I'm beginning to feel that the elaborate "triple-boxed with drawers containing a hardbound user manual" watch packaging is going too far. For less expensive watches especially I look at the packaging and wish that they had just put that money into the watch. And -- this may be a function of living in space-starved Japan -- I'm annoyed at having to decide whether to hold onto all the packaging or trash it.
I'd like the choice of being able to decide on the sort of packaging I get. Gift? O.K., maybe a nice box is appropriate, but charge me extra for it so I don't think I'm paying for others' boxes when I buy without a box.
There could also be the "YouTuber's unboxing edition," a mahogany and gold-fixtured box with Swarovski crystals inlaid, the cost of which is refunded when you post a video with x number of views.
If the watch is just for me and I'm not a watch collector type looking to get an extra fiver on eBay ten years from now ($2.00 net present value), maybe just use functional packaging that will protect the watch.
Watch companies should consider it from the point of view of the watch owner: You see the box for a few minutes, and then it becomes a storage burden. If you own any number of watches, the combined space of all the boxes is a real waste. If they reimagined what the perfect packaging might be for someone owning a few watches, it might be a high-quality customized storage sock for the watch being sold that could be used as permanent storage in a drawer without taking up much room. Beyond that, bubble wrap and a warranty card with the URL of the manual, all in a corrugated cardboard box.