Luxury Jewellery in Indonesia

PROSPECTS

Opportunities exist within luxury fine jewellery

Indonesian consumers tend to like to show off when it comes to luxury jewellery, but this is not the only reason for purchasing luxury fine jewellery. Indonesian consumers often purchase jewellery as an investment that can be sold in the future.

Local independent jewellers drive sales of luxury jewellery

Luxury jewellery in Indonesia recorded healthy growth in 2019. The main driver of growth in luxury jewellery at the end of the review period was the rising number of local luxury jewellers, such as Clarissa Kwok, From and Rockologist.

Luxury costume jewellery offers greater flexibility at more affordable prices

With young women increasingly keen to keep up with the latest fashion trends luxury costume jewellery continued to see strong growth in 2019. With more women joining the workforce they not only have their own money to spend but they also have more opportunities to wear jewellery.

COMPETITIVE LANDSCAPE

International brands dominate

International brands dominate luxury jewellery in Indonesia. Consumers have a very positive perception of international brands, viewing them as offering higher quality craftsmanship and as such they typically hold their value well.

Internet retailing records steady growth in 2019

Internet retailing witnessed healthy growth in 2019, albeit from a low base. During the review period, there were several internet-based luxury e-commerce sites available, such as Matsuri, Bobobo and Reebonz.

Suburban development likely to result in more chained jewellery stores opening

Sales of luxury fine jewellery are higher in suburban areas of Indonesia with consumers in these areas more likely to purchase these products as an investment. In the suburbs there is a wider presence of independent fine jewellery stores with these also often benefiting from customer loyalty.

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