Lower Import Duty Boosts Chinese Presence At VicenzaOro
The latest edition of VicenzaOro, the international gold and jewellery trade show organised by the Italian Exhibition Group (IEG) from September 22nd to 26th, concluded on an optimistic note. IEG said foreign visitors accounted for more than 40% of the overall visitor attendance, with buyers from 117 different countries attending the show.
The total visitor attendance remains in line with that of the September 2017 edition, at over 20,000, despite the period overlapping with Jewish festivities. IEG said there was a boom in the number of visitors from China, which rose by 73% mainly due to the lowering of import duties, a consistent 23% growth of visitors from the US, while those from the United Arab Emirates remained stable, as did those from Europe.
Some 1,500 buyers were in attendance, including representatives from large-scale
American department stores and leading Chinese and European chain stores, as well as over 140 journalists, all selected in collaboration with the ministry of economic development, through ICE Agenzia (Italian Trade Agency), in close coordination with Confindustria Federorafi.
The organiser said the sector is starting to show positive signs, and that VicenzaOro continues to consolidate its position as the most prestigious and important European gold and jewellery showcase.
Joining IEG president Lorenzo Cagnoni at the ribbon-cutting ceremony were the Indian Ambassador to Italy, Reenat Sandhu; the minister for regional affairs and autonomies, senator Erika Stefani; the vice minister for economic development, Dario Galli; the president of ICE, Michele Scannavini; the president of Confindustria Federorafi, Ivana Ciabatti; and the mayor of Vicenza, Francesco Rucco.
VicenzaOro had over 30 educational events open to exhibitors and visitors alike and numerous well-attended seminars for debate and further information on the sector. The topics of discussion included product innovation, consumer modalities, and the market trends bound to leave a mark.
The discussion on the first day of the show at Visio.Next: Trends, the first round table at VicenzaOro September, gathered together international experts, including top influencers and leading jewellery companies and insiders.
The show witnessed a 52% growth in the number of users on its website www.vicenzaoro.com and considerable participation and content sharing among bloggers, influencers and Instagrammers. The Digital Talks series,
organised in collaboration with Confcommercio Federpreziosi, also met with enormous success.
The show also hosted 30-minute meetings and brainstorming sessions on the hottest digital innovation topics specifically aimed at jewellery and watch retailers, which saw the involvement of sector experts, including representatives from Amazon. The Gem Talks meetings, organised by the Italian Gemmological Institute and sponsored by CIBJO, Borsa Diamanti d’Italia, Confcommercio Federpreziosi and Associazione Gemmologica Italiana, were modelled in the same way.
Among the new entries at this autumn edition of the show was T.Evolution – Jewellery Machinery & Technology, organised in collaboration with Centro Produttività Veneto (CPV). The project had an innovative exhibition-training format, specifically dedicated to jewellery and gold processing and machinery, whose core focus was on the digital technologies and methodologies that are being increasingly used in jewellery manufacturing.
The Watch Room, a section entirely dedicated to watches, hosted the latest collections and previews of 12 independent brands.
The IEG-managed Museo del Gioiello, a museum dedicated exclusively to jewellery, opened a temporary exhibition entitled “Jewels of Power: Crowns and Tiaras”, under the curatorship of Alessandra Possamai. The exhibition will be open to the public until March 17th, 2019.
During this edition of VicenzaOro, Paola De Luca, creative director and forecaster, presented TrendBook 2020+, the publication compiled by VicenzaOro’s independent research centre, Trendvision Jewellery + Forecasting, that IEG has devised to offer a glance at the trends that will be influencing the jewellery world, consumer attitudes and international luxury market situations during the next 18 months.
“We are currently going through a period of considerable change and rule-breaking,” explained De Luca. “The standards of beauty are no longer the same. Uniqueness lies in imperfection, enhanced by pride in one’s own diversity, whether ethnic, physical or cultural. Therefore, a mature beauty, no longer linked to age but more to a lifestyle, tastes and personal values, now has a place in the consumption system and is being proudly expressed.”
Brands are responding to this trend by creating collections with items that, rather than being coordinated and matching, can be combined according to individual taste in a mix and match that breaks the rules of style and leaves the consumer totally free to express his/her own identity. For example, by wearing earrings sold singularly that go with a toe-ring.
Where everything tends to be globalised, the search for roots is starting to re-emerge. “One of
the most interesting phenomena,” continued De Luca, “is the re-interpretation of items like the tiara, a historical trend that has always been as strong and reassuring as the past it draws upon, nurtured by news reports on the comeback of royal families, and one that satisfies the fairytale desire to escape reality.”
The millennials themselves are changing purchasing priorities: the perception of luxury is associated
to life experiences, emotions, not to owning an object.
Asia, on the other hand, is producing designers and photographers able to look at their past with a futurist eye who are becoming the mouthpieces of a cultural revolution that breaks with the past. And that is no small thing in an age where the world speaks through aesthetic codes and semiotic elements and photography is the global language.
Therefore, in a global context where we are re-writing the rules, there are five megatrends on which to keep an eye in order to find the right direction and understand consumer evolution in the jewellery world:
SOFT POWER: pride in standing out.
SYBILLE: spirituality, mysticism, irrationality. Innovation passes through the wisdom of nature and an awareness of ancient know-how.
RURAL VISIONNAIRE - Nature Odyssey. Importance given to meaning and origins. Organic and sustainable, great attention to sustainability.
BABEL – The phygital. This consumer has an extremely open mind and is convinced that everything can be re-thought and re-defined. He/she lives in the name of simplicity and minimalism, preferring a highly casual and functional style in order to be exactly what he/she wants.
ANOTHER MAN – The disruptive. A “good” individualism emerges, one that pays more attention to shape and essence rather than appearance. Inspiration comes from the aesthetics of purity and celebrates authenticity and uniqueness. Considered as one of the most important consumer groups over the next five years, it consists of men with an open mind who are not afraid of showing their own emotions.
The millennials themselves are changing purchasing priorities: the perception of luxury is associated to life experiences, emotions, not to owning an object. Asia, on the other hand, is producing designers and photographers able to look at their past with a futurist eye who are becoming the mouthpieces of a cultural revolution that breaks with the past.