Let’s face it; the “Swiss” watch industry is an old industry. Notice that I didn’t use the adjective “antiquated” to describe it. Companies have continually innovated throughout the centuries, crafting increasingly sophisticated and precise pieces.
But the environmental rate of innovation that of the macroeconomy, is even greater. There are cross-effects that come with the development of any technology. So let’s look at IWC’s most recent attempts to bolster its sales. Substance has never been an issue with IWC watches, but one can always improve the packaging–the presentation and the interaction between the buyer and seller.
Apple’s iPhone and iTouch are miraculous devices. They’ve sold in the millions, and IWC is now well-equipped to take advantage of these mobile platforms. Apps let the potential customer shop through the company’s entire collection. Beyond merely browsing, you can even simulate wearing the pieces. Moreover, the apps are free.
Should the IWC app program prove successful, look for other luxury watch manufacturers to move quickly in that direction. It is, and should be, the way of the future. For those individuals far from boutiques and retailers, this new technology offers them a chance to connect in a convenient way.
Beyond this, what’s next for the watch industry? What will be the effect of anticipated future technological innovations? It’s always difficult to predict the future, but let’s take a look at which might occur within the next several years. It’s very plausible that companies will utilise these wireless-capable devices in order to create e-boutiques. Specifically, watch dealers would benefit from putting their inventory on-line. One can imagine retailers taking this kind of app from IWC, and applying it across their entire selection. Maybe complementary apps would be developed that would allow easy cost comparisons with rival firms. Newer and better ways could be developed that would help match consumers with their pieces. This would come at the additional advantage of making sales without relying on salespeople.