Here is a thought… who would of guessed that Apple would come to Rolex’s rescue? And, for that matter, the whole fine Swiss watch industry! I think Rolex will be especially grateful. That said, Rolex does have the Asian market that is currently really helping them out though the demographics are not working long term to their (Rolex) advantage if Apple didn’t step in!
What Apple is going to do possibly, maybe, is introduce to people who have a birthday around 1985 what it is like to wear a watch. That is a general date. Of course us older folks know what it is like to wear a watch. We have been do so for years. In many cases still wear one even when we now use our smart phones for checking the time. We like the feel of it, and feel more comfortable having it on.
With the millennials, as a group, they are part of the tech generation. Wearing a watch of any quality and or status is just not their style. Rolex could spend zillions in advertising trying to convince them. The whole Swiss govt. could try as well. Not going to happen till now. Thank you Apple for making a watch cool again.
With the introduction of the Apple Watch, the verdict is still “out” on whether this will result with the Millennials (1st of all) liking, buying and wearing an Apple Watch with an average cost of $425 (?). Then that experience will need to cross over to a “non tech” watch that mainly all it does, is show time. Will the Millennials fall so much in love with wearing watches, that they will start to spend $4000 plus for a “starter Rolex”? That is a big jump in my book. I am thinking – not so much. A few percentage points will cross over, but not in the numbers the Swiss watch industry and Rolex needs.
There is good news for Rolex though… I predict that the millennials will be the only lost watch wearing generation. The kids ages 15 and below, will renew their love affair with watches (Thank you Apple) at a young age and save Rolex, (not that Rolex needs to be saved) for future generations!
Jackson Square Fine Jewelers, Owner