Market Insights Consumer Accessories Watches & Jewelry

Watches - United States

United States

In the United States, the revenue generated in the Watches market is projected to reach US$21.15bn in 2024.
According to market forecasts, this sector is expected to experience an annual growth rate of 2.41% (CAGR 2024-2029).
When compared globally, the highest revenue in the Watches market is generated in the United States, with an estimated US$21,150m in 2024.
Taking into account the population figures, the per person revenue in the United States is projected to be US$61.88 in 2024.
Furthermore, it is anticipated that by 2024, 65% of the sales in the Watches market will be attributed to Non-Luxury.
The United States has seen a surge in demand for luxury watches, with consumers increasingly valuing craftsmanship and exclusivity.

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

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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).