentives such as discounts on their items.
2Impact of Technology on Modern Watches
Modern technology has had a big impact on the watch industry by incorporating additional features and turning a wristwatch into more than just a tool to tell the time.
These range from simple digital watches to highly advanced models which include a variety of other features. The most famous example of this would be the Apple Watch, a smartwatch released in 2015. It is designed to act as a fitness tracker and can also be paired to the wearer’s iPhone. The success of the Apple Watch has incentivized other watch manufacturers to create similar models with more useful and unique features.
3Symbol of Quality Craftsmanship
Both watch enthusiasts and even laymen to some extent can appreciate the quality and finesse of a luxury wristwatch. There are several established brands that have been crafting high-quality watches for decades.
Other than the longevity and quality offered by a quality wristwatch, watches are also a collector’s item. Some watch enthusiasts take great pride in their collections of novel models and quality wristwatches from established manufacturers.
4Signifiers of Professionalism
Watches are an essential feature of many workplaces. Even with the presence of smartphones, wristwatches provide a discreet way to check the time. Watches can also add covey an air of professionalism to the wearer. A wristwatch is an infinitely better way of checking the time than your smartphone, especially in professional settings such as meetings, where looking at your smartphone can seem like you’re not paying attention.
A wristwatch can also signify that you are serious about being punctual and that you value discipline, qualities that will allow you to make a good impression on your colleagues and superiors, and therefore help you advance in your professional life.
5Watches as Accessories
With the explosive growth of the fashion industry, brands have created a variety of strikingly different wristwatches, which act more than accessories and statement pieces than just a functional wristwatch.
Wristwatches that are meant to be used as accessories are especially popular among women’s fashion. These differ in style, with many different faces, embellishments, strap colors, and materials.
These kinds of wristwatches are also available at different levels of quality and price, and cheaper and discounted models are most prevalent in this category of watches. To give an extra advantage to customers, there are some discounts and offer such as stylogear.com that helps your customers to become your potential consumers
6Watches as Signals of Class
Quality watches are an established symbol of wealth and class, harkening back to the days when watches were an exclusive luxury item. Even though watches are a ubiquitous item these days, a quality wristwatch will still stand out because of its fine craftsmanship and the high quality of the materials used to construct it.
A quality wristwatch can, therefore, be a worthy investment, depending on the wearer’s social status and what they want to convey through wearing it.
An oft-forgotten aspect of watches is how certain professions require specialized wristwatches. Advances in watch mechanics and technology have led to the production of a wide variety of watches for different purposes and for different professions.
For example, such advances now specifically make diving watches for divers and swimmers to be waterproof and to also withstand the high pressures faced by divers underwater.
Triathletes also require watches that are designed to both withstand and track the different aspects of running, swimming, and cycling.
Other professions that require watches include medical professionals, both for noting the time for medical records and for recording a patient’s heart rate, blood pressure, and respiratory rate, etc. Watches for medical professionals often include another smaller face which can act as a stopwatch. They also require a watch that is easy to clean and disinfect, for obvious reasons.
Wristwatches have strengthened over time to serve a variety of different purposes and to communicate different styles. As the watch industry grows, both in physical outlets and in the e-commerce industry, it provides an opportunity for investors to take part in the market and grow their business.