Watches & Jewelry - Gabon

Gabon

in Gabon, a country Central_Africa, is experiencing significant revenue growth in the Watches & Jewelry market.
In 2024, the revenue reached an impressive amount of US$35.64m.
This market is projected to continue expanding at an annual rate of 6.21%, based on the Compound Annual Growth Rate (CAGR) from 2024 to 2029.
When compared to global figures, it is worth noting that in China dominates the market, generating a staggering revenue of US$134bn in 2024.
However, in relation to the total population, in Gabon stands out with per person revenues of US$14.34 in the same year.
Looking ahead to the future, by 2024, nearly all sales in the Watches & Jewelry market, approximately 79%, will be comprised of Non-Luxury.
This indicates a shift in consumer preferences towards more accessible and affordable options.
Despite its small market size, Gabon has a growing demand for luxury watches and jewelry among its affluent population.

Key regions: Europe, Worldwide, France, Canada, United Kingdom

Market

Region

Region comparison

Currency

Methodology

Data coverage:

The data encompasses B2C enterprises. The figures are based on consumer spending on accessories that comprise of Watches & Jewelry and Luggage & Bags that are produced for private end customers for both offline retail and online retail.

Modeling approach:

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 independent databases and third-party sources, historical developments, current trends, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, 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, the exponential trend smoothing is well suited for forecasting the Accessories market with projected steady growth. 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).