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The lately revealed Samsung Universe Gear – Sean Gallup/Getty Images
There is lots of buzz recently the next large innovation within the tech space can come by means of wearable technology.
Particularly: wise watches. Samsung has revealed their first attempt, the Universe Gear, earlier this year beating out major rivals Microsoft and Apple. The lengthy looked forward to product in the latter is perhaps probably the most hotly anticipated releases of the season (whether it really happens), with lots of thinking it'll transform the standard watch.
This Is Actually The Finish
As you may expect it has brought to a lot of commentators declaring the wise watch is determined to end up being the new luxury watch killer, the outcome on sales not different towards the creation of quarta movement watches within the seventies which basically decimated the. It's most likely worth observing here that lots of the disaster-sayers also recommended the original wise phone will be the dying of contemporary day luxury watch, a conjecture that has not really panned out since luxury watch industry continues to be going gang-busters the final couple of years fueled by strong development in nations like China and South Usa (individuals people are also purchasing lots of mobile phones too remember).
I for just one however remain unconvinced the 'smart-watch' movement may have any real effect on luxury watch sales, and definitely nowhere near the extent from the quarta movement catastrophe. Listed here are my three good reasons why:
HD3 Slyde – the initial wise watch?
1. Cost
Without attempting to overstate the apparent, I believe we are able to securely state that wise watches (except for HD3's Slyde pictured above) won't be searching to contend with luxury watches on cost. Let us face the facts they are different segments from the market. It's like saying Toyota is competing directly with Mercedes, it is simply not the situation. Somebody that could buy a top of the line Mercedes might also decide to purchase a Toyota but you can be certain they will not be dissuaded from purchasing a Mercedes simply because they previously possess a Toyota.
Similarly a Patek Philippe owner may consider buying a wise watch out for the novelty value or simply because they accept is as true will boost their wise phone experience but they are they seriously not thinking about buying another luxury watch due to it? Highly doubtful. The choice to purchase a luxury watch generally isn't driven mainly by the necessity to satisfy an operating requirement. There is no quarrelling that the Toyota works exactly the same fundamental functions of the Mercedes, but when you are investing $100k on the vehicle you would like not only fundamental functionality.
The end result is this if you're able to afford a $5k watch, than odds are you really can afford a $200 wise watch too. These customers aren't evaluating one from the other purely based on cost.
A vintage IWC Portuguese will do the job for virtually any special occasion.
2. Style
It's impossible to underestimate the significance of style and individuality if this involves wrist put on. The standard watch is among the couple of add-ons a guy has at his disposal if this involves determining their own style, and thus for that luxury watch consumer the possibilities of strapping something generic for their wrist is (or at best ought to be) abhorrent. That's not saying the wise watch should not possess a place inside a dapper gentleman's wardrobe, it certainly should, but getting a location is totally different from changing.
A Polar Hrm watch meanwhile, although great for running, doesn't offer that very same degree of flexibility.
Consider it, you may not wish to be putting on a plastic-searching wise watch to that particular black tie dinner, or even worse with that important first date? You'd be the current day same as that stereotypical sports guy everybody knows who wears his heart-rate monitor watch everywhere he goes, even if he isn't working out. I am not to imply that wise watches will not be stylish however they certainly will not have the ability to offer that certain watch out for all occasions just like a carefully selected Jaeger-LeCoultre or IWC can.
3. Status
This last point is probably the most significant. Returning to my original illustration of the Mercedes and also the Toyota both automobiles do essentially exactly the same job but you will find ample purchasers for (relatively speaking), regardless of the astronomical cost difference backward and forward. It is because luxury purchase choices are naturally complex ones and encompass not only practical functionality and good value. Among the key motorists may be the perceived status of the trademark by extension the dog owner.
Couple of watches can produce a statement that can compare with Patek Philippe.
An extravagance watch consumer does not purchase a watch only to solve an issue or fill a necessity, i.e. to keep an eye on time they are doing additionally, it to transmit a note for their peers. Whether it's a not too subtle statement regarding their perceived position within the pecking order, a manifestation of the preferences, or perhaps need to be observed in a particular light, you will find very couple of in our midst who purchase only for ourselves. You will find many elaborate causes of this, most of them mental I am sure but because the frequently cited saying goes (within this industry a minimum of) "you cannot park your Ferrari within the boardroom."
This is a pretty effective statement and never one which I believe any wise watch can contend with, even when does allow me to read my email if you don't take my phone from my pocket.
What exactly do you consider? Will I create a good situation or shall we be held completely off my rocker and also the luxury watch industry as you may know it's going to implode? Please share your ideas within the comments section below, I'd like to acquire some lively discussion happening this subject.