Central Department Store (CDS) and its major watch suppliers are planning various strategies to stimulate customer spending for the rest of the year after watch demand grew steadily in the first seven months.
Narun Thamavaranukup (left), managing director of PMT The Hour Glass, Nidsinee Chirathivat, executive vice-president for merchandising of Central Department Store, and Krist Chatikaratana, executive director of Cortina Watch (Thailand) show some of the new models.
New watch brands and major marketing campaigns will be gradually introduced, particularly at the 14th Central International Watch Fair 2012 from Aug 29 to Oct 2.
Nidsinee Chirathivat, the executive vice-president for merchandising at CDS, said the company is spending 50 million baht to arrange its 14th watch fair on 2,500 square metres of space on the third floor of Central Chidlom.
At this year's fair, over 180 world-class luxury watch brands worth more than 5 billion baht will give 10-50% discounts.
There will be special promotion campaigns with 11 credit-card operators and buyers will receive cash coupons worth up to 130,000 baht when making a purchase of 3 million baht.
CDS expects sales of about 550 million baht from the 35-day fair.
"Our wristwatch sales in the first half grew by 10%, and we're confident of achieving strong wristwatch sales until the end of 2012," she said.
Mrs Nidsinee added that there is high demand for luxury watches, followed by models in the high-end and mid-range categories. Factors contributing to its sales growth are attractive promotion campaigns and changing customers' attitude about timepiece purchases as an investment and collectibles rather than accessories. A stable political situation also helps.
Sirinart Ruangsuwandej, the brand manager for Maurice Lacroix/Graham at DKSH (Thailand) Co, said the company will introduce two new luxury and design watch brands, Davidoff and Ferragamo, at the Central Watch Fair.
There are only 100 pieces of the special Ferragamo limited edition worldwide and five of them will be at the fair.
At the same time, the company will sell Davidoff accessories. Additionally, it is looking to open shop for the Maurice Lacroix watch brand at Central Department Store for the first time.
Nonthiwat Prabhananda, managing director of Macrorich Metro Co, the distributor of Alpina and Frederique Constant brand, said sales of the company's watches in the first six months grew by 40% to 27 million baht. The huge growth came from the right product merchandising, higher marketing budgets and events, which bring them closer to customers.