Is the Watch Industry on the Cusp of a Physical Retail Renaissance" Part 2
For years, the watch industry has been resistant to selling online. But now, luxury watch brands and, most importantly, the larger groups are not only racing to embrace digital clientele but are also trying to gain more control over the final sale. As a result, traditional retailers are facing even more pressure in the age of “Millennialization” and have to quickly come up with new ideas to attract customers who are looking more and more for experiences rather than transactions ? new ideas that, if done right, could very well lead to a renaissance of offline retail.
It?s Not Just a Transaction
The average American now spends almost 24 hours a week online, according to data from USC Annenberg published in January 2018. Which means that, even with digital undoubtedly representing one of the most realistic opportunities for growth, the watch industry will still need offline retail for the remaining 144 hours of the week. Consumers are not always online, and they will also appreciate an independent partner. In addition, complicated mechanical watches will always have to be explained, to a certain degree, in person, and not every watch brand can (or wants to) sell watches directly to the consumer. This opens up possibilities for a new generation of retailers who no longer see their role reduced to the transaction of goods and services alone. Too often, business-as-usual looks like this: a customer is entering a store and asking to see and potentially buy a specific w...
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Introducing – The Golden Meteorite Dial of the new Formex Essence 39 Space Gold
02-05-2024 05:28 - (
Luxury Watch )