- Top stories in Gem and Jewelry market
Thailand’s gem and jewelry export value from January to July 2022 soared 76.33 percent from the value of USD 5,545.84 million in the same period of last year to USD 9,778.97 million. The ease of Covid-19 restrictions and international travel ban promoted travelling and relieved pressure in living of people in general. Subsequently, purchasing of products other than consumer goods thrived consistently. Moreover, Thai baht weakening boosted competitiveness in price of Thai products.
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.
Entrepreneurs have accelerated adaptations during the pandemic by exploring new trade channels and modifying company strategy to take advantage of opportunities presented by digital technology. As people’ perspectives and way of living have changed after the pandemic, the technologies have increasingly played a vital role in society and lifestyles. Such movement has brought about the Next Normal living trends, which began to expand widely and become influential to future life and economy.
Throughout 2021, global economy in general has been recovering, it could be said that 2021 is the beginning of recovery and anticipation. Thus, choosing suitable technology is essential. Moreover, growing number of digital natives who are becoming dominant buyers in online market has driven brands to shift their focus more toward marketing to the groups. What's the content As can be read in the article.
- News update in Gem and Jewelry industry
Lucapa Diamond Co Ltd has unearthed a 160-carat white diamond from the same Angolan mine where Lulo Rose – an impressive 170-carat pink rough – was earlier recovered.
Russia’s Finance Ministry has released a statement condemning the bid to have diamonds mined in Russia classified as blood diamonds. The livelihoods of one million people of Yakutia fully depend on the stability of diamond mining in the region.
Despite supply chain challenges and economic obstacles associated with the Russia-Ukraine war, platinum jewelry sales in the U.S. started the year on a strong foot. Retail ounce sales were up 23 percent year-over-year in Q1.
Though the 2022 trend is about more than jewelry—crystal eye makeup and a pedicure with rhinestones are some of the top searches—there are traditional jewelry items listed too. Gen Z is driving a trend toward accessories that goes way beyond the basic earring, cuff, or layered necklace.
Flexible in-person pickup options such as Buy Online Pickup In Store (BOPIS) ranks as one of the most popular customer-service offers that started during the pandemic, grew in use through holiday 2021, and should continue going forward.
Yellow gold, oval diamonds, alternative center stones. The 2021 Knot Jewelry & Engagement Study reveals new trends for jewelers and highlights how bridal sales may look into the next year and beyond. One of the survey’s key findings focuses on how couples are taking a “highly personalized approach” to engagement planning and buying.
Emeralds from the Musakashi deposit, in the Solwezi district of central Zambia, are very different in their formation and occurrence to the “classic” Zambian production from the Kafubu area, and, interestingly, in many aspects are reminiscent of Colombian emeralds.
GJEPC Membership now Compulsory for Kimberley Process Regulation in India. In line with the current government’s focus on “minimum Government and maximum governance,” by easing the procedures of doing business in India, the Govt. of India has mandated membership of GJEPC for getting the Kimberley Process Certificate for import and export of rough diamonds into India.
Rio Tinto is now the sole owner of Canada’s Diavik Diamond Mine, located in the Northwest Territories. It had previously owned 60 percent, partnering with Dominion Diamond Mines.
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