Have you seen my latest article at Global Watch Brokers? Check it out below & let me know your thoughts. Enjoy!
-Far From Idle
The Statuspiece by Derrick Idleburg Jr. (Far From Idle)
I wonder if my fellow millenials would find this more useful. Photo Credit: Memes.net
I recently received an article from a good friend of mine (@Yo_Soy_Juanito), in regards to how millineals view timepieces. From the way the article reads, the astounding answer is a status symbol. According to the article (written by the Kansas City Star’s Rick Montgomery), 1 in 4 millenials wear a timepiece on a regular basis. This is partly because of the use of smartphones & other devices that show the time.
While this is true, I personally don’t see a replacement for a nice timepiece. Call it what you want, but when I need to know what time it is, I would prefer to just look down at my wrist & get back to what I’m doing. I guess that makes me old fashioned.
The question is why? Why is it that students see timepieces as a status symbol only?
Something tells me that it has a lot to do with the way millenials operate. No, we aren’t lazy. Yes, we do want to learn. We love Entrepreneurship. Perhaps, it’s not about status as it is more functionality & fashion.
Believe me, the watch industry has caught on. Considering that one-day millenials will be in the age range (roughly 35-55) that (luxury) watch industry targets, we may want the status symbols, but we will most likely have the fashion statement watches & the functionality watches. My question is why not combine all 3 and create something that feeds into all those demanding needs of the millennial watch enthusiast? Kidding.
That’s not the problem either. I would argue that it is an education issue. Perhaps if they knew what really went behind the creation of a movement etc. perhaps the appreciation for a nice watch could be reached.
If you read the article I included, then perhaps you may come to the conclusion that I did. It’s really just a matter of priorities. One of the people in the article argued that they would rather spend $10,000 travelling with a motorcycle than spending that on a Submariner for example. I completely understand that argument. If I were given the choice, I would most likely use the $10K & invest it in a venture or travel. Clearly for many of us, the priority at this time is more getting to the point that they can justify spending that kind of money. In my eyes, I think millenials priorities are just fine. The luxury watch industry will be fine as well. So there isn’t anything to really worry about. Television & Newspapers however are a completely different game.
That however is for another post, & another blog. Maybe I will write it on mine. Take a few moments to check out my blog Far From Idle. Come. Find out why.
What do you think? Do you think millennials see watches as a status symbol? Why do you think that is?