Jewellery

Gold jewellery demand in Malaysia is declining, ranking lowest in Southeast Asia despite cultural preferences. This trend, evident from 2012 to 2016, is influenced by global market shifts. However, the luxury tourism sector offers opportunities, with 13% of tourist spending on jewellery, particularly from Chinese visitors. As Malaysia targets increased tourist arrivals, retailers should focus on this market. Additionally, the rise of Millennials and Generation Z presents challenges, as they prioritize personalized experiences over traditional luxury. To thrive, jewellery retailers must adapt their offerings to align with the values of these younger consumers.