DELOITTE Insights: The New Rules of Luxury Watches

Why It Matters

Understanding these shifts enables watch brands to capture emerging consumer segments, safeguard revenue streams, and remain competitive in a market where trust, digital engagement, and inclusivity now dictate success.

Key Takeaways

• Pre‑owned market now central, driven by trust platforms.
• Gen Z values liquidity, buying online, but still seeks in‑store experience.
• Female consumers are under‑served; brands must design gender‑inclusive offerings.
• ESG, security, and geopolitics now influence watch pricing and demand.
• Brick‑and‑mortar remains vital, yet digital channels dominate purchase decisions.

Summary

The Deloitte video, hosted in Zurich, outlines the "new rules" reshaping the luxury watch sector. Karine Szegedi, Deloitte’s Swiss watch‑industry lead, explains that the industry is moving beyond traditional Swiss‑made narratives to address evolving consumer priorities, from sustainability and security concerns to generational buying habits. Key findings highlight a booming pre‑owned market where trust—provided by certification platforms and brand‑backed warranties—underpins liquidity. Gen Z buyers treat watches as tradable assets, preferring online purchases but still valuing the tactile experience of brick‑and‑mortar stores. Meanwhile, female consumers remain a largely untapped segment, prompting calls for gender‑inclusive designs rather than merely feminising existing male models. ESG considerations, geopolitical tensions, and heightened security risks now directly affect pricing, supply chains, and investment appeal. Szegedi emphasizes that “trust is the overarching theme in pre‑owned watches,” noting Rolex’s own certification program as a benchmark. She also observes that younger buyers are “informed, price‑sensitive, and driven by the sharing economy,” swapping pieces to stay current. Brands are urged to create dedicated female‑first collections and to integrate opinion leaders—authentic experts rather than paid influencers—into their communication strategies. The implications are clear: luxury watchmakers must blend physical retail’s experiential strengths with robust digital ecosystems, invest in transparent resale platforms, and broaden product lines to capture female and Gen Z demand. Failure to adapt could cede market share to agile competitors and diminish the sector’s long‑term growth trajectory.

Original Description

WatchAdvisor launches a new publication series with a clear mission: To provide a broader, analytical perspective on the watchmaking industry — not only through conversations with brand leaders, but also with opinion leaders and market analysts shaping the sector.

For this first edition, we had the privilege of speaking with Karine Szegedi, who leads Consumer Products & Luxury Industry at Deloitte Switzerland since over 30 years. She oversees the renowned “Deloitte Swiss Watch Industry Study” and combines analytical expertise with personal passion as a watch collector.

In this conversation, we explore:

– The current state of the Swiss watch industry in a world marked driven by geopolitical tensions and economic uncertainty

– The evolution of the pre-owned watch market and the importance of trust, platforms and brand-certified programs

– Generational shifts: How Gen Z approaches luxury differently

– The growing role of female consumers in watchmaking

– Investment dynamics versus emotional purchasing

– Sustainability, circularity and long-term brand responsibility

– Innovation in design, materials and independent watchmaking

– The resilience of Swiss watchmaking despite global challenges

Is the Swiss watch industry facing structural change — or demonstrating once again its remarkable resilience?

We invite you to share your perspective in the comments.

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DOWNLOAD THE DELOITTE SWISS WATCH INDUSTRY STUDY:

https://www.watchadvisor.com/2026/02/interview-deloitte-karine-szegedi/

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