Watches & Jewelry - Chile

Chile

In Chile, the revenue generated in the Watches & Jewelry market is projected to reach US$496.40m in 2024.
It is anticipated that this market will experience an annual growth rate of 5.30% between 2024 and 2028 (CAGR 2024-2028).
When comparing this to global figures, in China stands out as the country with the highest revenue in this segment, reaching US$95bn in 2024.
Taking population into account, the per person revenue in Chile is estimated to be US$25.25 in 2024.
Additionally, it is expected that 82% of sales in the Watches & Jewelry market in Chile will be attributed to Non-Luxury by 2024.
Chilean consumers are increasingly gravitating towards artisanal and locally-made jewelry, reflecting a growing appreciation for unique and culturally-inspired designs.

Key regions: France, United Kingdom, Hong Kong, India, Canada

Market

Region

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Currency

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on accessories, including watches and jewelry, as well as luggage and bags. that are produced for private end consumers. Retail sales through both offline and online sales channels are included.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, market data from third-party sources (e.g., independent databases), historical developments, current trends, as well as survey results from our primary research (e.g., the Statista Consumer Insights Global survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and consumer spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, exponential trend smoothing is well suited for making forecasts about the Accessories market, which is projected to grow steadily. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).