The upheaval in the watch industry continues

While watch brands are currently reporting record sales figures, specialist shops are continually disappearing from the scene. In Basel alone, two important watch and jewelry retailers are closing this year.

The shopping street in Basel loses two respected traditional shops

The Gübelin company, which has been offering high-quality products on Freie Strasse since 1972, is leaving the city. As ever, luxury brand jewelry can be tried on in other Gübelin boutiques in Zurich, Geneva, Lucerne, Lugano and St. Moritz.

The Mezger company also announced the closure of its shop on Freie Strasse. After more than 60 years, the family-owned enterprise sees no future for its business.

Both Mezger and Gübelin sell top brands. They were an important contact point for watch lovers in Basel. Why is it that specialist watch and jeweler shops see no future when the demand for these products is growing?

The expertise and accessibility of the specialist shops in the shopping streets have long played a central role in the distribution of all watch brands. These shops made the brands accessible in the first place. The specialized staff was characterized by competent advice. Many customers appreciated this personal service in their trusted specialist shop. But retail trade has lost its importance.

It's no longer a secret: the rise in online sales has caused an earthquake in almost every industry. The watch industry is in a state of upheaval. Watch brands are now selling their products directly to the end customer and stepping on the gas in online trading. Large providers of multi-brand online stores are setting the pace. Brands are being challenged and finding it difficult to keep up.

This development isn’t over yet. Traditional specialty shops will continue to find it more and more difficult. The classic retail business profile no longer functions.

The future of retail in the watch industry

To get straight to the point: DuBois et fils regrets this development.

DuBois et fils has been selling our products through our website for about ten years, making us one of the first luxury brands to consistently go this route. It was clear to us even then: No one can stop e-commerce. Customers want to shop online. There is no way around it.

Nevertheless, we value the qualities of specialist shops and are convinced that they can also create added value in our modern world. The closure of specialty retailers would mean an enormous loss of competence. Boutiques have the potential to advise their customers in a brand-neutral manner and still provide important access to the many customers who want to see a product before they actually buy.

The retail concept from DuBois et fils

DuBois et fils has never forgotten the value of specialty stores. For this reason, we integrated the specialist trade into the online concept of our distribution right from the start. The result is a model of an eye-to-eye partnership.

This is how it works at DuBois et fils:

Global visibility for the retailer

All of our watches are limited editions. Each model is depicted with its limitation number in our online shop. It is noted whether a watch is available, is sold or is only available at a retail shop. The viewer interested in buying a retail-handled watch has the opportunity to contact the specialist shop directly over our website and to signal their interest in buying.

The sales market for the specialty retail shop is being globalized in this manner. Customers can find the retailer through our website. Important to remember is that the interest in our limited watch models increases with each piece sold. Specialty shops offering our watch models in their shop windows - models which are sold out elsewhere - are moving very much into focus. Way beyond their shopping street!

Referral of our customers to retailers

DuBois et fils is a small brand. Many customers come to our showroom in Basel or visit another point of sale to experience our timepieces face to face. It is of great value to us if we can refer these inquiries to competent specialty retail shops in the vicinity of the customer. With our partner in Berne, the Stähli Watch Studio, for example, this works with great success. The number of sales we have made speaks for itself.

Better investment management for the retailer

At DuBois et fils, the specialty retail shop doesn’t have to order large quantities and invest a lot. We share the risk and support the shop with a coherent assortment size for a high inventory turnover. The watches that the specialist shop hasn’t yet sold are also unsold watches for DuBois et fils and that is how they are displayed in our online shop (see above). Our aim is not to sell as many watches as possible to a retail store. Further, our inventory is transparent. Retailers can at all times see which of our models can be ordered. Individual models can also be ordered quickly and easily.

At DuBois et fils we see the upheaval as an opportunity for a rethink. We hope that both specialist shops and watch brands have recognized the signs of the times. A business that makes sense for the brands and the specialty trade can only happen when it’s possible to develop strategies that contain a mutually profitable co-existence between online sales and specialty retail.

We have to think in new ways, cut out old habits, approach each other innovatively and openly seek new solutions. DuBois et fils is ready!