Business · 1 hour ago
Luxury watchmakers need fresh ideas to attract younger buyers
Luxury watchmakers must innovate more to attract new customers, as their strategy of selling fewer but more expensive items hits its limits. Gen Z buyers are less interested in status and prefer buying second-hand online, helping fuel the resale market. The shift in buyer preference, plus strong competition from Japanese and Chinese brands, is reducing Swiss watch exports, making the future harder for mid-market players.
Reported by The Straits Times · How we write briefs