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New York, NY--A survey by YouGov on behalf of Chrono24 indicates that younger consumers in Germany, particularly those aged 18 to 44, are more likely to own or consider purchasing a luxury watch than older generations.

[Image via istockphoto.com]

Traditionally, luxury watch manufacturers have targeted older demographics presumed to have higher disposable incomes. However, the survey of 2,123 German citizens challenges this assumption. Over one-third of participants aged 18 to 44 reported owning or considering buying a luxury timepiece. In contrast, only 26% of those aged 45 to 55 and 17% of individuals over 55 expressed similar intentions.

Men show more interest in luxury watches than women, with 33% of men owning or wanting to own a high-end timepiece, compared to 19% of women. The survey also found that design, movement quality, and brand prestige are the most significant factors when purchasing luxury watches across all age groups. Price and value retention are more important to men than to women. Both genders place less emphasis on the rarity or history of watch models.

Even with financial challenges such as rising inflation and rent costs affecting younger individuals, 20% of respondents aged 18 to 24 indicated they are likely or very likely to purchase a luxury watch within the next year, slightly above the 18% average across all age groups.

Rolex emerged as the most popular brand among first-time luxury watch buyers, chosen by 16.2% of men and 27.7% of women. Omega secured second place, followed by Seiko, Breitling, TAG Heuer, and Cartier. While 13.7% of men favored Omega compared to 9.6% for Cartier, the trend reversed among women: 11.6% preferred Cartier as their first luxury watch, whereas only 2.7% of men did.

Link to the survey published in Chrono24.