Market Assessment
The study integrates60 structured interviews(qualitative deep dives) and300 online surveys(quantitative validation) with stakeholders across the luxury watch market — including retailers, consumers, and industry experts. Coverage spans major cities in KSA, including Riyadh, Jeddah, and Dammam.
| Customer Cohort | Description | Proposed Sample Size |
|---|---|---|
| Luxury Watch Retailers | Stores specializing in high-end watch brands | Sample Size: 80 |
| Online Luxury Watch Sellers | Brands selling luxury watches through e-commerce platforms | Sample Size: 50 |
| End Consumers | Individuals purchasing luxury watches for personal use | Sample Size: 100 |
| Watch Collectors | Enthusiasts with a focus on luxury watch collections | Sample Size: 70 |
| Corporate Buyers | Companies purchasing luxury watches for gifting | Sample Size: 50 |
| Industry Experts | Analysts and consultants in the luxury goods sector | Sample Size: 30 |
Total Respondents:360 (60 structured interviews + 300 surveys)
The KSA luxury watch market is driven by increasing disposable income, rising demand for luxury goods as status symbols, the growth of e-commerce platforms, and the expansion of retail outlets in high-end shopping districts.
Challenges include high import duties and taxes on luxury goods, the prevalence of counterfeit products affecting brand reputation, economic fluctuations impacting consumer spending, and limited awareness of niche luxury brands among consumers.
Opportunities include a growing interest in sustainable luxury products, potential collaborations with local artisans, increasing tourism boosting luxury watch sales, and the expansion of online marketplaces for luxury watches.
Current trends include a shift towards smart luxury watches, personalization and customization options, the rise of the pre-owned luxury watch market, and an increased focus on brand storytelling and heritage.
Government regulations affect the KSA luxury watch market through importation laws, consumer protection against counterfeit goods, tax incentives for luxury brands establishing a local presence, and compliance with international trade agreements.
