The average expenditure per household on men's and boys' watches and jewellery in Canada was CAD 57.10 in 2023. The forecast indicates a gradual increase in spending from CAD 57.25 in 2024 to CAD 57.90 by 2028. The year-on-year growth is approximately 0.3% annually. This reflects a stable demand with a forecasted compound annual growth rate (CAGR) of about 0.35% over five years, highlighting steady interest in these luxury items.
Future trends to watch for include economic shifts impacting discretionary spending, digital and smart watch innovations, and changing consumer preferences towards sustainable and ethical jewellery. These factors could influence future expenditure patterns significantly.
