I live in Holland, like UK most small quality shops are closing down with companies like Bax and Key Music taking over.
Bax is not like Thomann. Thomann is a family owned business that became huge through performance, Bax is small in comparison and has a lot to prove over a long period of time before a comparison can me drawn.
I order at Bax now and again, from a EURO perspective they are not cheaper than Thomann; I expect the cost benefit will be short lived if the GBP to EURO changes. Forex is currently a big part of the low price points and they want to try and carve out a niche for themselves in Europe which they can only do in so many ways.
Personally I think they are ok, no more no less and prefer Thomann. More choice, better CS, longer reputation, more in stock etc etc.