KMII[Montblanc Moderator]
29829
Has the crisis arrived for real?
Jul 21, 2017,09:30 AM
Been to Zürich the other day and while it was a family trip, I could not stop making it watch related, too (which one of us can? 
).
And there have been some quite interesting observations I made.
Let's start with the outright shocking. One of the truly storied Zürich watch retailers (of many a double signage model) looked shockingly like a discount / outlet store - all across the shop windows you had massive sale and % signage. And the watches - mostly from reputed manufactures we all discuss here frequently - were arranged into clusters of -20 - -40% then -30 - -60%... Current models, too. And many high complications.
A bit taken aback the other observations were not pointing in a different direction, either. Without mentioning any brands, I got offered double digit discounts in brand boutiques on selected pieces, and was pretty much without exception handled by the boutique director - in spite of entering in a decidedly low key attire (polo, slacks & backpack).
And I have been to all boutiques for the first time - so no 'good customer bonus'.
While the really great customer treatment is highly welcome (not sure this has gotten better - got no comparison values), I am wondering if these are some harbingers of a real crisis in the industry.
Have any of you made similar observations lately?
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Has the crisis arrived for real?
By: KMII : July 21st, 2017-09:30
Been to Zürich the other day and while it was a family trip, I could not stop making it watch related, too (which one of us can? ). And there have been some quite interesting observations I made. Let\'s start with the outright shocking. One of the truly s...
+1 [nt]
By: anaesdoc : July 21st, 2017-09:46
One then...
By: KMII : July 21st, 2017-11:31
Thanks for the update!
not the big discounts but quite similar
By: Bruno.M1 : July 21st, 2017-09:47
Was in Düsseldorf today, seen quite a few Panerai LE. Years ago these references like the 685, 687 and 662 would have been hard to get watches that sold out the first day of SIHH Today they are all in the window, UNSOLD
Could well be...
By: KMII : July 21st, 2017-11:32
Not all were limited editions, though.
I suppose so...
By: KMII : July 21st, 2017-11:35
Saturation is a given if brands are buying stocks back from ADs.
Shoot, went at the wrong time....
By: Clueless_Collector : July 21st, 2017-10:23
However, I do get some offer for discounts during my trip in Feb, and looking back, the deal was better than in Germany for that watch. On the flip side, dollar is so weak now so maybe that's why discounts can help to offset some foreseeable weakness ahea...
I live in Zürich.
By: MCG (Markus) : July 21st, 2017-10:25
But I do not know from which stores you speak. Non, that I would know of (and I know all of them ;-), looks like a discount store or has discounts pointed at openly. Except 1 window (from Meister and often from Kurz) of about 20 windows, where they have t...
Türler
By: Bengoshi76 : July 21st, 2017-10:42
I guess he's referring to Türler, which will close shop by end of the year, if I'm not mistaken. Best Marco
I see...
By: KMII : July 21st, 2017-11:49
That bit I did not know. And yes, the discount signs were only at this one store (visible from the outside).
Not sure...
By: KMII : July 21st, 2017-12:59
Apparently they are about to close...
Absolutely!
By: KMII : July 22nd, 2017-00:39
That's why I wanted to see if my experience was unique or shared
being a very modest collector, I will answer from my own point of view
By: georgeszaslavsky : July 22nd, 2017-05:14
Luxury goods are often considered as Veblen goods. You need also money and a serious purchasing power to purchase some timepieces. Despite some so called discounts, some pieces are not sold because on some markets, the economic situation has worsened. I r...
In London in my experience
By: marcobermann : July 22nd, 2017-06:51
Hi all Although some higher end shops do have a small selection of watches in a discount window most seem to try and avoid this move for obvious reasons. However if not all most of these retailers are and have offered 0% finance deals over up to 4 years w...
The financing aspect is interesting indeed
By: KMII : July 22nd, 2017-08:06
Small payments make the purchase more easily digestible for those where the cash outflow of a new purchase is an issue. It will not sway everyone but will also be cheaper to offer for an AD than a discount and it will definitely not produce a precedent in...
Ah, Veblen...
By: KMII : July 22nd, 2017-08:09
Last man who knew everything according to his contemporaries I can definitely understand your approach, though. Still, I don't see us being past the conspicuous consumption phase as a society, in spite of some difficulties to move product. So from that pe...
Could have fooled me!
By: Langeholic : July 23rd, 2017-00:50
I travel very often, in the last couple of months I've been to Dubai, , Geneva, London, Paris, New York, Verona, Venice, Bologna and Florence. Of course I have stopped off at AD's in every destination and have witnessed a modest softening of prices, but r...
Thanks for adding your experiences!
By: KMII : July 23rd, 2017-05:18
Interesting to hear. There was a high complication watch from one of the brands you collect seriously discounted in that window in Zürich, btw. As long s brands can afford to take longer to sell, all is good, I guess. Not sure that all can, though...
I need to arrange a trip to Zurich 😉
By: Langeholic : July 23rd, 2017-06:13
I think it is very dealer specific, I am in Bologna at the moment and the AD was not willing to budge, he was almost offended I asked for a discount. Others are more flexible depending on the model, personally I find it difficult to achieve discounts on g...
