Value comes first. For the eleventh edition of its Swiss Watch Industry Study, published in October 2025 under the title “Time under pressure”, Deloitte surveyed 6,500 consumers in 13 markets and 111 industry executives. Asked which factors matter most when they decide to buy a watch, buyers in nine of the thirteen markets named the price-to-value ratio first (chart 14, page 22). Here are five findings from the study, each with its page, for anyone who sells, collects or follows fine watches.
1. The price-to-value ratio leads in nine of 13 markets
France, Germany, Italy, Japan, Singapore, Switzerland, the United Arab Emirates, the United Kingdom and the United States all put the price-to-value ratio first. Brand image leads in China, Hong Kong and India, and design leads in Mexico, where Deloitte describes a lively culture of special editions (page 48). Design ranks among the three most important factors in 11 of the 13 markets.
2. Buyers still choose the store
More than 60% of respondents say they are most likely to buy a watch in a brick-and-mortar store: 38% prefer a multi-brand retailer and 23% a single-brand boutique (page 24). The reasons are tactile and human: 51% want to try the watch on, and 44% value the personal relationship and expert advice they find in store (page 26). The atmosphere of the store matters most to younger buyers, cited by 35% of Generation Z and Alpha respondents and 37% of millennials.
3. Executives see the store staying ahead
Industry leaders read the same signal. 74% of executives expect store sales to stay ahead of online sales over the next five years, up from 62% in 2023. More than half (53%) name authorised multi-brand dealers as the most important sales channel for the next 12 months, followed by single-brand boutiques (44%) and brand events (40%) (pages 24 and 25).
4. New products remain the first priority
Introducing new products is the first priority for 82% of brand executives for the year ahead, ahead of organic growth (61%) and expansion into new markets (52%) (pages 15 and 16). With trend cycles accelerating, Deloitte notes, fresh releases are what keep a maison visible.
5. Pre-owned opens the door to new buyers
31% of consumers say they are likely to buy a pre-owned watch in the next 12 months, and 40% of millennials and younger buyers (pages 41 and 42). Price is the first reason given (53%), followed by access to discontinued models (36%) (page 43). 49% of executives see the pre-owned market as a gateway to new clients (pages 44 and 45).
The full study is available from Deloitte: Deloitte Swiss Watch Industry Study 2025, “Time under pressure” (PDF). These figures are part of the WATCHESPEDIA Watch Market Data series.
