Members of the jewelry trade—including retailers, wholesalers, designers, and manufacturers—polled for a new study found that most professionals are motivated to attend jewelry trade shows in 2023 and beyond.
The results of the concentrated study, conducted by THE MVEye (the jewelry industry research firm I cofounded in 1989), are very encouraging for the jewelry industry and indicate that despite the challenges faced by the industry in recent years, trade shows remain a vital part of the business landscape.
Eighty-six percent of the 122 respondents (roughly half of which were retailers) still think trade shows are “very” or “somewhat” important for the jewelry and watch industries, and 82% of companies will attend or exhibit at a jewelry trade show in 2023.
Respondents said JCK Las Vegas—the biggest U.S. show by vendor count—is the show they attend most. Sarin Bachmann, group vice president of RX Jewelry Portfolio (the company that owns the JCK Show) says, “We are excited to see the results of this study, which mirror exactly what we’ve been seeing. Trade shows have become increasingly important for professionals [who want] to stay connected to the latest trends and invaluable face-to-face business opportunities.”
In terms of spending, 28% of retailer respondents say they will place orders totaling $100,000-plus at trade shows in 2023, while 34% of non-retail respondents say they will spend $100,000-plus to attend and exhibit at shows. Forty-three percent of respondents will send 1-2 people from their company to a show this year.
Key reasons to attend a show included: placing order, finding new vendors, seeing the latest trends and styles, connecting with other professionals, seeing the latest trends and styles, meeting with customers, attracting new customers, and learning something new.
Jeff Adwar, CEO, Overnight Mountings, a veteran exhibitor of several trade shows, says the events keep his business, and viewpoint, modern. “I’ve been in the jewelry industry for 40 years and I still learn something new at every trade show. We meet with existing and new customers and get a chance to show our newest products and services. For retailers, it’s an opportunity to find new vendors, new styles, and network with other industry professionals which will help their business thrive in the future.”
And that’s a critical (and intangible) finding from the research. Running a thriving jewelry business requires an innovative mindset—something you can’t fuel solely just talking to yourself or the people surrounding you in your business.
The Zing Report readers can download a free copy of the report here.
Photo: A garland-strewn gazebo at the Couture Show in 2022 (courtesy Couture Show)