Is the Apple Smart Watch a Threat to the Luxury Watch Market?


Luxury Watch.jpgWith the rise in portable technology over the last few years – 7 in 10 people in the UK now owning a Smartphone – it was inevitable that wearable technology was the next step. In September 2014 Apple released details of the new Apple Watch, with its release set for spring 2015.

Although smart watches have already been released by both Samsung and Sony, the Apple Watch in particular has attempted to capture the tech, fashion and sports industries all at once. Their aim is to target people who may not currently wear a watch, suggesting that the Apple Watch should be their new choice of timepiece, along with all the added digital benefits it brings.

But does this pose a threat to the luxury watch market?

There are certainly some qualities that the new smart watch shares resemblances with luxury timepieces. Apple currently offers three distinctive “collections” depending on their style, whether they want a classic look, sporty watch or something that appears much more luxurious. The latter option, called Watch Edition, has a case that is made of 18-carat gold which has been developed to be twice as hard as regular gold, and also offers a choice of 6 luxurious bands. There is also the choice to customise the watch face to ensure it perfectly reflects your individual style.

These features on the Apple Watch could definitely appeal to a luxury watch lover, as well as potentially convince them to buy one when they are released later this year. However, this is providing they already own an iPhone, as the Apple Watch is obsolete and will cease to work without one. There are also some considerable differences between the Apple Watch and a traditional luxury watch, which continues to separate the two and put them in two completely different markets. 

Firstly, an Apple Watch would never be an investment. Unlike where if you were to buy a Rolex, you would have invested in something that will last you a lifetime and will never lose its value. It can continue to be passed down through generations, making it a family heirloom. Or, if you are wise with your purchasing, you could have a watch that is worth a lot of money in the future.

This is definitely the major flaw with the Apple Watch- given the nature of previous Apple products; the ‘Watch’ will become obsolete as soon as an upgraded version is released to the public. It is fair to say that Apple’s success lies in its customers buying their products so regularly, therefore they do not build products that would last decades as they will not be relevant at this time.

Another fine quality of luxury watches is their engineering and functionality. For example its intricate details of an analogue timepiece are what make it so special, especially when a watch has been customised to its owners taste. Saying this, there are many unique and quirky advantages to the Apple Watch’s functionality, for example it has the ability to record your heartbeat and send it as a message to your loved ones. The Apple Watch simply does not have the same qualities as a Swiss made, non-digital mechanical timepiece.

Therefore, here at Cuttings we don’t think that the Apple Watch poses much threat to the luxury watch market, because it is an entirely different product overall. While the Apple Watch will attract gadget lovers and curious watch collectors alike (including us!), we believe that the classic watch is certainly safe. 

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