KMII's observations from Zürich about significant discounts and heightened customer service in luxury watch retail raise a crucial question: is the watch industry facing a genuine crisis? His detailed account of seeing current models and high complications heavily discounted, even in brand boutiques, provides a compelling snapshot of market conditions that warrant deeper discussion among collectors and industry observers.
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?
