PPB April 2021

Time Pr oduc t s Father Time Stays Forever Young Within a few centuries, as people have grown more accustomed to keeping time, personal watches have transformed from the flattened and curved pocket watch to the multi-functional, high-tech smartwatch. For those looking to better manage their time, innovative time products have endless benefits. The first mechanical clock was invented in England in 1275, and used gears with a spring instead of water or weights. This design paved the way for compact timepieces like pocket watches and wristwatches. In the 1540s, the Swiss watch industry was born when reformer John Calvin banned people from wearing jewelry. Jewelers were forced to learn a new craft: watchmaking. In 1574, the first known pocket watch was created in bronze, instead of iron, which was previously used, with religious depictions on both the front and back. However, it wasn’t until 1680 that the minute hands were added to clocks. In the 1700s, clock ownership became more widespread, and manufacturers began producing all kinds of clocks from large grandfather clocks to small, decorative table clocks. Following mass production of the 19th century, the first wristwatch was created in 1812 for the wrist of the Queen of Naples. Damage-prone wristwatches were primarily worn by women while men carried pocket watches that could better survive the elements. But wristwatches became more popular for men in the military. During World War I, pulling out a pocket watch to check the time, which meant that soldiers could not fully carry all their equipment. To keep their hands free, soldiers were given wristwatches called “trench watches.” Wristwatches soon became part of an officer’s war front kit. Today’s wristwatch wearers are still looking to keep their hands free while remaining fully connected to the world. In 2018, the total U.S. wholesale watch market grew 13 percent to $8.8 billion, driven by a 54-percent increase in sales of smartwatches, according to The NPD Group. “We have entered a new watch universe where smart options have become as significant as the traditional,” says Reginald Brack, watches and luxury industry analyst, The NPD Group. “Smartwatches are today’s growth engine, but there is still a place for traditional watches among consumers and in the marketplace.” And consumers are still changing how they wear watches as a new generation of watch-wearers emerge. In the 12 months ending June 2019, total watch market sales rose 17 percent to $9.5 billion. Smartwatches drove much of this growth, but an increasing number of consumers under 35 years of age are embracing the fine watch segment, according a report from The NPD Group. “More U.S. adults are wearing watches today than four years ago, and that is a healthy trend for the entire industry,” says Brack. “Smartwatches have become the entry point for new watch consumers looking to make their own personal statements, creating opportunity for many traditional watch brands across all price points.” From the high-end, traditional luxury watch to the smartwatch that can monitor your heart and steps, wristwatches will, at some point, have a place in every consumer’s life. 46 | APRIL 2021 | GROW