GENEVA, April 4 — 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.
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. In a nod to this generation, Hermes presented a collection with designs inspired by its silk scarves, including one representing a princess on horseback taking a selfie photo.“The younger generation—contrary to popular belief—have more economic power than any generation that preceded them,” said Jean-Philippe Bertschy, an analyst with Swiss investment managers Vontobel.
“They simply have more disposable income to be allocated to discretionary spending”, the analysts said.