(ehudlaniado.com) - Another trade show has come and gone, leaving more questions in its wake about the role such shows play in fostering diamond sales. These uncertainties take their place alongside many other lingering questions about the direction the diamond trade is taking. BaselWorld is the premier trade show for watches in the world, and probably Europe’s foremost jewelry show. According to exhibitors, the show met with lukewarm sales, an apt reflection of the state of demand in global markets. While sales were low for both watches and jewelry, diamonds and jewelry seemed to suffer worse than watches. In terms of marketing, I must ask myself, is it appropriate for the diamond industry to offer mass quantities of loose one-carat diamonds at such a location? What is the message we are sending to high-end consumers that frequent this trade fair, if they see high-end diamond jewelry pieces in one booth and then loose diamonds in large quantities offered at wholesale prices in another booth? How difficult is it for a sophisticated consumer to understand the markups on luxury jewelry? Doesn’t this behavior create discontent among consumers? Does it not lead to pressure to reduce jewelry prices? And if that is what happens, isn’t it clear to all that we are hurting our own business? Is it appropriate to offer luxury items next to their wholesale offered components?
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