The Luxury Watches & Jewelry Market is anticipated to generate revenue of US$9.39 billion in 2024.
An annual growth rate (CAGR 2024-2029) of 9.17% is expected, leading to a projected market size of US$14.56 billion by 2029.
China is forecasted to contribute the most revenue, with an estimated market size of US$3,341.00 million in 2024.
The number of users in the Luxury Watches & Jewelry Market is projected to reach 494.2 million by 2029.
User penetration is predicted to be 6.1% in 2024 and is expected to rise to 6.8% by 2029.
The average revenue per user (ARPU) is projected to be US$24.42.
Revenue
Notes: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war.
AVERAGE REVENUE PER USER
Sales Channels
ONLINE & OFFLINE SPLIT
MOBILE/DESKTOP SPLIT
USERS
PENETRATION RATE
Global Comparison
REVENUE COMPARISON
USER PENETRATION COMPARISON
Methodology
Data coverage:
The data pertains to B2C enterprises and is based on the sale of physical goods through digital channels to private end consumers. This includes purchases made via desktop computers (including notebooks and laptops) and mobile devices (such as smartphones and tablets). The eCommerce market does not include digitally distributed services (refer to eServices), digital media downloads or streams, digitally distributed goods in B2B markets, or the digital purchase or resale of used, defective, or repaired goods (reCommerce and C2C). All monetary values represent annual gross revenue and exclude shipping costs.
Modeling approach / Market size:
Market sizes are calculated using a combination of top-down and bottom-up approaches, tailored to the specific rationale of each market segment. To evaluate markets, we rely on annual financial reports from leading companies and industry associations, third-party studies and reports, survey results from our primary research (such as the Statista Global Consumer Survey), data on shopping behavior (like Google Trends and Alibaba Trends), and performance metrics (such as user penetration and price/product). Additionally, we incorporate key market indicators and data from country-specific associations, including GDP, consumer spending, internet penetration, and population. This comprehensive data allows us to estimate the market size for each country individually.
Forecasts:
In our forecasts, we utilize a variety of forecasting techniques, chosen based on the specific behavior of each market. For instance, the S-curve function and exponential trend smoothing are particularly effective for predicting digital products and services due to the non-linear nature of technology adoption. The primary factors driving these forecasts include GDP per capita, consumer spending per capita, internet penetration, and population.
Additional Notes:
The market is reviewed and updated biannually to account for changes in market dynamics. The effects of the COVID-19 pandemic are evaluated on a country-specific basis. Similarly, the impact of the Russia/Ukraine conflict is also assessed at a country-specific level.
