With so much of watchmaking revolving around heritage and legacy, some may assume that timepieces are not as affected by trends – but this is far from the truth. Though some classic pieces from global brands such as Rolex and Patek Phillipe are highly sought after year after year, watchmakers are constantly faced with multiple challenges in fulfilling the ever-changing demands of horology fanatics.
As the tech-savvy and fashion-forward generation focuses more on convenience, style and functionality, many watch brands have had to adapt to stay relevant in the industry. That being said, traditional watches have managed to maintain their appeal with the allure of mechanical movements, luxurious materials and emotional connection.
With a projected value of US$79.81 billion and a CAGR of 3.52%, businesses in the watch and clock industry must keep a close eye on emerging trends to stay competitive. Watch on our list of key timepiece trends shaping the industry:
Say hello to bold, vibrant colours and goodbye to monochrome. In 2024, the year is all about embracing shades that complement the personality and flair of the wearer. From lapis blue to brilliant pink, adding a lively hue makes a timepiece look lavish and perfect for sparking conversations.
According to watch connoisseur Carson Chan, the move towards colourful dials is not only a trend but is also a strategic decision by businesses. Adjusting the shade of watches is a cost-effective way to create a renewed look without extensive investments in watch research and development.
2. Smartwatches Get Smarter
For tech-savvy consumers, the ‘smart’ capabilities of watches are expected to get even smarter. While watches providing health and fitness functionalities have become a basis for smartwatches, groundbreaking advancements in this region are expected in the upcoming year. Sensors in smartwatches are expected to improve, with enhanced readings that can indicate blood oxygen levels, blood pressure levels, stress levels, mensuration cycle tracking and improved fitness tracking.
Additionally, we expect to see most smartwatch makers integrate AI and machine learning research into their smartwatches. These devices are expected to be able to have control over smart home devices and have stronger NFC technology – from unlocking cars to interaction with IoT devices.
3. Timepieces Go Thinner
In April 2024, Piaget created the world’s thinnest tourbillion, with an incredible thinness of 2mm. Similarly, in the same month, Buglari broke the record for the world’s thinnest watch, sized at a whopping 1.70mm thickness. These two watches are just some of the few ultra-thin watches that have been launched over the months.
The delicate balance between minimalism and functionality in ultra-thin watches demonstrates the innovation of material science in creating new alloys that allow for design and functionality. Ultra-thin watches not only look effortlessly elegant and sleek, but they also showcase the incredible craftsmanship and capabilities of watchmakers.
4. Unisex Watches
Gone are the days when large watches were limited to men and small watches were limited to women. According to The New York Times, timepiece experts see male consumers requesting 28mm watches much more than in previous years. On the other hand, recent research shows that 61.69% of women purchased watches traditionally designed for men in 2023 – with nearly a third of these women buying watches 40mm or larger.
The shift in consumer habits between both genders has led to the rise of watchmakers creating designs that are more ‘gender neutral’, showcasing easy-to-style designs that will seamlessly allow anyone to wear them.
5. Haute Horlogerie Gets in Demand
The highest end of the luxury market maintains strong though inflation is staying high with a weak global economy. Benjamin Comar, CEO of Piaget, mentioned that there has been an increasingly higher demand for high-ticket watches in recent years. According to Vogue Business, ‘Haute Horlogerie’ has become hot over recent months, with ultra-high value timepieces selling out moments after being put on sale.
Luxury timepieces are prevalent in traditional and smartwatches, featuring meticulous craftsmanship, precious detailing, brilliant designs and extravagant materials – such as precious gemstones and diamonds. These luxurious watches are usually created with a limited supply, creating hype from affluent consumers.
All About Time: Searching For the Perfect Timepiece
Hong Kong is one of the world’s leading exporters of watches and clocks. Benefiting from low tariffs and a wide range of watchmakers, this metropolis is the ideal place for businesses that are sourcing timepieces.
For horology lovers, HKTDC’s Hong Kong Watch & Clock Fair is back with an exhibition of timepiece wonders. From smartwatches and mechanical watches to women’s watches and contemporary creations, this fair is perfect for businesses looking to expand their connections, update the latest happenings, and source trending timepieces.
The Hong Kong Watch & Clock Fair will be held from 3-7 Sep 2024. Save your spot now and register today by clicking on the banner below:
Can’t wait for the fair? Visit our e-Marketplace to find more watches and clocks today:
[1] https://www.statista.com/outlook/cmo/accessories/watches-jewelry/watches/worldwide
[2] https://www.tatlerasia.com/style/watches/carson-chan-watch-trends-2024
[4] https://www.nytimes.com/2024/04/08/fashion/in-the-watch-world-size-small-increasingly-matters.html
[5] https://www.chrono24.ca/magazine/unisex-watches-the-new-standard-in-timepiece-fashion-p_127753/
[6] https://www.voguebusiness.com/story/fashion/the-five-watch-trends-to-know-in-2024
