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Importance of online channels to consumers 

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Importance of online channels to consumers 

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Research: Consumers are using online channels as a means for research to gain information about products such as the materials used, and to gain inspiration, such as how other consumers are using the product.

Selection: Consumers are using social media platforms to read other users’ feedback and reviews, which is an important step before they make their product selection.

Purchase: online channels are a route to purchase itself

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1. Bricks-and-Mortar: traditional store

2. Multi-Channel Retailing

3. Omni-channel retailing, where the various retailing platforms work together to create an effective ecosystem in order to enhance the customer experience

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Product development is key in targeting millennials 

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Product development is key in targeting millennials 

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Smart Jewellery: allows users to stay connected, receive updates of incoming messages and to keep track of their daily activities.

Material Innovation: Millennials are typically experimental and hence they would not be afraid to try a piece of jewellery made of a new alloy or metal, rather than jewellery made of traditional precious metals like gold and sterling silver.

Contemporary Designs: The rise in demand for gold jewellery in contemporary designs is driven by societal changes and cultural activities.

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Millennials make up a key part of the working population of today, and offer strong potential, as their rise in purchasing power reflects their ability to purchase discretionary items, such as luxury goods and fine jewellery.

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Singapore: Southeast Asia’s most developed country 

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Singapore: Southeast Asia’s most developed country 

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6% growth: spending on Watches and Jewellery

US$27,187: Disposable Income per Capita (2016)

Gateway to Southeast Asia: with many international luxury brands present in the market.

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Middle income: Within Asia Pacific, Vietnam is expected to see the highest growth in the number of middle income households between 2015 and 2030 which indicates strong potential in the market for the consumption of discretionary items like luxury goods and fine jewellery.

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Asia continues to drive demand in fine jewellery

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Asia continues to drive demand in fine jewellery

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Demand for jewellery continues to be largely attributed to fine jewellery, which accounted for 87% of total jewellery sales in 2016.

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Jewellery growth remains resilient in tough times

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Jewellery growth remains resilient in tough times

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Jewellery is the most significant contributor to global sales of personal accessories, largely driven by retail sales of fine jewellery.

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Key fine jewellery markets, like India and China, continued to enjoy strong growth in 2016.

Emerging countries in Southeast Asia have strong potential for growth over the forecast period.

Indonesia is expected to see the fastest growth rate in Asia Pacific at 8%.

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Indonesia as a key area of growth in Southeast Asia. (with the fourth largest population in the world and the largest economy in Southeast Asia)

Indonesia’s middle income households to drive fine jewellery sales.