Reported by: Michelle Franzen
NBC
At Tourneau in New York City time is ticking.
With more than 10,000 watches on display at the flagship store work has already started to reset each timepiece before daylight saving ends Sunday.
But, like other businesses, the watch industry would like to turn back the clock on this recession.
From luxury collectibles to fun and affordable, watch sales are down.
"The economy is very difficult, so the upcoming holiday season presents challenges for all of us in retail," said Tourneau’s Andrew Block.
But there are other factors at play when it comes to the decline in watch sales. Mainly the increase in the use of cell phones, Blackberries, and other personal electronic devices that already have clocks built in."
"I don't wear a watch. I only look at my phone," said college student Leila Mebourkh.
"Watches are a little more for the older generation for gifts, graduation," said student Tad Knier.
A younger generation, style experts say, that grew up embracing technology to tell time.
"Nobody really needs a watch anymore. It's not functional," said style expert Katrina Szish.
And in some circles not in style either. Just ask student Kendra Franklin.
"Are watches still cool? No, no, get rid of them," said Franklin.
According the Doneger Group U.S. sales for watches below $200 have been in decline since 2001.
But, style experts say don't count out the classic timepiece or trendy watches just yet.
"This does not mean that by any means the watch industry is in trouble. It's just a change in the culture. It's a cultural shift," said Szish.
And for many, a shift to what works best.
Jonathan More uses both.
"A watch will always tell time, always a fashion statement, but convenience is king," said More.
But even with all the options out there today some things haven't changed.
"So, that means you're never late? Yes - ah, no, working on it," More joked.
