Market Insights Consumer Accessories Watches & Jewelry

Watches - Fiji

Fiji

In Fiji, the revenue generated in the Watches market is estimated to be US$3.90m in 2024.
According to projections, this market is expected to grow at an annual rate of 3.12% from 2024 to 2028 (CAGR 2024-2028).
When comparing the global market, in China stands out as the country with the highest revenue in the Watches market, reaching US$19,020m in 2024.
This indicates the significant impact of the Chinese market on the global watch industry.
In terms of per capita revenue, each person in Fiji is expected to contribute US$4.14 to the Watches market in 2024.
This figure represents the amount of revenue generated per individual in relation to the total population.
Looking ahead to 2024, approximately 84% of sales in the Watches market will be attributed to Non-Luxury.
This suggests that the majority of revenue in the industry will come from non-luxury watch brands and products.
Fiji's increasing interest in luxury timepieces reflects the nation's growing affluence and desire for high-end fashion.

Key regions: Worldwide, Canada, Spain, United States, United Kingdom

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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).