Watches & Jewelry - Ivory Coast

Ivory Coast

In 2024, the revenue in the Watches & Jewelry market in Ivory Coast amounts to US$400.70m.
It is projected that the market will experience an annual growth rate of 6.03% from 2024 to 2029, according to the compound annual growth rate (CAGR).
When comparing the global market, it is notable that in China generates the highest revenue in the Watches & Jewelry market, with a total of US$134bn in 2024.
To put the revenue into perspective, in 2024, each person in Ivory Coast generates per person revenues of US$13.54 in the Watches & Jewelry market, considering the total population figures.
Looking ahead to 2024, it is anticipated that 98% of the sales in the Watches & Jewelry market will be attributed to Non-Luxury.
This indicates that the majority of the revenue in this market segment will come from non-luxury products.
The demand for luxury watches and jewelry in Ivory Coast has been steadily increasing due to the growing middle class and their desire for status symbols.

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

Market

Region

Region comparison

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).