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Luxury goods sales plummet. Luxury watch buyer's market?

chichi
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"Now she will happily buy a £2k jumper without looking at it first - on the basis that if she doesn’t want it, they’ll come and collect it."

Is that an apples to apples comparison?

If I buy a watch at the AD, I don't have that same guarantee of the AD coming to my house the following week to take the watch back...
 
SpeedyPhill
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For the majority of people... " Luxury goods " are the very last thing on their minds right now !
 
JanV
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BlackTalon BlackTalon
If sales of luxury handbags plummet, there will be a lot more money in many households to fund luxury watch purchases. Win-win.
Or there will be a huge vacuum build up of handbag purchasing that could affect future watch purchases.
 
Evitzee
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SpeedyPhill SpeedyPhill
For the majority of people... " Luxury goods " are the very last thing on their minds right now !
It would be interesting to know how the sales on Omega's e-commerce site have fared over the last couple of months. Up, down, flat?
Edited:
 
Martin_J_N
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Evitzee Evitzee
It would be interesting to know how the sales on Omega's e-commerce site have fared over the last couple of months. Up, down, flat?

Now this is a good question, how busy has Omega's on line shop been, did they have stock to sell, has anyone used the service to buy a watch during lockdown?
 
8100_RPM
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Evitzee Evitzee
It would be interesting to know how the sales on Omega's e-commerce site have fared over the last couple of months. Up, down, flat?

I actually received an email from Omega's e-boutique manager at the end of March.

"Greetings,

I am the e-Boutique Manager for OMEGA watches.


I hope all is well and that you are safely navigating the current conditions. With that said, I wanted to take this time to personally check in with you and say hello.


Feel free to write back, say hi & check-in! I’d also love to hear stories on your history with the brand!"

I doubt we will actually find out but I am also curious to see how their online sales are going. Spring bar tools are currently not available for the NATO straps and they are temporarily unable to size watches on a bracelet.
 
kanye_mouse
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Uniqez Uniqez
The whole world went to online sales, why watch manufactures wouldn't? Experience in the boutique is nice, try watch in metal nice too, but if people are staying home this doesn't do any good for sales. I think it will be way to go,moving forward.

I think they're sensitive to disrupting their AD network. They view them as critical for the reasons you mention, and don't want people to end-around and buy online direct from manufacturer instead. I also read someone in this forum conjecture that watch brands have been reluctant to go online because it will exposure the disgustingly high margins they otherwise chalk up to as part of the "luxury experience."
 
STANDY
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gemini4 gemini4
Good news. Which Hermès dealer has a blue 35cm Birkin collecting dust? I need it by Sunday.😁

How good are you at sewing as I can get the materials for next to nothing by tomorrow for you. All Hermes crocodile leather ( well skins 😉 ) come from my neck of the woods.
( couple of packets of RitDye and a bucket of salt and a sewing machine and your good to go )
 
JacksonPollock
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Uniqez Uniqez
The whole world went to online sales, why watch manufactures wouldn't? Experience in the boutique is nice, try watch in metal nice too, but if people are staying home this doesn't do any good for sales. I think it will be way to go,moving forward.

I will add that swiss business culture is relatively conservative especially in luxury watches where tradition is valued.
 
obstando
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I can certainly see a dip coming in the new market as there is already an over-saturation and if demand drops as predicted then there may be a drop in prices. Vintage is a different ball game and appeals to a different market which will be less impacted by the current problems. Good examples of collectible watches will always be in demand - there's more new money and fewer watches in circulation
 
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