Demand for high-end luxury watches is experiencing a strong resurgence

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Major high-end and luxury watch retailers in Qatar are witnessing a strong recovery in the industry with an increase in sales over the past three months, we learned.
Speaking to Gulf Times, an employee of a major watch retailer in the country said May, June and July saw strong demand for high-end watches.
He said one of their stores in Doha achieved sales of over QR 900,000 in a month, roughly the same amount during the pre-pandemic period.
“We got 150,000 QR in four days, so the appeal of luxury items is still there, and with most countries opening their borders again, people want to travel and wear new watches,” he said. he said, expressing his optimism that such a trend will continue. In the coming months.
According to the employee, many customers also take advantage of various promotions and special offers, in addition to the regular discounts given by sellers.
He noted that a 10-15% discount remains attractive to customers and that offering up to 20% makes it more attractive to buyers of luxury pieces. Select stores are offering up to 25% off selected items.
As the FIFA World Cup Qatar 2022 approaches, the employee said he expects total sales (all outlets) to exceed pre-pandemic levels within months. coming.
“The growing number of visitors from neighboring GCC countries is a big factor because they are all ‘premium shoppers’, which means they really spend a lot on luxury items, and we’ve seen that over the past few years. last two months, and until the third week of July,” he said.
This view was shared by an employee of another distributor of popular watch brands, which also operates several stores across the country.
Despite growing interest in smartwatches, he said premium, high-end watches have retained their appeal for many customers, including young professionals.
He said luxury brands have found a way “to regain customer interest in their products” amid the Covid-19 pandemic, many of which have leveraged the internet and social media for their marketing and promotions.
Like gold and other types of jewelry, the employee said people are also particularly looking for watches that retain value over time. “Nearly all of our branches saw record high-end watch sales over the past two Eid holidays, regardless of luxury brand.”
“We hope to receive more deliveries soon to meet the ever-increasing demand and expectations of our customers,” he said.

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