The change in consumer values serves as a reference point for the development of consumer society and, at the same time, a direction for controlling and manipulating citizens by state and business structures. Moreover, the transformation of consumption profoundly impacts society, right up to the reform of political systems. In turn, consumers’ practices and preferences, dialectically related to production, have their own dynamics, depending on a variety of objective and subjective factors. Despite the attention to various aspects of consumption by scientists and practitioners, many issues of its development remain controversial. This article examines the history of watchmaking and watches as an iconic consumer product. Using the example of the evolution of the watch industry, this study endeavors to expand the theoretical ideas about the role of consumer values in the economy, as well as to formulate some practical recommendations for the state management of the domestic economy.