ABSTRACT
Chapter 8 summarizes the key challenges emerging for practitioners as digital transformation and the recent COVID-19 pandemic continue to reshape the luxury watch environment. Thus, the final chapter provides a practical outlook on future drivers of competition and growth in the luxury watch industry. Going beyond the Swiss context, the chapter reflects on cutting-edge technologies such as the transformative Web3 and the changing demands of younger consumer generations. Consequently, the implications of blockchain technologies and NFTs as competitive drivers and backbones of a decentralized Internet of tomorrow are discussed. Ultimately, the future outlook provided in the chapter includes a discussion on how Web3 may change the luxury industry, in general, and the luxury watch sector, in particular, given the potential to provide consumers with a personalization far beyond the physical product in online and offline environments.
