The majority of luxury watch sales in the United Arab Emirates are fuelled by high-income tourists. The slow return of these tourists negatively impacted growth in 2021, although sales expected to get close to 2019 levels by 2022.
International brands continue to lead watches in the United Arab Emirates in 2021. There are very few products made domestically, because there is little infrastructure or structural support for local manufacturing.
Prior to the COVID-19 pandemic, luxury pre-owned marketplaces such as The Luxury Closet were a growing threat to established luxury department stores and watch specialists. However, but the momentum sustaining the second-hand trend was brought to a halt by consumers’ anxieties over cleanliness.
One trend that is expected to grow over the forecast period is the launch of more concept stores. For example, in 2021 Majid Al Futtaim launched That Concept store.
The forecast period will see players engaging in a combination of physical and digital experiences to offer consumers a seamless omnichannel journey. In the UAE, overall e-commerce is growing sales strongly and is expected to maintain this robust growth over the forecast period.
The popularity of smartwatches and fitness trackers continues to increase, with technology-led devices offering improved functionality and more advantageous pricing as competition intensifies. Young adults are therefore becoming more likely purchase devices such as Apple Watch, Samsung Gear and Fitbit.
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This report originates from Passport, our Watches research and analysis database.
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