Photo: apple.com.
Interest in luxury timepieces has grown amongst consumers, and the release of the Apple Watch will not likely affect this interest. According to the World Watch Report, interest in timepieces has grown ten percent between 2013 and 2014, with affluent Asians accounting for 68 percent of global growth of interest.
However, the release of the Apple Watch will likely contribute to the growing demand for luxury wrist watches. Along with the demand of luxury watches on the rise, consumers are also searching for smart watches by their favorite luxury brand.
The World Wide Watch Report’s findings show that the Apple Watch interest remains in line with other competing technology brands, such as Pebble and the Samsung Gear. When released, analysts are predicting that Apple could sell more than 30 million watches, a number that will well surpass any other timepiece companies in the world.
Not to be outdone by Apple, more luxury brands are also incorporating smart watch features into their products. They are embracing innovative and creative ways to keep up in the marketplace, while still producing quality items. For example, Montblanc’s Estrap is a device that can be added to any traditional timepiece. The device, connected via Bluetooth Low Energy to select Android and iOS devices, is highly functional and can serve several purposes such as an activity tracker, smart notifications, remote controls and Find Me functions.
With prices going up to the thousands for an Apple Watch, it may drive consumers towards buying wearables produced by a trusted luxury brand such as Tag Heuer, Rolex and Omega that fall into similar price categories. But it is expected that affluent customers set on buying an Apple watch will not be deterred by its price tag.
by Jackie Hart
