Currently, it is encouraging that the people of this third millennium are getting married

The completed exhibition JCK Las Vegas corresponded to low expectations in the trade in diamonds. The suppliers of diamonds were convinced of the strength and stability of the United States market, even if sales volumes were small and buyers insisted on more discounts.

For this reason, confidence has grown, and the exhibition can be considered successful. Unlike the March Hong Kong exhibition, which showed a continuing weakening of the Far East market, diamond dealers and jewelers left Las Vegas in a relatively positive mood, having done some business.

And again, Las Vegas is very different from other international exhibitions. For the diamond industry, this is a smaller market than in Hong Kong, where there is more trade at each stand. On the contrary, Las Vegas provides an opportunity to meet with old acquaintances and to establish potential new acquaintances - whether it is on the stand, numerous events for informal communication, or at the table for games - and get information about what is happening in the market.

Our conversations in the diamond pavilion confirmed the trends that we noted in the last few months. If you have a good product, then you will be able to sell inventory at sustainable prices. Demand is specific and good on fine cut stones, triple EX diamonds, and there is a deficit in these categories, and in the United States there is a steady demand for "piqué" products. On the other hand, there are many low-quality diamond stocks in the market, despite the fact that production levels have declined in the last six months.

Suppliers hold much of the old stock and refrain from offering fresh goods to the market until demand increases, which many expect in the fourth quarter. Manufacturers seem to be waiting for September - another milestone for determining the strength of the market, both from the point of view of the September Hong Kong exhibition and their preparations for the festive season in the United States.

It seems that buyers are also waiting for a favorable moment. A number of suppliers told Rapaport News that there was a great interest in products at the exhibition, but they did not buy much. Buyers received information and left, probably referring to the client. For this reason, probably the most important thing for an exhibition in Las Vegas is tracking the situation after the exhibition. One should always be present at the exhibition to benefit from the constant demand for diamonds in the United States.

The same trends were noted in the pavilions of finished jewelry and other shows held in Vegas last week. The Couture exposition show was in a good mood, and the market for high-priced jewelry in the US is stable, although this year the JCK Luxury was somewhat sluggish. Some noted that total sales fell in the segment of expensive products, but expensive goods were sold and increased sales, reaching levels higher than last year.

First of all, high prices refer to unique products. Perhaps, for this reason, the Antique exposition was very good, and steady sales and attendance were noted, and demand for branded jewelry from private collections was also increasing. In fact, all jewelers, without exception, tried to present something different from others in order to provoke interest in their products.

After all, the mindset of the American consumer is changing, as the generation of the third millennium came to replace the generation "X" and the post-war generation, and it became the key demographic group in the market. The market of jewelry and islets of trade in diamonds seems to understand that for people of the third millennium they need to create a different design, in another way to carry out marketing and sell. But conversations and seminars at the JCK show that the industry is still learning to adapt to these changing needs.

Perhaps there is still a transition period for the diamond industry, when it seeks to preserve the diamond dream, as Stephen Lussier, CEO of Forevermark said at a breakfast hosted by Rapaport, said on Sunday at the exhibition. In this column, these and other issues raised at the conferences organized by Rapaport will be discussed in the coming weeks, as well as some topics related to the generation of the third millennium.

Currently, it is encouraging that the people of this third millennium are getting married, the US wedding jewelry market remains an important driving force for the growth of the diamond and jewelry industry.

The analysis conducted by The Knot, an information site that focuses on the consumer, showed that in the past two years, the cost of diamond wedding jewelry has risen.

A survey conducted among brides and grooms, with an annual income of $ 65,000 to $ 81,000, showed that the average cost of a diamond engagement ring rose to $ 6,071 in 2015 from $ 5,258 spent in the group that was surveyed in 2013. The brides spent a little less on jewelry for the wedding, an average of $ 408, but more on jewelry gifts to their bridesmaids, an average of $ 105.

Although people of the third millennium are more interested in electronics and other luxury goods, rather than fashionable jewelry, the market of wedding jewelry remains the main support of the industry. Most of the brainstorming that took place in Vegas was focused on how to improve the retail experience.

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