A long-established maxim in jewelry marketing is that one of the most significant predictors that an individual will eventually purchase a high-value item of jewelry is that she or he has already purchased jewelry in the past. A first acquisition whets the appetite for more.
Consequently, the age at which people acquire their first piece of fine jewelry is of supreme importance. Younger is better, as not only does age indicate the number of purchases likely to be made over the course of a lifetime, but also how much will be spent on jewelry over that period, with the value of purchases tending to increase as maturing consumers become more economically secure.
But while the marketing maxim still holds true, the world is changing. Younger consumers are offered a wider range of alternatives to spend their discretionary income. Furthermore, in many countries they are less independent financially than their parents were at their age, and they are marrying later and not as frequently. At the same time, new markets, which 25 years ago hardly registered on the jewelry industry’s radar, are today prime targets.
CIBJO’s Jewellery Industry Voices webinar on August 25, 2022, will examine what is required to raise demand for jewelry among younger consumers. It is entitled “Connecting a New Generation with Jewellery.”
The blue-ribbon webinar panel includes Zhenzhen Liu, Director of Global Corporate Marketing at Platinum Guild International (PGI); Han Ye, Lead Partner at Kantar China, Consulting Division, an expert in branding, consumer understanding and market research in both the Chinese and international markets; Mu Chen, Founder and CEO of BigOne Lab, a Beijing-based omni-channel e-commerce consumer analytics consulting firm, which helps companies navigate the latest trends; Jenna Kirschner, Director at New York-based 360 Market Reach, who is an expert at developing research that build brands, supporting successful product innovations and enabling effective communication with target audiences; and Suvankar Sen, Executive Director of Senco Gold & Diamonds, a major Indian jewelry manufacturer and omni-channel retailer.
The seminar will be co-moderated by Edward Johnson and Steven Benson, and CIBJO President Gaetano Cavalieri will welcome participants.
The webinar is sponsored by Platinum Guild International (PGI), which is also the Platinum Sponsor of Jewellery Industry Voices Season 3.
The webinar will be held Thursday, August 25, 2022 at 9:00 AM EDT.