I agree the low to mid range watches will phase down, but I think the high end will actually expand. For a while the younger generation weren't wearing watches, but the Apple Watch (and others like) will get them use to wearing one. And as they grow older and mature, their taste will be more sophisticated and they would want to differentiate themselves from the rest of the pack. At that time they would want to treat themselves to a more desired, high-quality timepiece.