Comments:
You can purchase this "e-commerce first" Panerai limited edition directly through Panerai's website here:
Is this is going to be the future of watch sales? Selling directly to the customer and by passing authorized dealers? We've had this discussion for quite some time now but with brands starting to make "limited editions" sold exclusively through their own websites, it only further strengthens this retail concept of selling directly to the consumer.
Panerai's 1st limited edition sold exclusively online through Panerai.com - the PAM731 Luminor Submersible
Panerai is releasing a 100-piece limited edition sold exclusively online at its website - the 44mm PAM731 Luminor Submersible.
44mm automatic Luminor Submersible polished stainless steel case with brushed bezel. Water resistant to 300m with a dark navy blue dial.
Retail price is $7,200. Once the first 30 pieces are sold out, the remaining orders must be placed through phone at +1 877 726 3724
www.panerai.com
Personally, this Panerai is nothing unique and not a "hot" watch in my book. Panerai seems to be testing the waters with its first online limited edition piece.
Personally, this Panerai is nothing unique and not a "hot" watch in my book. Panerai seems to be testing the waters with its first online limited edition piece.
Is this is going to be the future of watch sales? Selling directly to the customer and by passing authorized dealers? We've had this discussion for quite some time now but with brands starting to make "limited editions" sold exclusively through their own websites, it only further strengthens this retail concept of selling directly to the consumer.
The middleman is slowing getting cut out of the equation. Thoughts?
Cheers,
Anthony
Anthony
I think e commerce cannot never replace brick and mortar
Nice watch but I won't get it.
With regard to the middleman, how do you deliver the luxury experience without a brick and mortar store? Do not see how you can buy a luxury watch online and feel the experience you get from current brick and mortar. Perhaps they can but they will have to change the whole luxury concept all together, not to mention to change the whole business model of the industry. Just my 2 cents worth
With regard to the middleman, how do you deliver the luxury experience without a brick and mortar store? Do not see how you can buy a luxury watch online and feel the experience you get from current brick and mortar. Perhaps they can but they will have to change the whole luxury concept all together, not to mention to change the whole business model of the industry. Just my 2 cents worth
Really good point.....
.....and one that they may live to regret. By going down this path, you are almost sending a message that "luxury" service is not part of the plan.
good point and I add that Panerai
watches are tool watches. Not luxury ones.
Back to their DNA. This one, to catch newbies, and they have to lower much more their e-price ;-))
Back to their DNA. This one, to catch newbies, and they have to lower much more their e-price ;-))
Smaller box is a good point in term of volume storage and expedition fees.
My 2 cents,
Cheers,
Patrickh
My 2 cents,
Cheers,
Patrickh
'Luxury experience'
I'm not sure to what extent that 'luxury experience' really exists. It's something mentioned time and time again but I don't ever recall any experience in a watch boutique or AD that would ever have any influence on my purchase. My point being maybe Richemont and others have arrived at a similar conclusion and that this so called 'luxury experience' doesn't really carry any material weight in process of deciding to buy or not to buy or which brand/watch to buy.
Che sara', sara'......
These days, e-commerce is as much part as the distribution network as authorised agents, wholly owned boutiques and franchised ones. Personally I believe that you must be present on the 3 different scenarios just to keep up with your customer's trend. The fact that Panerai has been addressing new clientele was pretty obvious with the creation of the Luminor Due line. I'm sure that they will sell all the pieces available of the PAM731, due to the fact that is a..middle of the road..model and being a 44mm Submersible, will "wet the palate" of few Subs followers that think 47mm are a bit excessive. I personally don't think Panerai will divert too many resources to make e-commerce a substantial part of their balance sheet. In Italy we say: "Who will live, will tell" 
It's about time the Swiss brands started selling directly online
This thing called the "internet" has been around since 1993 and "e-commerce" followed soon after. Heck, I just checked my account and I've been an Amazon customer since 1999. This watch forum and others, and all the other watch blogs are online. Who still waits for the next paper issue of Watchtime or IWW to get their watch news?
"E-commerce" is not new and it's been the trend in all retail since then. Even luxury items and I say especially luxury items. It's kind of laughable if it hasn't been so sad that the watch industry hasn't gotten it yet or are just waking up to the reality.
In fact, to me as an avid online consumer nothing is more important than my time. And I find it "luxurious" to be able to shop for whatever I want in the comfort of my home in my sweats, on my smartphone while I'm on the road, and well, you get the picture.
For those that want to get pampered by the staff at an AD and/or Boutique and drink free champagne that experience is still there for you if you want it. That's not going away, but it's a trickle. Let's be realistic here, there are far more potential buyers of luxury goods out there online than there are folks going to visit the brick and mortar shops in person. To only focus on the latter will make you obsolete sooner than later.
For the watch industry to ignore the online sales space is like focusing only on mailed out flyers for sales in today's world.
I'm fine with boutique only, but definitely not online. The latter just takes away all the excitement of such a luxury hobby. [nt]
No message body
Armani Haute Couture....Emporio Armani....Armani Exchange.
Same maison, very...VERY...V E R Y..different demographic targets
Haha....Yes, Swatch, Tissot, Omega, Blancpain, Breguet, Harry Winston boutiques are all very different as well. [nt]
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Not a good thing, in my opinion. For a simple reason: A watch remains a luxury purchase.
The human feeling is important in the luxury world.
Panerai, and all watch brands, should definitely take care of that.
Best,
Nicolas
I understand your point of view but....
times change, my friend. For the new. forward-looking-live-in-the-present-time clientele, the boutique "touch", is completely anachronistic. As Reintitan wrote, nowadays all sorts of luxury items are easily available "on line".
Well, I ordered it today...
Had to call their USA office as noted to do so.
Lovely salesperson who took my order and was able to answer all questions. She indicated they were close to all being sold today. Delivery middle of July....not bad.
Dave
Big Congrats, Dave. 100 pieces LE is very old school for Panerai.
And a 30 day return policy? You can't go wrong.
As I posted above, the watch itself looks very attractive. Maybe only better in titanium, but a steel PAM at 44mm is never wrong.
About buying without seeing, I have bought most of my watches like that, so really I see no offense there.
As I posted above, the watch itself looks very attractive. Maybe only better in titanium, but a steel PAM at 44mm is never wrong.
About buying without seeing, I have bought most of my watches like that, so really I see no offense there.
Well, the watch itself looks very cool to me.
I would definitely wear it.
As for the sales practice, not sure I like that end of it.
This trend is inevitable
In all businesses. However, for the high end of the market in any business I don't see online purchases thriving unless it's a commodity. A small percentage of sales agreed. First, people believe and trust in people. Secondly, the high end market doesn't necessarily need to be pampered but does need a tactile experience.
Look, I've had enough buyer's remorse in the past buying watches at AD's after trying them on so I couldn't even imagine the online experience. I've learned only to move on what I truly love after I've done my research and it ticks all the boxes. I wouldn't buy a Bespoke or Kiton suit online anymore than I'd buy a watch and especially a new watch I've never seen in person. There are already service issues in the industry so to go online won't improve it or reduce pricing IMHO.
I'll buy a book, T-shirt, Fitbit, toys for my kids or any low cost and low risk product online, but to spend $7,200 let alone $50k on a luxury watch without the tactile experience and service to back it up seems like a leap. The brands who become the most successful at direct online sales will dimish their prestige over the long term. Also, online buyers go back to the well for reliable products through a single source for those products. Watch collectors are an unusual group many of whom collect many different types of watches from many different brands both new and vintage. I think this model requires bricks and mortar with people and choice.
Full disclosure, I don't know anything about anything other than my business.... and Bordeaux. Both took years of daily practice
I had similar concerns...
I asked Panerai questions around some of these concerns when I ordered this piece since sight unseen. They have a 30 day return policy on the online order and of course the same warranty and service period/outlets. The order confirmation repeated this in the email I received.
All that said, I still very much enjoy the boutique and AD experiences. I appreciate the outlet on line but also recognize that there aren't likely any deals through that channel.
Dave
All that said, I still very much enjoy the boutique and AD experiences. I appreciate the outlet on line but also recognize that there aren't likely any deals through that channel.
Dave
Please do share your experience
when it arrives and how you enjoy the watch. I suppose service variation, if any, will be learned over time. This was probably a smart watch and price point for Panerai to test the water. Kindest regards,
I agree
... i would never buy a watch without seeing it 'live' and actually waering it to feel, see, experience before buying it.
The trend is indeed inevitable but for some things ... brick n mortar works.
I can't imagine the process or issues if the watch gets 'lost' in the mail.
The shipping and/or return policy and its insurance that goes along with it should be flawless.
The trend is indeed inevitable but for some things ... brick n mortar works.
I can't imagine the process or issues if the watch gets 'lost' in the mail.
The shipping and/or return policy and its insurance that goes along with it should be flawless.
Panerai 731
Nice post
I bought one yesterday Over the one as I don't live in the US and this is a US addition only.
I arranged to pick it up at the boutique in NY so will have the salon experience also.
Iqbal
I bought one yesterday Over the one as I don't live in the US and this is a US addition only.
I arranged to pick it up at the boutique in NY so will have the salon experience also.
Iqbal
Just another sales channel, if done right
A lot of the commenters in this thread seem to be treating this like a foray into purely online sales. I don't see that at all.
This is just another sales channel for watch companies, one that offers solid benefits for the sellers, if not the buyers.
If done right, this sales channel would be used sparingly, at least to start, and would target existing customers of the brand who know what they want. Many (most? all?) of the buyers of this particular piece probably already own one or more Panerai pieces, know they like them and that the size works for their wrist. Also, the very limited edition nature of the offering is able to substitute for the so-called luxury experience by providing other benefits. And presumably these pieces could be delivered via Panerai boutiques, so the luxury experience could still be had.
I think this is a fine move for Panerai as long as they don't milk it too much, though given Panerai's never-ending steam of slightly varied limited editions, perhaps I'm being unrealistic
Cheers,
John
This is just another sales channel for watch companies, one that offers solid benefits for the sellers, if not the buyers.
If done right, this sales channel would be used sparingly, at least to start, and would target existing customers of the brand who know what they want. Many (most? all?) of the buyers of this particular piece probably already own one or more Panerai pieces, know they like them and that the size works for their wrist. Also, the very limited edition nature of the offering is able to substitute for the so-called luxury experience by providing other benefits. And presumably these pieces could be delivered via Panerai boutiques, so the luxury experience could still be had.
I think this is a fine move for Panerai as long as they don't milk it too much, though given Panerai's never-ending steam of slightly varied limited editions, perhaps I'm being unrealistic
Cheers,
John
I am thinking you are right John...
Or at least I have ordered the piece hoping this is the case.
The phone ordering process was easy, polite and informed. I asked quite a few questions which gave me piece of mind. The Panerai network of AD's and Boutiques is still as accessible for service as any piece. Shipping and tracking is well described with a high level of communication (I will see).
Further, there is a 30 day return policy. Not so obvious that this exists in a physical store...never noticed.
As you say if kept small then perhaps the dealers are pacified but I suspect there is a concern there.
The phone ordering process was easy, polite and informed. I asked quite a few questions which gave me piece of mind. The Panerai network of AD's and Boutiques is still as accessible for service as any piece. Shipping and tracking is well described with a high level of communication (I will see).
Further, there is a 30 day return policy. Not so obvious that this exists in a physical store...never noticed.
As you say if kept small then perhaps the dealers are pacified but I suspect there is a concern there.
Congrats in advance on getting this piece!
I can understand how dealers would be concerned, though I view the offer as akin to a boutique-only LE, which have become increasingly common in recent years. But yet another sales channel that circumvents the non-boutique AD channels would concern me if I was a dealer, no doubt. Thanks for sharing your experience procuring this piece.
Cheers,
John
Cheers,
John