Independent Selling Strategies

[TimeTexas]

Saw several posts on IG today complaining about the latest Ming release and their "drops". And it got me thinking, what is a successful sales strategy for independents?

Limited supply limits options. And independents have seen demand increase significantly over the last couple years and we've seen independent watchmakers struggle with the best method to handle the increased demand.

With the current market uncertainty, it seems there may be a bit of a respite as demand slows down. But it will come back and probably even stronger. Independents are growing in popularity and the supply simply isn't there to meet the demand. And that puts watchmakers in a difficult situation of having to decide the best strategy for making watches available.

Waiting lists continue to grow until the watchmaker simply has to stop taking orders. Drops are a hassle and frustrating and alienate potential buyers. Preferential treatment of previous clients limits access to new clients. Clubs/collaborations are becoming limited and exclusivity also limits access to new clients as most members are existing clients.

I'll probably follow up once I have more time to think about it. But high-end watchmaking labor is relatively limited and it seems demand will continue to outstrip supply. Maybe this impending slowdown will let the watchmaking schools catch up and the labor force will expand to meet the demand.

Part of the beauty of independent watchmaking is that it is limited, and not something available to anyone and everyone. But watchmakers need to balance that with growing their business, expanding their client base, reaching new customers, and ensuring long term success of their business.

[Ed the Grocer]

I don't know what could be the sale strategy for an independent.

Waiting 8 to 10 years for a Kukuchi Kakagawa MURAKUMO is insane.

I was lucky to order a Ming 37.05 Moonphase last december, without being a previous customer, but now, still waiting for the delivery ( perhaps in october...) I don't know if I really want this watch or not. It's too long !

 

[TimeTexas]

@Ed the Grocer agreed, the Ming strategy is no longer working. It is frustrating too many people. They should be in a position where they don't need the money up front for their watches, not to mention the ordering process is a pain. I continually missed until the GMT and the latest 5th anniversary. But the waiting is difficult and there are other watches I may want more at this point. We'll see when they finally come in.

I'm hopeful this forum eventually assists in brands identifying a select group of people truly interested in the brand and can provide a way for them to both ensure their existing customers have the opportunity to buy and also then make enough available to gain new clients as well. There is a balance they have to strike and it will only become more difficult as the independents continue to grow in popularity.

[TimeTexas]

Somewhat related to this is King Flum's latest blog post on Screw Down Crown. 

Check out the entire post here:

ScrewDownCrown