Condividiamo alcune notizie provenienti dagli Uffici Esteri dell’ICE.
ITA HOUSTON: ITALY SOARS IN AMERICA
(ICE) – ROMA, 15 LUG – The United States is very important in the trade of Italian products also in the jewelry sector. With the crisis of the years 2008/2011 there was a risk of the extinction of the import of jewelry and only in 2014 did we see the first signs of recovery thanks to the dollar which reached an all-time high, gold at its lowest and the American buyers who directed increasingly their search for a quality product. In 2020, the pandemic disturbed the American market, but international trade continued to grow, reaching record levels of imports: 106.5 billion dollars, with Italian products alone amounting to 1.7 billion dollars, an increase of 10.2% compared to 2019. In 2021 imports were down by 10.5% compared to 2020, but for imports from Italy it was different, in fact they grew by 75.39% compared to 2020.
About American jewelry, there are three types of Italian jewelry imports whose values, added together, make up 93% of total imports. The first is High Jewelry, or finished products in precious metals, a category for which Italy is second only to India as a supplier country to the USA. The second type concerns raw platinum, with Italy in fifth place as a supplier. Finally, costume jewelry for which Italy is the second largest supplier to the United States. There is a slow but steady growth of Made in Italy, which is still the most appreciated by American buyers. (ICE HOUSTON)
US JEWELRY, WATCH SALES TAPER OFF IN MAY
(ICE) – ROMA, 15 LUG – According to preliminary data from the US Bureau of Economic Analysis (BEA) for the month of May, sales of watches and jewelry fell, while year-over-year they increased by 11%. For the month of March there was an increase of 10% while for April of 16%. Although increasing, this growth is lower than in the same period of 2021. Growth is expected for this year, but not like that of the past year. Industry analyst Edahn Golan has defined 2021 as “the year of jewelry”, a year in which sales reached an estimated $ 115.29 billion. For this year, however, it is expected to reach 126.13 billion dollars, with an increase of 9% year on year. There is therefore a slowdown in growth.
Jack Kleinhenz, chief economist at the National Retail Federation in the organization’s Monthly Economic Review argues that consumers are battling rising prices as the inflation rate peaks in 40 years. Overall US retail sales in May plummeted, down 0.3% month-on-month, albeit up 8% year-over-year. The Consumer Price Index, which measures the average change in prices over time that consumers will pay for a basket of goods and services, rose 1% month-over-month in May.
The Federal Reserve recently raised its interest rate to fight inflation, and consumers are also feeling the effects of the war in Ukraine. Kleinhenz points out that a “shrinking economy” just below recession levels will be possible for the next few years to come. (ICE HOUSTON)
A NEW ONLINE JEWELRY AUCTIONS
HiBid is an online auction site where you can find various items from quality brooch to fun and original watches. The site truly has something for everyone. During a visit to the Auctions section, a high-end jewelry auction was found with around 200 pieces on offer at reasonable prices, including a 14-karat white gold ring with a pear-cut diamond, a pair of yellow gold earrings, 14 karat blue diamonds and mother of pearl, a garnet bracelet, a sterling silver necklace with sapphire stones and a Bulova watch with mother of pearl dial and dozens of crystals. An engagement ring with a 1.25-carat diamond costing just $ 500 or an 18-karat white gold bracelet with diamonds and sapphires with an expected retail price of between $ was found at a high-end jewelry auction. 8,500 and $ 12,000.
For consumers who like the classic, there is the antique and vintage jewelry section on HiBid.com. In this category, for example, single pieces and lots and sets of antique jewelry can be found. It is necessary to visit the site several times because it is constantly updated with new items, so maybe it is possible to find jewels at a more than honest price. (ICE HOUSTON)
THE FIRST ITALIAN BIENNALE OF DESIGNER JEWELRY
(ICE) – ROMA, 11 LUG – The First Italian Biennial of Author’s Jewelery, which will be held until 24 July at the Sala della Ragione of the Civic Museum of Asolo, has set itself the mission of weaving a common thread between artists, art lovers and experts through a cultural exchange that involves the whole world.
This first edition will be attended by 24 international artists, whose works are present in the collections of the most important museums in the world. Among these we find Stefania Lucchetta with the Vertebrae brooch in titanium and iron. The exhibition is curated by Thereza Pedrosa and dedicated to Giampaolo Babetto, who was awarded the Archaeometra Award for his career. (ICE HOUSTON)
FORECASTING TRENDS: A STAPLE FOR THE BURGEONING GEM & JEWELLERY INDUSTRY
(ICE) – ROMA, 11 LUG – Trend forecasting can be considered an art or a science, but forecasting is literally a field of study with special courses and degrees. Predicting was therefore an art conventionally based on intuition, it captures the intellectual, moral, and cultural climate of an era and translates into products, services or campaigns to which consumers will react positively in the future. Technology and science have changed the way to formulate speculations, in fact brands seek statistical data and evidence from the agencies of forecasting trends.
The data used for forecasts come from various sources, such as social media, brands, and other platforms, are combined and studied by teams of researchers and data scientists, with the help of artificial intelligence to study future trends. Trend forecasting agencies offer accurate product predictions using forecasting algorithms. In the gems and jewelry industry, these figures were relevant to forecasting sales based on existing customer data.
A global circumstance can lead to the creation of a niche trend. For example, the importance of the evil eye worldwide has served as an inspiration to jewelry designers who have created pieces using the trend. Another example could be of a financial nature, that is, due to the war between Russia and Ukraine, the United States has imposed a ban on Russian diamonds. Following this ban, the prices of rough diamonds from Russia dropped dramatically.
Brands that intend to expand should first understand the trends in the international market. Really, to the gems and jewelry sector it must be said that it is a globalized sector capable of transforming the way companies approach business, planning, and marketing, their sales strategies depend on which trends are expects to be more desirable for the geographic area. TrendVision, an independent research center for jewelry prediction, offers great research material. The Jewelery Trendbook serves as the ultimate guide to trends in the jewelery market.
The JK Diamonds Institute invited Paola De Luca, an Italian luxury trend meteorologist, known for developing a Trend Book that predicts global trends in jewelry design, and she began her career as a jewelry designer. De Luca is the founder of The Futurist Ltd, a research and creative intelligence company that carries out projects for clients in the global luxury sector.
The forecast is primarily based on research, in fact understanding future trends requires a detailed analysis of past and future events. Researchers study events to generate statistical data.
For De Luca, there are 6 tips for companies to predict today’s market trends. First, understand customers since they are the main sources of information. Understanding what the consumer thinks will give an in-depth view of what he would prefer to have.
The second tip is to use the latest technology. It has revolutionized every field of study. It is then necessary to be updated on trends and events and this can be done simply by reading articles on the internet, seeing what is published on social media. It is also important to analyze the current economic scenario. Economics helps determine the demand for the future.
Further advice is to listen to the collective voice, consumers are connected and guided by what others love and prefer, the influencers they follow and the posts on social media. Consumers are becoming more and more impulsive as marketing has become faster. Today’s public will not wait to get what they want, they need it right away. Brands must therefore strive to immediately gratify the needs of the public. (ICE HOUSTON)
(ICE) – ROMA, 11 LUG – Kazakh president signs amendments raising MET on exchange-traded metals by 50% President of Kazakhstan Kassym-Jomart Tokayev has signed into law the bill “On Amendments to the Tax Code.” The bill increases the mineral extraction tax on exchange-traded metals by 50%, and by 30% on other solid minerals; the tax rate on gold and silver is set at 7.5%, Minister of National Economy Alibek Kuantirov said earlier in the parliament. The amendments also provide for an exemption from the mineral extraction tax for new deposits that are scheduled to start production after December 31, 2022, and until reaching profitability of 15%, for no more than five years. “In order to prevent the outflow of capital, the bill revokes all dividend privileges for non-residents,” the minister said. The amendments will raise excise duties on cigarettes and other types of tobacco products within the EAEU. The adopted law also provides for levying higher taxes on digital mining. At the beginning of this year, a tax on digital mining was set at 1 tenge per 1 kWh of electricity consumed. (ICE ALMATY)