Gold Still Reigns, While Sub-Markets Take Different Paths
June 30, 2025 12:32 United States
NoahWise Insight
Cross-Border Insights Global Overview|Jewelry Category
Source: NoahWise Insight - Cross-Border Insights Global Overview - May 2025 Jewelry Category Sales Revenue
2025 Jun.
Gold
Still Reigns Supreme
Sub-Markets
Diverge in Different Directions
In recent years, the rise of Southeast Asia’s cross-border e-commerce market has drawn global sellers. Jewelry, a category combining
essential demand and emotional value
has shown regional and layered development trends in key markets such as Indonesia, Thailand, and the Philippines. Gold still rules, but segment trends have clearly shifted.
01
Indonesia Shopee：
Affordable-Luxury Jewelry Is Booming: Is Neck Jewelry Turning into Hand Jewelry?
In Indonesia’s Shopee affordable-luxury jewelry category, bracelets, bangles, and rings account for as much as
65%
which is significantly higher than necklaces.
Source: NoahWise Insight-Cross-Border Insights
Accessory Demand Structure under Conservative Aesthetics
Indonesia is the country with the world’s
largest Muslim population
about 87% of the total population. Under religious and cultural influence, especially in women’s daily wear, people commonly wear
the Hijab (headscarf)
which covers the head and neck, reducing the display space for necklaces. Long sleeves, long skirts, and loose outerwear (such as Abaya and Gamis) further reduce necklace visibility and wearing motivation, making hand accessories the main channel for aesthetic and personal expression. In handshakes, toasts, selfies, and content creation (short videos and livestream commerce),
hand accessories are more visible and more shareable
Therefore, bracelets and rings have become standard daily accessories among young Indonesian women. In the affordable-luxury trend, consumers are more willing to pay a premium for "unique design + everyday visibility."
02
AURORA Is a Shopee Bestseller
Thai Consumers Prefer High-Purity Gold
On Shopee Thailand, necklaces hold the highest share, and brand
AURORA leads strongly
with a focus on
96.5% high-purity gold.
Source: NoahWise Insight-Cross-Border Insights
AURORA: A "Whale" Brand
AURORA is one of Thailand’s most representative local gold jewelry brands. Founded in 2004 and headquartered in Bangkok, it relies on
high-purity gold (96.5%), strict pricing mechanisms, and deeply rooted
brand trust, and has long been a top choice for Thai consumers buying gold jewelry.
Core categories:
high-purity gold jewelry (96.5%)
wedding jewelry, children’s gold jewelry, zodiac gold pendants, etc. Sales network: nearly 300 offline stores, while actively expanding on
Shopee, Lazada, Facebook, TikTok, and other e-commerce platforms.
In Thailand, consumers are highly sensitive to gold purity, and
high purity means value retention and status symbol.
AURORA maintains 96.5% gold content across its products and emphasizes "value retention + inheritance" in marketing, matching Thai cultural traditions of family gold inheritance and wedding gifts.
AURORA has long used daily gold-price updates and publicly discloses same-day prices across platforms and stores, helping consumers form the perception of
"fair pricing, authentic purity"
This transparent operation greatly strengthens consumer loyalty.
03
Gold
A Second Savings Account for Filipinos
Compared with Indonesia and Thailand, the Philippine market appears more conservative. The average price of top-selling products is around RMB 500, and even on short-video platforms like TikTok,
traditional gold jewelry
still dominates.
Source: NoahWise Insight-Cross-Border Insights
The Philippines is the only predominantly Catholic country in Southeast Asia, with over 80% of the population being Catholic. Religion and family culture play a core role in daily life. In this context, gold jewelry is not only an accessory but also carries
multiple cultural meanings
During family milestones such as weddings, baptisms, birthdays, and Christmas, gifting gold jewelry is a blessing from elders to younger generations, symbolizing
"inheritance, blessing, and wealth protection"
Wearing small gold chains and bracelets at birth is common in Catholic families. Married women wearing gold jewelry are seen as
"stable, responsible, and family-supported"
a positive social image.
Although the Philippine economy has grown in recent years, per-capita income still remains in Southeast Asia at a
lower-middle level in Southeast Asia
and many households have a
"stability-first, risk-averse"
consumption mindset, directly affecting jewelry choices. Many families treat gold purchases as a savings method that can be quickly liquidated. Even with limited income, they still regularly buy gold rings and pendants.
Global expansion is not only about products, but also about cognition. Behind every market lies a
different trust system
Brands that understand these "irrational factors" are the ones with true long-cycle competitiveness.
About NWi
Since 2023, NWi (NoahWise Insight) has expanded into overseas data services. We now cover major global e-commerce platforms including Amazon, Lazada, Shopee, and TikTok, tracking full-category market sales performance across nearly 30 country sites in Europe, the Americas, and Southeast Asia. We help brands deeply understand domestic and overseas market differences, identify growth opportunities in each market, and plan global expansion.
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