- Top stories in Gem and Jewelry market
Thailand’s gem and jewelry export value from January to November 2022 climbed 57.24 percent from the value of USD 9,215.12 million in the same period of the previous year to USD 14,489.54 million. Export value of Thai gem and jewelry products escalated following growths in export to key markets around the world.
AR technology allows customers to experience trying on jewelry pieces in real-time as if they are at a jewelry store. Shoppers can explore or try on products and also decide on buying a product more conveniently. Such service will help promote online jewelry sales.
E-commerce has been booming all over the world throughout the pandemic. Lockdowns and store closures have caused a rapid growth in online shopping. Online Gem and jewelry trading platforms, which have broadened distribution channels to consumers around the world, are the following 5 platform.
Metaverse is the technology designed to connect the real and the virtual worlds. Each virtual world offers an opportunity for businesses or brands to advertise, organize events, launch campaigns, as well as design and sell non-fungible token (NFT) products. It offers new options for gaining revenue, raising brand awareness as well as establishing close relationships with customers.
In the present, Gemstones an important export product of Thailand and establishing its status as the world’s major gem and jewelry center. The name Chanthaburi is well known in the colored gemstone industry, if it is not because Sammuang Kaewwaen invented the heat treatment, Chanthaburi might not be one of the world’s most important gemstone trading centers as it is today. Can read his legacy in this article
With the economic fluctuation during the past two years, the investment trend is heading towards an increasing variety of alternative assets. Now the new trending digital asset called NFT is gaining interest from people around the world. Selling NFTs is one of the options chosen by professional and amateur artists as the main channel to approach their targets, where their works can be displayed and sold directly without the help of physical exhibiting venues. Thus, the NFT platform has become a practical solution during the covid-19 pandemic, resulting in its rapid growth.
- News update in Gem and Jewelry industry
Retail sales at Hong Kong-based jewelers Chow Tai Fook and Luk Fook fell in the third fiscal quarter amid a coronavirus wave in China and a rise in gold prices.
Authorities in Sri Lanka have limited the import of gold jewellery to 22 carats per person in a bid to curb illegal gold smuggling operations.
The re-availability of experiential consumer options such as travel and entertainment could be drawing some discretionary spending away from the jewellery category.
Yogo Mine in Montana, which produces the popular Yogo sapphires, was dormant for nearly four decades. The first two seasons Yogold operated the Yogo Mine—in 2020 and 2021—the company was doing only surface mining with the intent of eventually moving underground.
India’s organized gold-jewelry sector will grow by up to a quarter this fiscal year as demand increases and regulations make the larger players more competitive. Wedding and festive sales will boost major retailers’ top lines, as will greater disposable incomes and higher gold prices.
India’s jewelry industry is asking the government to abolish import duty on seeds for growing synthetic diamonds, claiming the move would boost the country’s manufacturing sector. Most importers currently pay 5% tax on those materials, compared with 0% for natural or lab-grown rough.
Live chat, influencers and video are just a few of the elements that need to be part of your digital marketing plan. The marketing rules have fundamentally changed and to continue to be successful, you need to adapt and grow.
Retail sales in Hong Kong and China were down in November 2022, following steady performances in the previous months. Sales of jewellery, watches and clocks, and valuable gifts in Hong Kong dipped 8.3 per cent to HK$2.91 billion during the month in review.
A strong 2022 turnout at major auction houses Christie’s and Sotheby’s is pointing to continued growth in the auction sector, bolstered by the art and luxury categories.
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