KUALA LUMPUR: Tomei Consolidated Bhd
foresees that trade-in gold jewellery will experience a continuous uptrend as consumers take the opportunity to renew their jewellery collections for the upcoming festive season, supported by stronger gold prices.
Its group managing director, Datuk Ng Yih Pyng, said that as gold prices continue to soar, the trade-in activities are also increasing in tandem.
"When prices are low, people can buy (gold) cash and less trade-in, but when the price continues to go up, you see more people trade-in for new jewellery. That will drive sales,” he told reporters after the launch of its 2026 Hari Raya collection with the theme, "Pulang, the Joy I Carry Home”, here today.
Ng stated that buying gold has become a cultural norm over the years, with many customers purchasing it for their children and using these goods for celebrations such as weddings and birthdays.
"One thing about our business is, we have a very big base. What do you mean by base? A lot of our customers have already got gold. Over the years, from a young age, you have been buying gold for your children.
"Your children, when they grow up, will already have some gold as a base. They can trade it in, buy new items and top up a small amount of money. It is not as though they have to pay for an entirely new item. Even if gold prices have risen, the value of what they already own would also have increased. As a result, the additional top-up required would not be much,” he said.
Ng stated that approximately 20 per cent of sales have come from the trade-in trend over the past few years, and this trend is expected to increase further as gold prices rise.
"As a group, it used to be about 20 per cent over. It will increase to, for Raya, normally 30 to 40 per cent. I foresee that this trend will continue, but even higher,” he said.
Currently, approximately 60 per cent of its customer base is aged between 25 and 50 years old.
"We appeal to the younger market while also considering our long-time customers. Our products are designed for different needs, so we continue to innovate.
"This year, we have many plans and several product launches lined up,” said Tan, adding that Tomei has been a household name for 58 years, recognised as a trusted brand.
The company has transformed and updated its designs to meet consumer demand, he said. - Bernama
