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Inside the Mood of American Watch Retailers at Couture 2022 Event June 27, 2022 (0 comments)
Las Vegas, NV--After a long pandemic lull, watch and jewelry enthusiasts are back on the road this year to attend trade shows and events.
[Image source: ablogtowatch]
Members of a watch publication's editorial team made it to Couture 2022 to report about the reopening of trade shows post-pandemic, the opportunity it held for both big and small retailers, and how enthusiastic the industry was about accepting newer brands that could redefine retail's relationship with brands.
One of the notable bits of their observation at the watch event includes some key players investing in the distribution of digital wrist watches in a way that offers security and convenience to customers. The article notes that luxury brands are also becoming more comfortable, allowing retailers to sell products online. Rolex's unfulfilled demand has created a gaping hole in the market, promoting exclusivity, making it an ideal time for different brands to fill the space. But there's more to that.
Fear in watch retailers or scope for growth?
Fear looms for retailers, who think they might be out of business if brands start selling products directly to customers. There's a conflict between brands and retailers over wanting more control over the product — distributing directly vs. earning a retail commission. The solution, notes the report, could be in retailers shifting focus away from more prominent brands to smaller and newer companies.
Smaller brands need retailer promotion, and it'd be easier to agree to talk to larger brands. The last thing that the American watch retail market needs, states the report, is inconsistency, and refining the brand-retailer relationship needs to be the industry's priority.