Buzz
Have smartphones played a role in the fall of wristwatches? You may be surprised by the response.
Justin Sullivan/Getty ImagesIn a time when 91 percent of Americans are constantly attached to their cell phones, and we can almost read by the glow of LED clocks on our kitchen gadgets and home electronics, wearing a wristwatch might feel unnecessary [source: Foresman]. No wonder many blogs and news outlets have proclaimed the wristwatch as obsolete. However, the situation is more nuanced.
When American watch sales fell by 4.9 percent between 2001 and 2005, analysts jumped to conclusions, thinking it marked the start of the wristwatch's demise. But watch sales, like other luxury goods, go in cycles. Despite the most severe economic downturn since the Great Depression, the industry rebounded strongly in 2010 and 2011 [sources: Gonzalez; Agence France-Presse; Shuster].
Does this mean the same number of people still wear watches? Not necessarily. As of July 2012, high-end timepieces, often featured in rap lyrics and advertised in the Financial Times, far outpace $100-or-less models. Brands aimed at younger adults have felt the pressure the most, although $1,000-plus watches are still seen on the wrists of image-conscious young professionals [sources: FSWI; Agence France-Presse; Shuster].
Luxury watchmakers will tell you that watches are more about image, fashion, and status than telling time. Cartier doesn’t sell time; it sells a lifestyle. Consider the continued popularity of pricey mechanical watches, which are less accurate than quartz models, or those with nonfunctional features like diamonds or moving liquids. The economic boom in China, where mechanical watches have long symbolized prosperity, has driven 40-60 percent of the demand for European watches [sources: Gonzalez; Agence France-Presse; Shuster].
Always in tune with the latest trends, watchmakers are now producing “killer app” timepieces packed with features for specific activities, like climbing, diving, fishing, golfing, motor racing, and sailing. They’ve also embraced the “if you can't beat 'em, join 'em” mindset, integrating their watches into our increasingly connected lives. Now, watches can notify you when your muted cell phone rings, show the caller’s name, and tell you if a message was left. Some models even play MP3s and videos or access files from your computer [source: Shuster].
Where will it all end up? Only time will tell. For now, it’s clear that the wristwatch industry can endure and continue to thrive.
