A roll of the dice: News and views from JCK Las Vegas

by Samantha Ashenhurst | August 19, 2023 11:11 am

By Samantha Ashenhurst

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Las Vegas: land of glitter, style, lights, and luck. What better place could there be to host one of the biggest jewellery events of the year? For its 2023 edition, held June 2 to 5, JCK Las Vegas saw more than 30,000 professionals from all facets of the jewellery industry gather at the Venetian Expo to source products, learn new skills, and connect with colleagues. This count included 18,000 attendees (up eight per cent from 2022, according to show organizer, Reed Exhibitions), conducting business with 1,900 exhibiting companies occupying more than 20 different show floor neighbourhoods.

“It was another incredibly energetic and successful year for JCK,” says RX Jewelry Group vice-president, Sarin Bachmann. “Our goal was to create an event that everyone looks forward to, in addition to needing to attend for your business, and we accomplished that and more.”

While show attendance saw an increase from last year, some long-time exhibitors did not feel the “pre-pandemic” numbers had quite returned across the board.

“The number of exhibitors really went up; however, attendance was exceptionally low by retailers,” says Anita Agrawal, CEO of Toronto’s Best Bargains, who has been exhibiting at the show for 28 years.  

Chris Ploof, owner of Chris Ploof Designs, agrees, adding that that changes to the show floor’s overall layout may be working against some exhibitors.

“I felt like attendance was lighter this year than last year,” he says. “Attendees used to come to the design centre—now “design collective”—when it was a showcase of designer jewellery. There is now so much run-of-the-mill there, I feel like it has lost its lustre.”

Nonetheless, many exhibitors—including Naomi Traimer of Ontario-based brand, MeditationRings—say the show was still one for the books.

“We found this show felt very much like pre-COVID days,” she tells Jewellery Business. “We felt the attendance was very good this year, with a lot of traffic and great buyers.”

The future is now

Among the hot topics on this year’s show floor was the continued need for retailers to enhance the personal connection of their digital offerings. To maximize education and training on this front, JCK introduced a new “Social Stage,” which saw digital strategists, content creators, and influencers deliver daily 30-minute sessions, packed with actionable tips and tricks for content creation, social media engagement, and standing out on social platforms.

“These initiatives created a focused area on the show floor dedicated to showcasing what’s next and what’s trending for the future of innovation in the jewellery and retail industries,” Bachmann says.

Tech is certainly everywhere—from advances in computer aided design (CAD) to assist in fully customized design work, to Gem Certification & Assurance Lab (GCAL) by Sarine’s diamond colour and clarity grading system, which is powered by artificial intelligence (AI).

The advancements are incredible—albeit a bit overwhelming (particularly when it comes to client communication).

“[We heard] lots of complaints about the inability of end-consumers to make decisions, and their desire to communicate across all channels—voice, email, text—then wanting the salespeople to do all the work of compiling the info,” Ploof tells Jewellery Business.

To effectively leverage the tools and tech currently available without losing sight of the big picture, he suggests jewellery retailers take it slow.

“Start with simply being willing to do something simple, like texting customers,” Ploof says.

Much of the tech-focused discourse circled back to one relatively new disruptor on the scene: ChatGPT. This generative AI device is certainly powerful—it can develop marketing strategies, compile social media posts, and even compose copy for email campaigns.

“For the independent small business, there are a lot of interesting things you can do with ChatGPT,” Agrawal says. “In many ways, I think we’ve just scratched the surface of the ways you can use these tech gadgets.”

Of course, AI technology also has its limits and risks—particularly for creative professionals when it comes to drawing and designing.

“The issue with AI is it literally combs through the internet to scan for artistic styles to draw inspirations from,” Agrawal says. “This poses a problem for artists and jewellery designers—those who have spent years honing their craft and uploading their product/artwork online only for AI to steal their style aesthetic and come up with a facsimile in mere seconds. This, in my opinion, will pose problems in the future for proprietary reasons.”

Style on point

What styles are hitting the mark this year, though?

For starters, fun “everyday” items—including colourful pendants, tennis bracelets, and Y-necklaces—are certainly striking a chord with consumers. Indeed, Traimer notes there seems to be a rise in shoppers fully incorporating jewellery pieces into their lifestyle and not just for the sake of fashion.

“We found many retailers were looking to purchase a brand that has meaning, but is also fun and unique,” she says. “We sold a lot of our white enamel and ceramic rings.”

As far as metals are concerned, ever-timeless yellow gold continues to be popular, particularly when paired with soft, delicate gemstones.

“Small, dainty, and classic is our style—and, this year, we’re fortunate that this is still trending,” Agrawal says.

Of course, many buying trends can be linked directly to the state of the economy and the pinch felt by consumers and retailers alike.

“Our rings retail between $49 and $639, which is a good demi-price point,” Traimer notes.

Indeed, keeping in line with customers’ needs, as well as their budgets, seems to be more important than ever.

“Affordability is at the top of everyone’s mind,” Agrawal says. “Most sales happening right now are in a lower price point, which is why it is important retailers embrace the new reality of doing business and cater to lower ticket items, too.”

Source URL: https://www.jewellerybusiness.com/features/news-views-jck-las-vegas-2023/

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