The Swatch Group

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The Swatch Group

“What do you see as the biggest worries for luxury watch manufacturers in the short- and long-term future?”

The global watch industry is quickly changing. More and more companies have joined the industry with quality watches thanks to advancing technology. This has created various worries for the watch manufacturers. In the short-term future, the manufacturers are worried about how best to position the brand, the best pricing strategy. In the long-term future, they are worried about meeting the demands of the digital generation. Brand positioning, pricing strategy, and meeting new customer demands are the biggest worries for luxury watch manufacturers.

The biggest worries for luxury watch manufacturers in the short-term future are; first, how to position themselves properly in the increasingly competitive market. Tougher competition is expected ahead in the market. Competitive positioning is thus essential. Second is the pricing strategy. Luxury watch manufacturers worry about how best to price their products. They are not sure if a lower price or a higher price is the best to improve brand margins.

The biggest worry for luxury watch manufacturers in the long-term future is keeping up with consumer changing taste. With the advancing technology, consumers are becoming more knowledgeable about watches. This is affecting how they choose their desired watches. The current generation is no longer just interested in the time when buying watches. They are looking for more digital features. This means that as technology continues to advance, the manufacturers will have to stay ahead as it is the only way to lead in the market.

In conclusion, increased competition and advancement in technology has created various worries for luxury watch manufacturers. The worries include brand positioning, pricing strategy, and how to meet new customer demands. These worries must be addressed to overcome the global competition in the industry.