As another summer holiday season starts, watch houses in the country are hopeful of increased volume of business as most expatriates travel to their home countries.
Once, wrist watches used to be a prominent piece of gift, they carry for family members and friends when travelling home. It was a regular item for most of the travellers -- the time and status symbol. However, of late, the charm has been diminished as the demand for these elegant times pieces is low due to various reasons.
Faizal K, a watch trader at Doha Souq who has been selling watches for more than 25 years says that times have changed and people are not buying watches as they used to some 10-15 years back.
“I used to have regular customers who carry several pieces of watches when they travel home. Some even buy almost a dozen as a gift for people back home. Now the number of people who visit our shop has come down. Even those who visit the shop, buy one or the maximum two. Such is the change in the industry now,“ Faizal told Gulf Times.
He attributes the decrease in the volume of sale to several reasons. “Now people do not use watches for the primary purpose of checking time,“ explained, Faizal. “With the advancements in technology and the dominance of mobile phones, watches are no more a factor in checking time. Another reason is, many youngsters do not prefer to use watches at all. Again, many among the modern generation prefer smart watches of popular tech giants. They do not have the passion for other types of watches. All these have brought watch sales down.”
Mohammed Hanifa, a longtime Doha resident recalls that there was a time when he carried a number of watches to be presented to his family members and friends. “In the 1990’s watches used to be the major gift item.
There used to be big demand form home for watches especially some popular brands at that time. For every vacation, I used to carry five or six watches for people back home. It used to give me trouble at times at the customs clearance at the airport as the officials sometimes suspected my intentions. Still I continued to buy good number of watches to be gifted to my dear and near ones,” said Hanifa.
Hanifa, who is leaving Qatar for good this month, said that the last few years, he has not bought any watches to be gifted. “Now my family members are asking only for mobile phones and such other gadgets.
The times have changed a lot. However, as I leave Qatar, I would buy a good quality watch for myself, a souvenir for over three decades of life in Qatar,” he said nostalgically.
Robin Philip, manager of a watch house in a leading mall says that apart from the lower demand, there are several others factors that affect watch business. He noted: “There is tight competition in the field as lots of retail watch shops have come everywhere. Every mall you go, you will find a number of watch shops. Then the margin of profit is small as there are several brands and replicas available in the market at cheaper rates. All these have caused to bring down the profit margin.”
“Most people are looking at affordable quality watches and some of the popular brands fit into their pocket. They are looking for watches in the category of QR 100–200 range. In these categories, we get very less profit,” he pointed out.
For Ajaykumar, an executive bachelor, watches are not yet a priority. He remarked: “Last time when I bought a mobile phone, I got a smart watch of the company as part of the package. So I don’t need another watch currently. But I do have a plan to buy a luxury watch sometime later which would fit my job profile. Otherwise, I don’t think that watches are necessary for me anymore.”
Salil who runs a number of shops at various locations in Doha feel that watch houses have to adapt to the trends in the industry quickly to sustain in a highly competitive market.
“We have a number of shops in Qatar and we manage to hold on with the volume of sale. Currently quartz watches with the digital dial is in fashion. Many of the customers are looking for a variety look in watches such as world clock and other features. So we have to keep up with these trends,” he stated. Salil noted that the cost of running the business is going up day by day and it becomes quite difficult get good profit. “What is happening is the expenses for running the shops is going higher while our sales are not improving accordingly.
The profit margin from the sale is also less due to intense competition in the field. But still we are managing to cater to our customers with quality products and at affordable prices,” he added.
