- Top stories in Gem and Jewelry market
Thailand Gem and Jewelry Import-Export Performance January-March 2023
Thailand’s gem and jewelry export value of January-March 2023 slid 24.81 percent from the value of USD 5,486.78 million in the same period of last year to USD 4,125.38 million. Export value of Thai gem and jewelry products (excluding gold) of January-March 2023 increased due to positive impacts such as Thai baht value which was favorable for export and positive trend of purchasing power in several major trading partner countries.
Technology Expedites Gem and Jewelry Business Capacity Enhancement
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.
Expand Opportunities in Global Market with Gem and Jewelry Trading Platforms
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: Opportunity or Risk for Gem and Jewelry Industry?
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.
Sammuang Kaewwaen: Chanthaburi’s Inventor of Gemstone Heat Treatment
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
NFT: From the World of Art to Gem and Jewelry
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
UK to ban imports of Russian diamonds
Russian diamond imports to the UK are among a number of items that will be banned as the government steps up sanctions against Vladimir Putin. As well stopping the supply of Russian diamonds into the UK market, it is also targeting imports of metals including copper, aluminium and nickel.
NDC, Diamond Standard Collaborate on Investment Products
The Natural Diamond Council (NDC) is partnering with Diamond Standard to offer retailers and their customers the opportunity to invest in the company’s “coins” and “bars.” The NDC plans to develop educational materials that outline the investment profile of diamonds, as well as the environmental, social and governance characteristics associated with Diamond Standard’s offerings.
Solid growth in China jewellery sales
China’s jewellery sales retained their upward trajectory from January to April 2023, thanks to sustained recovery in consumption, according to the National Bureau of Statistics of China.
Gem trader HB Antwerp eyes African diamonds after Botswana pact
HB Antwerp, a Belgian gem processing firm and trader, is hunting for more deals in Africa after securing a sales pact with Botswana, the world's No. 1 diamond producer by value.
De Beers delays rough diamond sales as demand decreases
The world’s largest diamond mining company, De Beers Group, has postponed its fifth and sixth sales cycle auctions for the year amid concerns about dwindling international demand.
Yellow Diamonds Lead Fancy Color Rises
The index that tracks all fancy color diamond prices rose by 1.3 per cent in the first quarter of 2023, with the biggest increases among yellows. The New York-based Fancy Color Research Foundation (FCRF) said white diamond prices fell by 2.8 per cent during the same period.
HK jewellery sales up on sustained recovery
Jewellery sales in Hong Kong saw strong improvement during the first quarter of 2023, mirroring an overall growth in the city’s retail sector. Jewellery, watches, clocks and valuable gifts recorded an 88 per cent year-on-year uptick from January to March this year while sales in March alone were up 165 per cent compared to the same period in 2022.
How ChatGPT Can Help Jewelers With Their Business
Jewelers can use ChatGPT and other artificial intelligence–based tools to save time and money. ChatGPT and similar artificial intelligence programs can help companies “automate tasks, improve efficiency, and make better decisions.
Pandora reports fourth consecutive quarter of revenue increase
Pandora has reported a modest increase in revenue in the opening quarter of 2023. Revenue improved by one per cent on a year-by-year comparison, reaching $US864.8 million ($AU1.28 billion).
Have you read news today?
- Thailand Gem & Jewelry Import-Export Statistics
- Thailand Gem & Jewelry Infographic
- International Gem and Jewelry Fairs, Seminars and Conferences