Dublin, May 03, 2024 (GLOBE NEWSWIRE) -- The "United Arab Emirates (UAE) Watch Market Outlook, 2029" report has been added to ResearchAndMarkets.com's offering.
United Arab Emirates Watch Market is anticipated to grow with more than 4% CAGR from 2024 to 2029
Watches hold cultural significance in the UAE, symbolising tradition, elegance, and attention to detail. In a society that values heritage, watches become more than timekeeping devices; they embody a sense of identity and sophistication. Due to the UAE's large and affluent population and high level of disposable income, a sizeable portion of the market can afford luxury timepieces. The desire for upscale and rare watches among individuals with purchasing power drives the demand.
The United Arab Emirates is a popular travel destination that draws people from all over the world. Duty-free shopping boosts watch sales because travellers take advantage of tax-free possibilities to buy high-end watches, especially in locations like Dubai. Events like the Dubai Watch Week and other watch exhibitions contribute to the watch market's vibrancy. These platforms allow watch enthusiasts to explore new releases and limited editions and interact with representatives from renowned watch brands. The UAE has embraced digital technologies, and luxury watch brands are leveraging online platforms to reach a wider audience.
The convenience of online shopping, coupled with digital marketing strategies, contributes to the overall demand for watches. The UAE's diverse population, comprising locals and expatriates from various cultures, contributes to a varied demand for watches. Preferences for different styles, designs, and brands create a dynamic and diverse market.
The tech-savvy population in the UAE finds these features appealing, contributing to the popularity of quartz watches. Furthermore, quartz watches, particularly those designed for sports and outdoor activities, are popular in the UAE. Features such as water resistance, robust construction, and additional functionalities make quartz sports watches suitable for an active lifestyle. In terms of the end user, they are bifurcated by men, women, and unisex; among them, men lead the watch market. Wearing a watch has long been associated with cultural norms and traditions.
In many societies, including the UAE, the act of wearing a watch is often considered a customary and expected part of a man's attire, symbolising punctuality and responsibility. Watches are integral accessories that contribute to a man's overall fashion and style. In the fashion-conscious environment of the UAE, men may wear watches not only for their functional purpose but also as fashion statements that complement their attire. In some families and cultural traditions in the UAE, the passing down of watches from one generation to another is a significant practice. Men inherit or receive watches as gifts, fostering a connection to family history and heritage.
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
For more information about this report visit https://www.researchandmarkets.com/r/tr5e2o
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