Wearable gadgets have claimed consumer wrists, pushing traditional timepieces into a niche status. Since smartphones integrated timekeeping, watches shifted from necessity to style statement. Pandemic fitness trends accelerated the decline, with traditional watch wearers dropping from 46% in 2020 to 26% last year.

Millennials, Gen Z, and Alpha generations now predominantly favor smartwatches. Fossil's traditional revenue plummeted 67% between 2015 and 2025, while Swiss exports fell 41% from 2019 to 2025. Luxury houses initially thrived on wealthy American buyers, but sales have recently stagnated.

An unexpected contender emerges: the fitness ring. Led by Oura, which sold 3.6 million units in the past year, these devices monitor health metrics and appeal to high-powered professionals. If the ring trend continues, it could free up wrist space for luxury brands.

However, direct comparison remains difficult; Apple Watches retail between $400 and $1,000, while average Rolex values sit at $17,000. Swiss luxury volume remains flat at 15 million units annually, versus 200 million smartwatch units projected for 2026. A key barrier involves gender dynamics; fewer than one in three high-end buyers are women, who are more likely to wear smartwatches or go bare-handed.

The industry is starting to address this by redesigning women's lines to capture higher margins. Whether rings prove lasting or not, the sector must adapt to shifting wrist preferences.