Luxury Watchmakers Woo Generation Z With Snapchat And Bitcoin – MENAFN.COM

(MENAFN- Jordan Times) GENEVA – Luxury watchmakers are using Snapchat and bitcoin to woo Generation Z, unused to wearing something on the wrist, believing younger buyers could become a powerful driver of sales growth for top-end timepieces.Millennials (born between 1980 and the late 1990s) and Generation Z (born between 1997 and 2010) are taking an early interest in luxury goods, according to a study by management consultants Bain & Company and the Italian luxury brands association Altagamma Foundation.Their spending is expected to increase three times faster than that of other generations by 2030, it said.At last week’s Watches and Wonders trade fair in Geneva, where 48 brands such as Rolex, Cartier and Patek Philippe showed off their latest creations, Swiss watchmakers were well aware of the trend.“It is very important that once a year we showcase that wearing a watch is trendy, and even something for the youngest generation which is not used to wearing watches,” Rolex chief executive Jean-Frederic Dufour said during the annual fair.The sector needs to reach out to a generation“used to seeing everything on a screen”, he said.On a stand dedicated to innovation, representatives from the Snapchat instant messaging app showed off an application that lets
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