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In a bit of good news: the watch collecting hobby may not be so dead after all…

  1. M'Bob Mar 27, 2022

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    I had parents of two, 25 year-olds independently ask me last week if I knew where to source a new Submariner for each of their boys. Apparently, both are extremely hungry to get their hands on one.

    Now, putting the whole Rolex Submariner issue aside for the moment, and the associated status, bragging rights, dick-swinging, etc.: this is still a mechanical timepiece, and these young guys want it, and they might enjoy the diversion from their cookie-cutter technology enough to want more, or different brands, or venture into vintage. And, let’s also not forget that these youngsters are way more connected than we ever were, so this is likely to be a bigger wave coming than we thought.

    I don’t know if Omega thinks the new Moonswatch was the answer to bringing new, younger collectors into the fold, but if so, it could have been unnecessary, and Rolex will likely never do it. And thus, Omega will continue to be chasing them, and now their brand perception in comparison may get even more divergent.
     
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  2. TheGreekPhysique Mar 27, 2022

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    Bob my man maybe I am dense but I am failing to see the connection you are trying to make. What does 2 25 year old guys wanting a Rolex have to do with the moonswatch release?


    The brand perception is divergent as Rolex aim has been to claim status thus releasing an easily accessible model for the masses would be contradictory. Such aim often attracts clientele with certain personality traits and characteristics; however, people are different so consumer products reflect that. Omega doesn’t need to be Uber unobtainable for a group of elitists. We have Rolex for that.

    In my limited experience the general public views the modern luxury watch market as people who are snobby and unapproachable. It’s time we shatter those perceptions.
     
  3. M'Bob Mar 27, 2022

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    Although we can’t know for sure, because I haven’t heard for certain from anyone who can validly represent Omega’s motivation for the release, one of the proposed explanations is to bring a newer, younger audience into the fold. I can’t convincingly argue that this is a bad idea.

    My point was, there may be a renewed interest in mechanical timepieces by this same demographic, so based on the Rolex example, culling this group of new buyers may have happened anyway, without the introduction of the Moonswatch.
     
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  4. Archer Omega Qualified Watchmaker Mar 27, 2022

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    I think you were good right up to this point...then it went sideways...

    Omega isn't Rolex. Never will be, and quite honestly Omega isn't trying to be Rolex. Rolex makes very few models, even fewer movements, and is very "static" to be kind. Omega has always been a company that produces many models, using many different movements, and "makes something for everyone" in a way that Rolex just hasn't ever done.
     
  5. cvalue13 Mar 27, 2022

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    Cross-posting a few points from another thread that seem relevant:


    • Bain & Company predicts that Millennials and Gen Z will account for nearly half of the total luxury goods sales by 2025 (for the past few years, Millennials and Gen Z have accounted for 40% of all luxury spending and generated ~100% of the global luxury growth.)

    • also from Bain: “Social responsibility remains top of mind for luxury customers and encompasses more than just environmental impact: Eighty percent of luxury customers say they prefer brands that are socially responsible, particularly among millennials.”

    • Morgan Stanley: In 2021, only two brands in the 50 biggest managed to grow sales last year – Tudor and Dior. “Tudor is reaping the benefits of a coherent strategy in product and branding, while Dior watch division is enjoying the brand’s momentum driven by streetwear and collaborations with artists like Daniel Arsham.”

    • SJX/Morgan Stanley RE 2021: “Another noteworthy development is Cartier dethroning Omega [despite Omega’s sales increasing 30%]. The Parisian jeweller owned by Richemont now takes second place after Rolex with CHF2.39 million in watch sales, an increase of 40% over 2020. This reflects the dynamism of a brand that has been able to connect with a younger clientele in almost all markets.”
     
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  6. STANDY schizophrenic pizza orderer and watch collector Mar 27, 2022

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    Rolex has pushed the young ones away by not having stock in stores and only at inflated prices on re-sellers.
    That pushed away they have to ask you :whistling: who probably can’t get them two at retail even if you tried.

    I tell you now, once you mention to mum and dad that they will have to pay double for a Rolex and see what they say…

    The problem most don’t realise is the amount of over priced Rolex watches is growing on every platform. If they were falling that would mean heaps of people are paying these high prices…..
     
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  7. Fish70 Mar 27, 2022

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    I wish my Dad wanted to spend $24,000 on toys for his kids!
     
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  8. M'Bob Mar 27, 2022

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    I’m not disagreeing with you, I think your assessment is accurate. That notwithstanding, many do feel these two brands are at least indirect competitors, as noted by the plethora of “Omega vs. Rolex posts we’ve all seen over the years, and even amongst non-enthusiasts, who perceive them as fighting for roughly a similar market share.
     
  9. Archer Omega Qualified Watchmaker Mar 27, 2022

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    Fighting for market share is very different than trying to emulate each other. There's more than one way to win market share...
     
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  10. cvalue13 Mar 27, 2022

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    Sounds from the outside like y’all are in violent agreement

    obviously not knowing what’s in the minds of Omega, I rather like my fantasy where Omega finally said “we’re the alternative to Rolex - let’s act accordingly”

    Meanwhile it seems increasingly clear that public Swiss watch companies aren’t playing and can’t play the same game as the privates
     
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  11. marcn Enough space to say witty Mar 27, 2022

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    FIFY
     
  12. Scooterino36 Mar 27, 2022

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    Rolex vs. Omega used to make sense from a consumer perspective, comparing alternatives in similar price points.

    It's been so long now that they've been in different price points that it just shocks me how tethered they are in people's brains still.
     
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  13. Archer Omega Qualified Watchmaker Mar 27, 2022

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    Omega...not being Rolex since 1848...
     
  14. Rman Mar 27, 2022

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    I see people with the “Rolex is the only brand” attitude and that “Omega is copying them” with releases such as the multi-colored AT and I just don’t get it.

    First, if you think Rolex makes the best watches you don’t know much about watches, and that attitude reflects poorly upon you. If you wear a watch only to think you’re superior or to size someone up maybe it’s time to do some self-reflection.

    And secondly, when Omega sees the public wants a colorful dial, they give their customers what they want(unlike Rolex).

    They also release so many diverse pieces like we’ve seen with the new heritage SectorDial, the MoonSwatch and SpeedyTuesday. They just seem to be having more fun. Although I’m not the customer yet for a modern Omega (something in Canopus would be nice) they’re just a different company and shouldn’t be compared to Rolex.
     
  15. cvalue13 Mar 27, 2022

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    Rolex … Patek’s Tissot, since 1905?

    As you know, I’m someone who rather likes certain of Rolex’s modern watches (at MSRP), but like you find it silly that people treat them as direct competitors from a corporate perspective.
     
  16. alam Mar 27, 2022

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    I wonder how many 25 y/o these days know what a mechanical watch is ..

    ::popcorn::
     
  17. Rochete Mar 27, 2022

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    Few if any.
     
  18. ChrisK25 Mar 27, 2022

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    Well, coming from a 27 year old: i do have a few friends an colleagues wearing mechanical watches. Ranging from Vostok and Roamer to Heuer and Rolex. Although i have to say the guys with Rolexes are more interested in the logo than the time that it displays ;)
     
  19. Togri v. 2.0 Wow! Custom title... cool Mar 27, 2022

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    I think it depends on where you are. I live in Copenhagen where people are in general quite well-off and I see a lot of young people here with mechanical watches (and expensive sneakers). Watches has become some sort of almost mainstream hobby/way to spent your money. My nephew is 21 and has become interested in watches in the last couple of years; bought a Seiko SKX two years ago and just bought a Longines moonphase a couple of months ago. Whenever I visit the local AD I also see several young people.
     
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  20. Dsloan Mar 27, 2022

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    I work with a lot of young people age 20-25. Some of them are into watches a bit, but most wear a g shock or Casio. They do, however, talk about wanting a nice watch as a status symbol one day. Top of their list is Rolex, followed by Cartier. They do a lot of freelance work making music videos, and I think those are the brands they see people flexing the most.

    Problem is, these guys still have champagne taste on a beer budget. They roll my eyes at me when I'm wearing a speedy but saying, "wait, are you taking about a Rolex when you don't have a 6+ month emergency fund yet?"
     
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