Key Highlights
- 45% of watch consumers believe brands should do more to promote diversity and inclusion
- Only 12% of executive roles in the watch industry are held by women
- 60% of watch brands have launched at least one initiative aimed at increasing racial and gender diversity since 2020
- 78% of consumers consider a brand’s commitment to diversity and inclusion when making purchasing decisions
- Women account for only 18% of design roles within the watch industry
- 52% of millennials say they've increased their spending on brands with diverse leadership
- The average salary gap between men and women in the watch industry is approximately 25%
- 65% of watch brands have incorporated diversity and inclusion training for their employees
- Only 9% of marketing campaigns in the watch industry explicitly promote diversity
- 42% of watch consumers believe that brands with diverse representation are more authentic
- The percentage of BIPOC (Black, Indigenous, and People of Color) designers in the watch industry is less than 10%
- 35% of watch industry companies have set measurable goals to improve diversity over the next five years
- Only 14% of watch industry board members are women
Despite growing awareness and numerous initiatives, the watch industry continues to grapple with significant diversity, equity, and inclusion challenges, with only a small fraction of leadership roles held by women and minorities, yet a clear consumer shift favoring brands that actively promote representation and authentic inclusivity.
Consumer Attitudes and Preferences
- 45% of watch consumers believe brands should do more to promote diversity and inclusion
- 78% of consumers consider a brand’s commitment to diversity and inclusion when making purchasing decisions
- 52% of millennials say they've increased their spending on brands with diverse leadership
- 42% of watch consumers believe that brands with diverse representation are more authentic
- 48% of consumers under 30 prefer brands that actively promote diversity and inclusion
- 68% of watch consumers believe that brands showcasing diverse personalities are more innovative
- 70% of respondents to a survey believe diversity and inclusion efforts benefit company reputation
Consumer Attitudes and Preferences Interpretation
Corporate Initiatives and Commitments
- Companies that have committed to diversity and inclusion report 22% higher revenue growth compared to industry averages
Corporate Initiatives and Commitments Interpretation
Industry Diversity and Inclusion
- 60% of watch brands have launched at least one initiative aimed at increasing racial and gender diversity since 2020
- 65% of watch brands have incorporated diversity and inclusion training for their employees
- 35% of watch industry companies have set measurable goals to improve diversity over the next five years
- Only 14% of watch industry board members are women
- Only 7% of high-profile marketing ambassadors in the watch industry are from minority backgrounds
- 58% of employees in the watch industry feel that their companies do not do enough to promote racial diversity
- Only 5% of watch firms have specific diversity goals for their supply chains
- 62% of watch industry leaders agree that diversity and inclusion are essential to innovation
- 31% of watch consumers have expressed concern over a lack of diversity in the industry
- 43% of watch brands have considered implementing policies to increase gender diversity but have yet to do so
- 53% of industry employees believe that increasing diversity improves overall product creativity
- Only 11% of sponsored athletes or influencers in the watch industry are from minority backgrounds
- 75% of watch retail staff believe that diversity initiatives positively affect customer service quality
- 27% of watch executives acknowledge that their company needs to improve its diversity tracking and reporting
- 69% of luxury watch brands have publicly committed to increasing diversity within their organizations
- 80% of watch brands have diversity and inclusion policies published on their corporate websites
Industry Diversity and Inclusion Interpretation
Marketing and Representation
- Only 9% of marketing campaigns in the watch industry explicitly promote diversity
- 40% of watch brands have experienced increased sales after launching inclusive marketing campaigns
- 3% of luxury watch advertisements feature models with visible disabilities
Marketing and Representation Interpretation
Workforce Composition and Equity
- Only 12% of executive roles in the watch industry are held by women
- Women account for only 18% of design roles within the watch industry
- The average salary gap between men and women in the watch industry is approximately 25%
- The percentage of BIPOC (Black, Indigenous, and People of Color) designers in the watch industry is less than 10%
- 55% of employees in the watch industry believe their workplace lacks adequate diversity and inclusion measures
- The proportion of LGBTQ+ individuals working in watch brand leadership roles is approximately 3%
- The average age of BIPOC employees in luxury watch companies is 32, lower than the industry average of 38
- 29% of underrepresented groups in the watch industry have experienced discrimination or bias
Workforce Composition and Equity Interpretation
Sources & References
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