Summary

The watch market in Saudi Arabia experiences increased activity during special occasions, religious holidays, and cultural celebrations. Watches are often exchanged as gifts during these significant events. Larger watch sizes are popular in Saudi Arabia, with many consumers favouring timepieces with bold and substantial designs. Oversized and statement watches are particularly sought-after. Watches are often passed down as family heirlooms, carrying sentimental value and historical significance. This practice emphasises the importance of watches as timeless pieces that transcend generations. The watch market in Saudi Arabia has seen growth in e-commerce platforms, providing consumers with convenient and accessible ways to explore and purchase a diverse range of watches. The Saudi Arabian market appreciates traditional craftsmanship, and this is reflected in the demand for watches that showcase intricate detailing, fine materials, and meticulous workmanship. The preferences of the royal family and influential figures can impact trends in the Saudi Arabian watch market. The royal family's endorsement or choice of specific watch brands influences consumer preferences. The watch market in Saudi Arabia has witnessed growth in e-commerce platforms. Online shopping provides consumers with convenient access to a diverse range of watches, allowing them to explore and purchase from the comfort of their homes.

According to the research report "Saudi Arabia Watch Market Overview, 2029," published by Bonafide Research, the Saudi Arabia watch market is expected to reach a market size of more than USD 2 Billion by 2029. The Saudi Arabian market values fashion and personal style. Consumers often choose watches as accessories that complement their attire, and preferences may vary between traditional, modern, and luxury styles. The affluence of the population in Saudi Arabia, particularly in cities like Riyadh and Jeddah, contributes to a strong consumer base with the purchasing power to invest in luxury and high-end watches. The presence of exclusive boutiques from luxury watch brands and the organisation of watch-related events contribute to brand visibility and heightened consumer interest. Exclusive releases and events attract watch enthusiasts. The adoption of smartwatches is gaining traction in Saudi Arabia, driven by the integration of technology into timepieces. Smartwatches with features such as fitness tracking and connectivity appeal to tech-savvy consumers. The preferences and endorsements of the royal family and influential figures in Saudi Arabia can significantly impact consumer choices. High-profile individuals may influence trends and brand preferences. Some consumers seek personalised and bespoke options. Watches that offer customisation services, allowing individuals to tailor their timepieces, cater to those who value unique and individualised products. There is a preference for larger watch sizes in Saudi Arabia, with many consumers opting for bold and statement timepieces. Larger watches are often perceived as fashionable and make a visual impact.

Based on the product types, which are segmented into smart watches, quartz, mechanical, solar, and others, in Saudi Arabia, the mechanical watch leads the market, while mechanical watches carry cultural significance in Saudi Arabia. The craftsmanship and intricate engineering of mechanical movements align with the appreciation for traditional and artisanal values in the culture. Mechanical watches, particularly those from high-end and luxury brands, are associated with prestige and luxury. In a market where status symbols are highly valued, individuals may choose mechanical watches as a symbol of success and affluence. Saudi Arabian consumers appreciate the historical and traditional aspects of watchmaking. Mechanical watches, especially those with a rich heritage and history, appeal to individuals who seek a connection to the longstanding tradition of horology. Mechanical watches often adhere to traditional design elements, such as classic watch faces, hands, and materials. This attention to tradition aligns with cultural preferences in Saudi Arabia for timeless and classic aesthetics. In terms of end users, they are bifurcated by men, women, and unisex; among them, women are contributing the most to the market share. Watches have become important fashion and style accessories for women in Saudi Arabia. Women are increasingly viewing watches not just as functional timekeeping devices but also as elements that enhance their overall appearance and reflect their personal style. As more women in Saudi Arabia pursue education and career opportunities, the use of watches as professional accessories has gained popularity. Watches are seen as symbols of punctuality, organisation, and professionalism, contributing to their adoption in various professional settings.

According to the report, the product range is segmented into low-range, mid-range, and luxury; among them, low-range watches are significantly contributing to the market. Low-range watches are more accessible in terms of price, making them affordable for a broader segment of the population. This affordability factor can be crucial for individuals who are budget-conscious or prefer to allocate their spending on other priorities. Economic considerations play a role in the popularity of low-range watches. In periods of economic change or uncertainty, consumers might opt for more budget-friendly options as a practical choice. Low-range watches often feature simple and versatile designs that are well-suited for every day wear. Individuals who prioritise functionality and a casual aesthetic may prefer watches that align with their daily activities. Based on the distribution channel, they are bifurcated into retail stores, specialty stores, and online retail. Among them, online retail is a growing market. Saudi Arabia is going through a major digital revolution as a result of rising smartphone and internet usage. Online purchasing is becoming more and more appealing due to its ease as more people become digitally connected. Like consumers everywhere else, Saudi Arabian consumers frequently base their judgements on product ratings and reviews. Customers share their experiences on online platforms, which enable others to make well-informed decisions.

Considered in this report:
• Geography: Saudi Arabia
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report:
• Saudi Arabia Watch market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Products Types
• Smart watch
• Quartz
• Mechanical
• Solar & other
• Other

By Product Range:
• low- range
• Mid-range
• luxury

By End User:
• Male
• Female
• Unisex

By Distributing Channel:
• Retail store
• Speciality store
• Online retail

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the watch, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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