US gem trade is carrying some interesting trends from 2017 into 2018. At the forefront of these is the evolving structure of how and where consumers, mainly millennials, buy their jewelry. While traditional retail jewelers’ sales are up, small studio artisans and designers are making even larger gains. Their success can be tied to their ability of communicating the story and inspiration behind the piece to the buyer. Younger consumers are attracted to a more personal approach to jewelry by the manufacturer, in this case the artist. Young professionals who spend less in jewelry compared to the previous generation are conscious of responsible sourcing and environmental issues. As a result, these concepts have been generating a big marketing space in the gem and jewelry industry. However, they are not light subjects and a good level of scrutiny continues. There were very few enterprises with transparent fair-trade practices about two decades ago. More followed the trend in recent years but we have seen it mostly being used in marketing more than in real practices. Fortunately, consumers are conscious enough to see the difference and support the real action rather than a marketing ploy. Gemworld has been warning of dependence on memo as a damaging factor in customary gemstone trading channels for years. The concept of memo is largely associated with the US market. And, since this concept is not widely accepted abroad, the wholesalers bringing goods to the US struggle to maintain the balance. Overreliance on memo by retailers has caused some wholesalers to simply refuse memo or at least strictly limited its terms. In Tucson, corundum remained a good seller for dealers, but we did observe a surge in interest for other gems sharing the space once dominated by corundum. Traditional gems, including garnet, emerald and other beryl, quartz, spinel and tourmaline are very popular and should continue as such. And with the price corrections in corundum, we project a sound rebound in demand for the mid grades of ruby and blue sapphire later in 2018. The March Hong Kong Show, however, did not meet with the previous expectations. The number of buyers was low but the dealers were fairly satisfied with sales thanks to the Chinese Yuan gaining 4% value against the US dollar. Some observers think that manufacturer’s ability to create traceability to the source for provenance helped the sales.
US gem trade is carrying some interesting trends from 2017 into 2018. At the forefront of these is the evolving structure of how and where consumers, mainly millennials, buy their jewelry. While traditional retail jewelers’ sales are up, small studio artisans and designers are making even larger gains. Their success can be tied to their ability of communicating the story and inspiration behind the piece to the buyer. Younger consumers are attracted to a more personal approach to jewelry by the manufacturer, in this case the artist. Young professionals who spend less in jewelry compared to the previous generation are conscious of responsible sourcing and environmental issues. As a result, these concepts have been generating a big marketing space in the gem and jewelry industry. However, they are not light subjects and a good level of scrutiny continues. There were very few enterprises with transparent fair-trade practices about two decades ago. More followed the trend in recent years but we have seen it mostly being used in marketing more than in real practices. Fortunately, consumers are conscious enough to see the difference and support the real action rather than a marketing ploy. Gemworld has been warning of dependence on memo as a damaging factor in customary gemstone trading channels for years. The concept of memo is largely associated with the US market. And, since this concept is not widely accepted abroad, the wholesalers bringing goods to the US struggle to maintain the balance. Overreliance on memo by retailers has caused some wholesalers to simply refuse memo or at least strictly limited its terms. In Tucson, corundum remained a good seller for dealers, but we did observe a surge in interest for other gems sharing the space once dominated by corundum. Traditional gems, including garnet, emerald and other beryl, quartz, spinel and tourmaline are very popular and should continue as such. And with the price corrections in corundum, we project a sound rebound in demand for the mid grades of ruby and blue sapphire later in 2018. The March Hong Kong Show, however, did not meet with the previous expectations. The number of buyers was low but the dealers were fairly satisfied with sales thanks to the Chinese Yuan gaining 4% value against the US dollar. Some observers think that manufacturer’s ability to create traceability to the source for provenance helped the sales.

Gem Market Pulse March 2018: Small Studio Artisans and Designers, Make Larger Gains in Jewelry Sales

Posted on March 15, 2018 by The Gemworld Staff

US gem trade is carrying some interesting trends from 2017 into 2018. At the forefront of these is the evolving structure of how and where consumers, mainly millennials, buy their jewelry. While traditional retail jewelers’ sales are up, small studio artisans and designers are making even larger gains. Their success can be tied to their ability of communicating the story and inspiration behind the piece to the buyer. Younger consumers are attracted to a more personal approach to jewelry by the manufacturer, in this case the artist. Young professionals who spend less in jewelry compared to the previous generation are conscious of responsible sourcing and environmental issues. As a result, these concepts have been generating a big marketing space in the gem and jewelry industry. However, they are not light subjects and a good level of scrutiny continues. There were very few enterprises with transparent fair-trade practices about two decades ago. More followed the trend in recent years but we have seen it mostly being used in marketing more than in real practices. Fortunately, consumers are conscious enough to see the difference and support the real action rather than a marketing ploy. Gemworld has been warning of dependence on memo as a damaging factor in customary gemstone trading channels for years. The concept of memo is largely associated with the US market. And, since this concept is not widely accepted abroad, the wholesalers bringing goods to the US struggle to maintain the balance. Overreliance on memo by retailers has caused some wholesalers to simply refuse memo or at least strictly limited its terms. In Tucson, corundum remained a good seller for dealers, but we did observe a surge in interest for other gems sharing the space once dominated by corundum. Traditional gems, including garnet, emerald and other beryl, quartz, spinel and tourmaline are very popular and should continue as such. And with the price corrections in corundum, we project a sound rebound in demand for the mid grades of ruby and blue sapphire later in 2018. The March Hong Kong Show, however, did not meet with the previous expectations. The number of buyers was low but the dealers were fairly satisfied with sales thanks to the Chinese Yuan gaining 4% value against the US dollar. Some observers think that manufacturer’s ability to create traceability to the source for provenance helped the sales.

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