Personal accessories in Indonesia registered robust performance in 2024, supported by economic recovery post-pandemic, with GDP growth reaching 5.11% in the first quarter.
Personal accessories in 2024: The big picture
The Indonesian government’s active commitment to supporting local producers was key factor affecting the performance of the market for personal accessories during the review period. In October 2023, for example, the government placed import duties on four new types of products, including watches, which were taxed at 10%.
2024 key trends
In luggage, companies like TOOL and Baller are integrating smart features such as USB ports and detachable compartments into their products. In wearables, brands like Garmin are tapping into Indonesia's health-conscious consumer base with advanced fitness tracking features.
Competitive landscape
The competitive landscape in personal accessories in Indonesia remains dynamic, with local brands innovating to compete alongside global players, ensuring that consumers have a wide range of choices to suit their needs and budgets, offering more affordable options with guaranteed quality.
Retailing developments
Both premium and local brands, such as Alo, Carhartt, Buttonscarves and Noir Sur Le Blanc, have leveraged their presence by opening brick-and-mortar stores in high-end retail spaces. Innovative retail concepts such as pop-up stores are also in demand in urban cities like Jakarta.
What next for personal accessories?
Personal accessories in Indonesia is poised for steady growth over the forecast period, particularly in the mid-upper segments. Several indicators, such as a steady economic recovery post-pandemic, with expected GDP growth of 5-8% from 2024 onwards, support this projection.
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Overview:
Understand the latest market trends and future growth opportunities for the Personal Accessories industry in Indonesia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Bags and Luggage
- Jewellery
- Watches
- Writing Instruments
If you're in the Personal Accessories industry in Indonesia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Personal Accessories in Indonesia report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Personal Accessories in Indonesia?
- Which are the leading brands in Personal Accessories in Indonesia?
- How significant is tourism in determining sales and demand for Personal Accessories in Indonesia?
- How are COVID-19 and global recession impacting demand for Personal Accessories in Indonesia?
- In the wake of COVID-19, how soon can Personal Accessories be expected to recover? Where are the opportunities for growth now?
- Where is future growth expected to be most significant?
Personal Accessories in Indonesia
Personal accessories in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for personal accessories?
DISCLAIMER
Bags and Luggage in Indonesia
KEY DATA FINDINGS
Uptick of tourism boosts demand for luggage in Indonesia in 2024
Local players compete with international brands for share
Second-hand sales of luxury bags reflects consumer interest in sustainability and circular economy
Robust growth expected for bags and luggage, but consumers will remain price-sensitive
Gen Z shofts towards towards luxury brands, often buying second-hand
Surabaya is poised to become a key driver of growth in luxury handbags
Jewellery in Indonesia
KEY DATA FINDINGS
Global interest in Indonesian brands gathers pace in 2024
Sumber Kreasi Cipta Logam leads a highly fragmented landscape, with small local players proving adept at adapting to changing conditions
Lovary.id uses 3D technology to create unique jewellery pieces
Bright outlook for fine jewellery in Indonesia
Personalisation will remain a key trend in jewellery over the forecast period
Unisex diamond jewellery design is set to become increasingly popular in the years ahead
Traditional and Connected Watches in Indonesia
KEY DATA FINDINGS
Traditional timepieces continue to lose ground to connected watches in 2024
Indonesian government imposes new taxes on imported watches, but international players still lead the field
Gen Z shows a keen interest in luxury watches and shopping online
Connected watches will drive category growth, while second-hand sales of luxury watches are expected to increase over the forecast period
Active lifestyle marketing activities set to attract more customers
Emerging local luxury brand Regan Harney sets its sights on expansion across the region
Writing Instruments in Indonesia
KEY DATA FINDINGS
School and office activity continues to drive sales of writing instruments in Indonesia
Colouring enjoys healthy growth as Indonesians recognise the importance of drawing and colouring for children’s development
Early child education focuses on introduction to colouring
Demand for writing instruments will continue to grow despite shift towards digital devices
Faber Castell is set to maintain its lead thanks to ongoing innovation and events
Writing instruments will be threatened by digitalisation, but CSR programmes may help boost sales
The following categories and subcategories are included:
Personal Accessories
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- Backpacks
- Business Bags
- Crossbody Bags
- Duffel Bags
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- Non-Luxury Handbags
- Luxury Handbags
- Wallet and Coin Pouches
- Other Small Bags
- Luggage
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- Costume Jewellery
- Fine Jewellery
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- Basic Mechanical Watches
- Mid Mechanical Watches
- High Mechanical Watches
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- Basic Quartz Analogue Watches
- Mid Quartz Analogue Watches
- High Quartz Analogue Watches
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- Basic Quartz Digital Watches
- Mid Quartz Digital Watches
- High Quartz Digital Watches
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- Basic Quartz Analogue Watches
- Basic Quartz Digital Watches
- Basic Mechanical Watches
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- Mid Quartz Analogue Watches
- Mid Quartz Digital Watches
- Mid Mechanical Watches
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- High Quartz Analogue Watches
- High Quartz Digital Watches
- High Mechanical Watches
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- Basic Activity Watch (Analogue)
- Mid Activity Watch (Analogue)
- High Activity Watch (Analogue)
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- Basic Activity Watch (Digital)
- Mid Activity Watch (Digital)
- High Activity Watch (Digital)
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- Basic Smart Wearables
- Mid Smart Wearables
- High Smart Wearables
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- Colouring
- Markers and Highlighters
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- Graphite Pencils
- Mechanical Pencils
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- Ball Point Pens
- Fountain Pens
- Roller Ball Pens
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- Pen Inkwells and Refills
- Pencil Lead Refills
- Other Writing Accessories
Personal Accessories
Personal Accessories refers to a diversified group of personal products including Bags & Luggage, Jewellery, Watches and Writing instruments.
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This report originates from Passport, our Personal Accessories research and analysis database.
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