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Why do jewelry fairs need to change?

    29/07/2017
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The fairs are the thermometers that show the heat and the brightness existing in the jewelry trade. Thus, the 2nd Feninjer, the most representative of the year, to be held at the beginning of August, represents up to 40% of the exhibitors' sales (promoter's data) to their customers, serving to forecast the temperature to be registered in the trade for the second half of 2017.
After a few years without our comments about this fair, we are going to make an analysis of what is happening in the sector. Wait for our new report.
This report will be extremely important to check the state or market situation for entrepreneurs. So, if you plan better for the biggest selling season of jewelry: Christmas.
This year, most jewelery fairs lit the "orange" warning light, as is the case with Baselword (also with JCK Las Vegas), which ends 100 years of existence (created in 1917), where more than 200 exhibitor brands have given up showing their products in this 100-year-old Baselworld.
In Baselword Pavilion 2 (usually occupied mostly by lesser-known jewelry makers and watch brands) one of the floors was closed. Already the tent where the master watchmakers and niche brands usually met) disappeared.
This problem is derived from the current economic situation before the prices charged by the promoters of the fair. A stand of 40 square meters in Pavilion 1 requires an investment of € 600 thousand, which easily comes with other costs a € 1 million, values that, in the current times, are difficult to recover and to justify.
In 2018, the fair will have two days of open doors, since some brands have already announced that they will not attend and the large groups (Swatch, LVMH and Richmont) want to significantly reduce the costs of participating in this event.
Herm├ęs and Dior have announced that they will miss the 2018 edition, a decision that may inspire others to follow this option.
What's happening?
The world has changed and the business model of this sector must be reviewed. From initial production to the point of sale (jewelers / retailers) it should be reviewed, including marketing and communication, where participation in events of this nature are included. The Internet already accounts for 50% of sales of luxury watches and in jewelry increases every year.
The grand shopping centers are over, as are the massive sales. The fairs need to be lower cost, as CREBi.com proposes with its regional VAPs, where the cost of participation did not reach R $ 5 thousand and sales for each participant directly in the fair was on average more than R$ 50 thousand and Plus R$ 350 thousand after fair. This was obtained in the economic region of Ribeirao Preto.
The way forward is likely to reduce prices, as more and more consumers question the value claimed by jewelry and watches. The competition of electronic gadgets, automobiles and travel tourism and adventures are relegating jewelry to follow.
The way forward is likely to reduce prices, as more and more consumers question the value claimed by jewelry and watches. The competition of electronic gadgets, automobiles and travel and adventure tourism are relegating jewelry to the background, along with a forgetfulness of conquest of new generations of consumers.
As if this were not enough, still the news "salt and pepper" that lead to impulse buying, is increasingly in extinction.
For CREBi.com, gold jewelry in Brazil has already become a product of "niche" and now only need to reach the "world of pens" that conformed to the almost nonexistence (except for Montblanc).
Where will the exclusivity, the glitz, the glamor associated with this sector that lived in opulence stop and capture new end consumers and a new business model?
We need to reflect on our industry that lives a strange present and a future that nobody can foresee. They are necessary, new products, new prices, new protagonists and new consumers, in short, a new future.
Wait for our report that will translate the somber or cheerful air of the exhibitors.

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