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News

  1. Q1 Gold Jewellery Demand Soft, Says WGC
  2. Jewellery Buying Groups Formed New Global Alliance
  3. Singapore to Host Jewellery & Gem World 2022
  4. ‘Wonder Woman’ Gal Gadot Premiered in Tiffany’s 2022 High Jewellery Collection
  5. Christie’s to Auction ‘The Light of Africa’ for $18M in June
  6. New Board of Directors were elected to Jewellery Exporters Association of Turkey
  7. Oroarezzo back with Première Competition
  8. ‘De Beers Blue’ auctions US$57.5M at Sotheby’s
  9. CTF launches Mother’s Day collection
  10. Jewelers of America Announces The 2022 CASE Award Winners
  11. De Beers: Diamond Businesses Staying Cautious About Business Expectations
  12. Synthetic Alexandrite Pioneer David Patterson Dies at 89
  13. 205 CARAT FANCY INTENSE YELLOW DIAMOND GENEVA MAGNIFICENT JEWELS | 11 MAY 2022
  14. Rebecca Foerster Appointed As President of Hearts On Fire
  15. US Steps Up Sanctions Against Alrosa
  16. PGI Study Findings: Consumers Have Different Interpretations of Sustainability
  17. Irving Wong Appointed as Pandora’s General Manager For China
  18. Rolex’s 6 New Watches Unveiled at Watches & Wonders Geneva
  19. Sixième Sens par Cartier High Jewellery: Heteractis Ring
  20. Will Russian Diamond Ban Help Foster Lab-Grown Diamond Business?
  21. Press Release: Ariana DeBose, Hunter Schafer and Zoey Deutch Shine in De Beers Jewellers at the Vani
  22. Press Release: Ariana DeBose, Hunter Schafer and Zoey Deutch Shine in De Beers Jewellers at the Vani
  23. JEWELLERY GENEVA Takes Place between 30 March and 3 April 2022
  24. Christie’s Presents 228 carat White Dimond
  25. Gold Bar Integrity Programme to be Implemented
  26. Press Release: BONHAMS ANNOUNCES ACQUISITION OF BRUUN RASMUSSEN AUCTIONEERS – DENMARK’S LEADING AUCT
  27. Early Spring Fashion for Natural Diamonds
  28. Jennifer Garner Shines in De Beers Jewellers at the Premiere in New York
  29. To celebrate its 15th anniversary, “Cartier Women’s Initiative Impact Report”
  30. American Gem Trade Association Announces Partnership with JCK Show Again
  31. Chow Tai Fook and Canada's Mountain Province Diamonds Sign Supply Agreement
  32. Registration Is Open for 2022 JCK Show
  33. Alrosa Caught Up in U.S. Sanctions
  34. Tawhid Abdullah Receives Lifetime Achievement Award
  35. The Largest Blue Diamond Appears at Sotheby’s Auction
  36. Price Rise for Nearly 90% Of Fancy Colour Last Year
  37. Dickson Yewn’s Collectibles Given for Sotheby’s Charity Auction
  38. De Beers Boosts Production
  39. Watches & Wonders Geneva To Be Held In Hybrid Format
  40. Jewellery, Gem & Technology Dubai to Debut February
  41. Hong Kong Losing its Dominance as the World's Largest Watch Market
  42. Gift Guide for CNY
  43. Press Release: Sotheby’s Announces New Appointments To Luxury Team In ASsia
  44. Georg Jensen Becomes a Certified Member of RJC
  45. 555.55-carat Black Dimond Unveiled at Sotheby’s Auction
  46. GIA Appoints Anna Martin as SVP for Institute, Industry Relations
  47. Alrosa Boosts Direct Sales of Fancy Diamonds to Investors
  48. CIBJO General Assembly postponed to March 17 and 18, 2022
  49. 7,525 Carat Emerald Discovered
  50. Karl Lagerfeld Jewellery Collections to Shine
  51. Diamonds Travel To The Space
  52. Vicenzaoro January postponed to March
  53. America’s Youngest Jeweller Starts Business via Instagram
  54. Concerns over conflict gold arise again
  55. The 1st International Gemstone & Diamond Trade Summit Wraps Up in Macao
  56. The Knot’s Study:Over 30% of Respondents Say Natural Diamond Unimportant
  57. Pantone’s 2022 Colour of the Year: Very Peri
  58. Phillips Jewellery Auctions Fetch over HK$181 Million
  59. The World’s First Pure Gold Castle of Magical Dreams by CHOW TAI FOOK
  60. Jewellery Sales Jumped 78% During the Thanksgiving Holiday
  61. Gem Auctions DMCC’s Debut Auction Successful
  62. Cartier’s Christmas Tree Lights Up the City with Love and Hope
  63. Rediscovering Lacloche in Hong Kong
  64. Blue diamonds to lead Christie’s HK autumn sale
  65. JMA show to stage next Thursday
  66. HK auction to help Cambodian kids
  67. Basel fair cancelled again
  68. HKDI show to continue in Dec
  69. Gemfields sells 7,500-carat emerald for good
  70. Sustainability is key to diamond purchases, a report says
  71. Christie’s Geneva jewellery sale fetches CHF53.7m
  72. Cibjo forms working group on fei cui standards
  73. Only Watch raises CHF30m for DMD research
Read More...


HIGHLIGHT

  1. US market unfolds changes and potential
  2. The queen of gems, the gem of queens
  3. Classics return

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  • Continental Jewellery sees a rise in demand for lightweight jewellery as people become budget-conscious amidst pandemic.
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  • Diamond and freshwater pearl gold necklace, Wing Wo Hing Jewelry Group

Tides over pandemic crunch

 

Lockdowns and travel restrictions issued in response to the Covid pandemic have deterred local customers and international visitors from splurging at brick-and-mortars, prompting jewellers to evaluate their business plans and redevelop business models. 

Hong Kong’s fine jewellery exports reported a 41-percent year-on-year slump in the first five months of 2020 while hard-hit retail sales remained in the negative territory for two years. However, when one door closes, another window opens as purchases have moved from offline to online sales channels. The uptake of e-commerce sales has altered the ways to serve patrons and attract potential clients. In a recent interview with Hong Kong Jewellery, jewellery manufacturers and exporters based in Hong Kong and Thailand shared their insights on how the unprecedented virus outbreak has transformed the business landscape and their strategies to stay competitive and relevant with their B2B and B2C customers during the tough time.  

 

When social media takes the stage 

Being digitally active is more vital than ever for brands when the pandemic has accelerated the shift towards a more digital world and triggered changes in online shopping behaviours that are likely to linger. 

Social media engagement rate has seen a 40-percent rise across all stages of the pandemic, with Instagram making an astounding cut and outshining its prominent counterparts. Among more than 1.15 billion active Instagram users, 90 percent follow at least one business account and half of the users are more interested in a brand when they see its advertisements on Instagram. Braze 2021 Global Customer Engagement Review pointed out that 60 percent of marketing decision-makers have invested time in customer engagement tools. 

“This year, we have experienced a slump in our sales turnover which reached a record low since 2011. Yet, we thrive to maintain business amidst turbulence,” Camex Jewellery, Hong Kong, spoke candidly. Alongside website enhancement, the diamond and gemstone trader has ventured into the affordable social media marketing on Instagram. 

Instagram is a highly visual and brand-driven platform where photo styling plays a crucial role in delivering brand personality. Proper lighting, a specific colour palette and themed props and backdrops are key elements to Camex’s vibrant Instagram presence. The brand creates the vision and feelings of the specific lifestyle modern women aspire to, rather than focusing solely on jewellery pieces. Its Instagram serves as a jewellery version of OOTD blog, the social media-coined abbreviation for “outfit of the day”, with jewellery layering image backgrounded by marble tables in black and white to evoke a sense of understated elegance and bright flower bouquets to make a pleasant colour contrast with gemstones. Given that Instagram hides captions beyond the first three lines, Camex tries to keep captions simple. “Feeling like a spring garden today busting with flowers and butterflies” and some emojis, for instance, is all it takes to inspire. 

 

Circumstances alter cases

To translate engagement into actual business outcomes, Continental Jewellery, diamond jewellery manufacturer and wholesaler in Hong Kong, permanently shifted its target customers from brick-and-mortar retailers to online retailers by launching digital storefronts. Spokesperson Celine Cheung said: “We took decisive actions to retool our services for online retailers following the continuous growth of online retail as a result of changes in customer spending habits.” Its upgraded website is filled with more jewellery in different styles and qualities, allowing clients to access product catalogues, request quotations and track packages. The company is able to shorten delivery-time thanks to the branch offices in UK and the United States. 

Despite the pandemic has put digital customer engagement and e-commerce at the forefront, Hong Kong-based emerald specialist Sunlight Gems on one hand is stunned by what digitalisation is able to achieve, on the other it believes that most of the clients still prefer to purchase after seeing the physical piece rather than viewing and buying online. “Subtle differences in colour and clarity can dramatically affect emerald’s value. It is not easy to find a way to present the true colour and clarity of an emerald, not even with the help of technology,” Sally Li, production and sales coordinator of Sunlight Gems explained. In the foreseeable future, online platform serves as one of the channels to reach audience worldwide, she added. 

Chase, which wholesales and retails diamond jewellery in the United States, Europe and Hong Kong, shared similar view: “Customers in Hong Kong prefer traditional shopping experience. Shopping in-store allows them to have personalised shopping experiences and try the items on before a purchase decision is made. However, given the current circumstances, they are willing to adopt to virtual try-on through mobile applications and other AR and VR tools.”

Apart from ecommerce opportunities, the Hong Kong-based company pointed out that the history of gifting diamonds as an expression of love and celebration of relationships from family to friendship has generated demands for diamond jewellery throughout the pandemic, which echoed the customer research conducted by De Beers that nearly 90 percent of the  survey-takers desired to express gratitude to loved ones through gifting and natural diamonds were seen as one of the options. 

“In hard times, customers want to send jewellery that carries positive energy and meaningful messages to their loved ones,” said Timax, another jeweller from Hong Kong.

Among gold, silver, fashion and fine jewellery, silver jewellery and gold fashion jewellery are major online sales generators as they are at a competitive price point, Wing Wo Hing Jewelry Group from Hong Kong explained. 

For Bangkok-based RCAN Jewellery and Chokas, fine jewellery has surprisingly done well in the thought-to-be dull season for the sector even though end-customers are more price-conscious and more concern about necessities over luxuries.      

 

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