Profiles of Men Who Buy/Own Watches
To build demographic and psychographic profiles of men who buy/own watches, excluding smartwatches that will be used in developing target audience profiles for paid media campaigns and other advertising efforts. The demographic and psychographic profiles should include profiles for: Millennials (23-38 years old), Generation X (39-54 years old), and Baby Boomers (55-73 years old). The profiles should also include women who buy men's watches as gifts with specifics on their age range. Demographic details will consist of such factors as ethnicity, education, household income, and number of children. Psychographic details will consist of such factors as values, fun activities, brand affinities, important features they consider in a watch.
- "An increasing number of consumers under 35 years of age are embracing the fine watch segment."
- 13% of 18-34 year olds in the U.S. identified fine and fine Swiss options as their primary watch.
- Millennials will choose to buy watches that have "radically fair prices" and that is cool enough to accessorize with.
- Both millennials and generation x-ers will choose a watch "whose primary purpose is not just timekeeping," but also one that "is consistent with their personal self-image."
- With time baby boomers will not want to project themselves as something they are not and will thus "migrate to simpler dials such as three-handed watches" that have little complications.
- A survey by Deloitte revealed that millennials would prefer a luxury watch over a digital smartwatch.
Summary of Findings
- In the first hour of research we found that information we determined that information watch ownership is available, although it may not be clearly presented by the age brackets requested (such as 23-38 or 55-73 years) but rather by generational bracket (such as millennials or baby boomers). We also provided general insights on watch ownership. Our focus was global.
- In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address the stated goals.
Proposed next steps:
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