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The latest from the Hong Kong Jewellery fair

The September Hong Kong Jewellery & Gem Fair, organised by UBM Asia was inaugurated at AsiaWorld Expo.

This spectacular Fair occupies more than 135,000 square metres of exhibition space spanning two world-class venues – the AsiaWorld-Expo (AWE) and the Hong Kong Convention & Exhibition Centre (HKCEC). Product displays are according to category and tailored to buyer’s purchasing needs. The AWE houses exhibitors of raw materials including diamonds, loose gemstones and pearls, while the HKCEC houses those exhibiting fine finished jewellery, packaging, tools and equipment. Fair organiser UBM Asia Ltd expected more than 52,000 buyers from around the world to create busy traffic in the two venues’.

The September Fair prides itself on being an effective networking platform where one can forge valuable personal contacts in an exclusive business atmosphere and discuss with key players the latest developments and trends in jewellery markets around the world.

Looking around the fair I noted some key trends; It’s pearls, but spiced up by the designers’ imaginations to shake off their classic image and be reborn in XXL versions, or mounted on chic, tribal rings.

Demand for coloured and semiprecious stones was steady, and smaller diamond fashion jewellery was also selling well. The market trend is leading towards accessible diamond jewellery. Jewellery is no longer reserved for special occasions and events. Millennials use it as an expression of themselves in an everyday setting with an emphasis on meaning and quality.

De Beers Annual Diamond Report

In correlation with the Hong Kong fair, De Beers have released their annual diamond report. They have put an emphasis on the shift of women and the role they play in society. The De Beers report comments on three major changes that has impacted diamond sales with females buying 90% of all diamonds worldwide.

Read the full report here

First, relationship dynamics are experiencing a transformation. Partnerships are now much more about the growth of the two equal individuals, as much as they are about the growth of the partnership itself.

Second, women now have much more spending power and a much higher degree of self-purchase than before.

And third, the way in which women perceive themselves is evolving. Womanhood is becoming more closely associated with a sense of strength and empowerment.

These changes in the profile of the female consumer have direct impacts on businesses in the diamond sector – and some of the traditional thinking about diamonds will need to be reassessed. While the notion of love remains universal and powerful, and the core attributes of diamonds remain valued, there is an increasingly wide spectrum of meaning for diamonds. As well as commitment, they also symbolise emotions such as joy, optimism, pride and confidence.

Equally, while traditional diamond selling occasions – such as engagement and anniversaries – remain very important, successful diamond marketing will increasingly need to reflect a range of significant moments in one’s life. This may include a new job, memories of a happy holiday or ‘just because’, and should be connected to the experiential element of lives and relationships.

The jewellery industry is fascinating, both locally in Australia and internationally. Keeping abreast of current trends and taking time to understand changes in the market make a huge improvement to your business.