The Rise of Non-Luxury Watches: Why 60% of the Market is Saying “No” to Overpriced Brands

Let’s set the scene. It’s 1995. You want to look successful. You walk into a Swiss watch boutique, the salesperson looks at you with the energy of someone who has never experienced joy, and you hand over the equivalent of a Honda Civic — just to tell people what time it is.

Fast forward to 2026. That same person is now buying a $120 watch online while sitting on their couch in sweatpants, questioning every life decision that led them to the boutique in 1995.

And they’re not alone.

The global watch industry generated approximately $76 billion in revenue in 2023, growing at a steady 4.44% annually. But here’s the plot twist nobody in the luxury boardrooms wants to frame in their next PowerPoint:

By 2023, 60% of all watch segment sales were non-luxury watches.

In plain English: for every luxury timepiece sold, there are roughly two and a half affordable watches finding wrists around the world. The math is brutal. The market has spoken. And the market said, “We’re not paying $8,000 for a brand name on the dial.”

China leads the entire global watch market in revenue generation at $17.8 billion — not because of Rolex or Omega, but because of the sheer volume of affordable, functional, well-designed watches reaching millions of consumers who want quality without the ego tax.

Millennials and Gen Z grew up watching billionaires wear $30 Casios. When Mark Zuckerberg, the man who could buy a small country, shows up to interviews in a $300 Patagonia vest and a watch that costs less than his coffee budget, it sends a message:

Style is not your bank statement. Performance is not your price tag.

The social currency of luxury watches has devalued faster than any cryptocurrency that wasn’t called Bitcoin. Today’s consumer asks: “What does it do?” not “How much did it cost?”

Let’s be honest — when a $399 Apple Watch can track your heart rhythm, answer your texts, and remind you to breathe (because modern life is stressful), a mechanical movement that just tells time starts to feel like buying a horse-drawn carriage in 2026.

Smartwatches have fundamentally shifted consumer expectations. The watch is no longer a time-telling device — it’s a lifestyle management hub. And smartwatches democratized this. Now everyone from college students to corporate executives has a glowing rectangle on their wrist. The non-luxury watch market adapted to this by offering hybrid watches — analog aesthetics with smart features — at a fraction of the cost.

Here’s where it gets fun.

The modern consumer doesn’t want to wear what everyone else is wearing. They want a watch that says something about them. Custom colours, interchangeable straps, personal engravings — the market has pivoted from “I can afford this” to “This is mine”.

And this is great news for manufacturers like us.

We didn’t set out to compete with Swiss heritage brands. We set out to serve the other 60% — the retailers, the independent watch brands, the dropshippers, and the entrepreneurs who want to put their own logo on a quality product without remortgaging their startup.

Two products from our range perfectly illustrate this shift:

Let’s talk about silicone. It’s waterproof, sweat-resistant, flexible, and costs a fraction of what you’d pay for a metal bracelet or a genuine exotic leather strap.

Our custom silicone watch straps are the backbone of what we do. Why? Because they’re practical, customisable, and perfect for the active consumer who doesn’t want to baby their watch.

A buyer in Southeast Asia once told us: “I bought a $2,000 watch and a $15 silicone strap. Do you know which one I actually wear to the gym?”

(It was the silicone strap. On the $2,000 watch. Because that’s the future.)

With silicone, you can offer your customers dozens of colour options, custom branding, and quick-release mechanisms — all at a price point that lets you maintain healthy margins. That’s the non-luxury economy in action.

Now, leather is a different story. Leather says “I have taste.” Leather says “This is a real watch, worn by a real person.”

But here’s the key: you can offer genuine leather quality without the luxury markup. Our custom leather watch straps are manufactured with proper craftsmanship — hand-stitched edges, quality tannery-sourced hides, and finishes that would make a luxury brand proud of their price list.

The difference is who takes the profit margin. With a luxury brand, you’re paying for the name, the boutique on Fifth Avenue, and the salesperson’s existential dissatisfaction. With SHX, you’re paying for the actual product — and your customers get quality they can see and feel.

If you’re sourcing watches or watch straps as a retailer, brand, or e-commerce operator, the data is clear:

The opportunity is in volume, customisation, and value.

Consumers are not buying less. They’re buying smarter. They want:

• ✅ Quality that lasts
• ✅ Designs that express individuality
• ✅ Prices that don’t require a financial advisor
• ✅ Brands that feel authentic, not corporate

This is the exact space where a manufacturer with 17+ years of experience, ISO9001 certification, and the ability to do OEM/ODM custom orders becomes your most valuable supply chain partner.

The luxury watch market isn’t going anywhere. Some people will always want a $50,000 hunk of Swiss engineering on their wrist, and that’s perfectly fine. We respect their commitment to horology.

But for the other 60% — the trendsetters, the pragmatists, the entrepreneurs, and the people who just want a damn good watch at a damn good price — the market is wide open.

And we’re here to help you serve them.

Ready to build your watch brand? Contact SHX for OEM/ODM pricing and custom watch strap solutions.