Market Insights Consumer Accessories Watches & Jewelry

Watches - Burkina Faso

Burkina Faso

in Burkina Faso, a country in West Africa, is also part of the Watches market.
In 2024, the revenue in this segment amounts to US$87.01m for Burkina Faso.
According to projections, the market is expected to grow annually by 9.77% from 2024 to 2029, representing a compound annual growth rate (CAGR).
When compared globally, in the United States generates the highest revenue in the Watches market, reaching a staggering US$21,150m in 2024.
In terms of per capita figures, in Burkina Faso generates US$3.65 of revenue per person in the same year.
Looking ahead to 2024, it is estimated that 100% of the sales in the Watches market will be attributable to Non-Luxury for Burkina Faso.
Despite the limited purchasing power in Burkina Faso, the demand for luxury watches remains strong among the wealthy elite.

Key regions: Germany, United Kingdom, Worldwide, India, Europe

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).