Gen Z drives growth in second-hand luxury watch market as new sales decline

Generation Z is driving growth in the second-hand luxury watch market as interest in new watches declines. A survey shows 20% of those aged 18-24 are likely to buy a luxury watch in the next year, compared to 11% across all age groups. Younger buyers are increasingly purchasing pre-owned watches, with 80% of Gen Z buying their first luxury watch second-hand. This trend is fueled by financial considerations, a desire for unique styles, and sustainability concerns. The luxury watch industry is adapting to this shift, as Swiss watch exports have fallen. Brands are focusing on engaging younger consumers through modern marketing strategies and collaborations with popular figures to maintain interest and relevance.