Watch sales pick up, but not to pre-Covid-19 levels

Published Sun, Nov 1, 2020 · 09:50 PM

Singapore

LOCAL retailers and suppliers of luxury timepieces have reported a pick-up in business with the re-opening of the economy, but it will still take a while before the sales return to pre-Covid-19 levels.

"The locals are buying more than before, but still not enough to make up for the big drop in sales to tourists and foreigners who won't be coming back till after the pandemic," says the Singapore country manager of a major Swiss watch brand, who asked not to be named.

Henry Tay, chairman of Singapore's largest watch retail chain The Hour Glass, has projected that leisure travel might not return till next year.

This has led retailers to target their marketing efforts at local buyers, according to industry observers. So while there's increasing focus on online selling, r…