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Watches - Peru

Peru
  • The revenue generated in the Watches market in Peru amounted to US$317.85m in 2025.
  • It is projected that the market will experience an annual growth rate of 8.22% from 2025 to 2029 (CAGR 2025-2029).
  • In global comparison, United States generates the highest revenue in the Watches market, amounting to US$22bn in 2025.
  • When considering the population figures, the per person revenue in Peru is US$9.08 in 2025.
  • By 2025, it is expected that 69% of the sales in the Watches market will be attributed to Non-Luxury.
  • Peruvian consumers are increasingly gravitating towards luxury Swiss watches for their timeless craftsmanship and prestige.

Definition:

The Watches market covers different types of devices used to indicate or measure time that are either worn around the wrist or in a pocket. Both analog and digital watches are included.

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Additional information:

The market comprises revenues and average revenue per capita. The key players in the market are leaders in their respective segments and are known for their innovative products, brand reputation, and extensive distribution networks. For more information on the data displayed, use the info button right next to the boxes.

In-Scope
  • Watches
  • Pocket watches
  • Analog and digital watches
Out-Of-Scope
  • Watch parts
  • Watchbands
  • Handmade watches

Revenue

Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update:

Source: Statista Market Insights

Most recent update:

Source: Statista Market Insights

Key Players

Most recent update:

Source: Statista Market Insights

Sales Channels

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Source: Statista Market Insights

Product Types

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Source: Statista Market Insights

Global Comparison

Most recent update:

Source: Statista Market Insights

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).

Key Market Indicators

Notes: Based on IMF, World Bank, UN and Eurostat

Most recent update:

Source: Statista Market Insights

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Smartwatches - statistics & facts

Keeping records of your fitness activities and answering calls or messages on your wrist? Nowadays, these are just a few of the many functions that smartwatches can perform, as wearable devices combining the functionalities of smartphones and fitness trackers. Indeed, smartwatches are among the most popular wearables, with new and advanced models always coming to the market. In 2024, the global smartwatch market was forecast to generate a revenue of almost 50 billion U.S. dollars, a value expected to increase further in the future.
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