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Forum on “Innovation of Jewellery Sales Channels”

The 4th Guangzhou International Jewellery and Diamond Conference (2019)

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The Way Forward of Jewelry and Diamond Marketing

publish:2019-12-03

During the 4th Guangzhou International Jewellery & Diamond Conference 2019, the themed forum on “Innovation of Jewellery Sales Channels” was held at Guangzhou Diamond Exchange on the afternoon of November 22. Into the era of 5G commercialization, the jewellery and diamond sales is embracing an unprecedented opportunity. Five industry gurus led the audience to discuss the core question of from “what to sell” to “how to sell”, exploring for new gold mines of traffic.
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Let’s have a glimpse of the exciting moments of the forum!
 
 
Topic One:Jewellery Exhibition in the Digital Age
 
At this forum, Mr. Pascal Béchu, commercial director of Baselworld, presented information about jewellery exhibitions in the digital age in four aspects.
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Baselworld predicted that by 2020, the value of the jewellery market will exceed 250 US dollars and the jewellery market will grow by 40% from 2013 to 2020. Jewellery will become the fastest-growing luxury category, with a promising market outlook. Factors behind the growth include the increase of branded jewellery, resetting of sales channels (online sales, single/multiple-brand retail experience, and omni-channel sales), driving forces of technology, fashion, and novelty. In the 2020+ strategy of Baselworld, B to B is still the most important part, with an increasing proportion of the KOL, C-end consumer, and collector groups and additional modules of innovative display, the virtual experience zone, and community communication in the digital aspect.
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Baselworld 2020+战略
 
Baselworld 2019 attracted 520 exhibitor brands from over 25 countries and up to 82,000 retailers, distributors, and consumers, and was covered by TV, radio, online, and social media for trade and consumers from over 65 countries and regions. During the exhibition, it had over 23 million views on the European social network (Facebook, Twitter, and Instagram) and over 11 million views on the Chinese social media (Weibo and WeChat).
 
Baselworld estimated that in 2020, the number of exhibitor brands will increase by 15% to 600 to 650 and the number of visitors up by 10% to 90,000, attracting over 10,000 potential collectors.
 
Following the trend of the rapid development of information technology, Mr. Pascal Béchu focused on forging brand-new exhibitions by combining digital and physical scenarios, which includes (1) the online experience platform to realize the simultaneous real-scene exhibition experience of the same scenario with the communication by streaming videos and information sharing; (2) open booths to improve visitors’experience of the products and the brand and jewellery fashion shows, conferences, and lectures to strengthen the interaction with terminal consumers; (3) promoting the digital influence by providing the offline printing and online outcomes of the news center with better work conditions for better coverage of programs on all channels, providing the media center with abundant and exclusive contents for TV and digital channels, and granting KOLs and bloggers access to exclusive contents to share the experience of Baselworld; and (4) community functions to generate new technologies and channels of traditional industries, trigger the digital transformation of the industry, and expand jewellery exhibitions with digitization with community gathering and connectivity.
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The sharing by Pascal Béchu brought us more insights and thoughts on the presentation forms of jewellery exhibitions in the digital age. For jewellery exhibitions in the future, can we have new development forms and ideas?
 
Topic Two:Diamond Investment and Brand Co-existence
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Ronen Priewer, founder of CEDEX and CEO of Masaor, shared with the audience on diamond investment and brand co-existence.
 
Ronen Priewer pointed out that the indispensability of diamond differs them from other commodities such as gold and brings difficulties in unified pricing and 4C standards. Specifically, this karat of diamond is different from that karat of diamond. Moreover, the diamond market lacks of liquidity, where we can buy retail diamonds but find it hard to resell them at a reasonable price.
 
In order to tokenize diamonds and turn them into commodity assets, two major problems need to be solved. Firstly, a process shall be set to transform diamonds from unique assets into replaceable assets and define their value in a transparent and clear manner. Secondly, a transaction platform shall be established and a bilateral market shall be provided, where traders can resell and invest the diamonds they hold.
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Diamonds have huge potentials to become the next generation of investment category. The CEDEX platform is established specially for diamonds. Based on blockchain, it links the current ecosystem of diamonds with the developing financial market, proposes the directions for development and innovation of diamond investment in the future, and enables diamonds to transform from unique assets to replaceable assets with clear value definition in the tokenization mode.
 
The four pillars of CEDEX are the patented technology of DEX (an open and transparent patented algorithm of machine learning with a unified standard), the blockchain technology, tokenization of diamonds, and the CEDEX Coin. The ultimate goal of cedex.com is to fill the gap between the traditional diamond industry and the more innovative financial market, gathering diamond holders who want to sell their assets and traders who want investment diversification and hedge, where the latter can include diamonds as investment assets and invest in a safe and secure, transparent and open manner.
 
Besides, Ronen Priewer introduced the creative brand Masor with major business breakthroughs in Hong Kong. Masor has various kinds of creative diamond-featured products, which integrate the element of diamonds into wrist belts, books, pens, wallets, and passport cases as part of the shining life.
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Masor部分产品图
 
Topic Three:New Play of IP Product in Jewellery
 
Mover Culture, the leading brand of IP fashion jewellery, appeared at the forum on innovative channels. Its general manager assistant Ms. Sarah Chan gave a vivid introduction to how Mover implemented “IP + jewellery”.
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Mover Culture is a crossover and joint fashion brand of pan-entertainment culture and derivative artworks, with its products centering around mining the core value of pan-entertainment IPs. Combined with its exclusive original derivative artistic fashion jewellery, it attracts a great number of fans and fashion experts. By building the Internet information mode of fan economy, it keeps deepening interaction experience and brand collaboration, sets up global channels from online to offline, and realizes the maximum value transformation of pan-entertainment derivative artworks.
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How to lead IP fashion jewellery? The answer of Mover Culture is legitimate IP authorization + fan traffic of the IP + exclusive patented products + global event marketing. Mover Culture has cooperated over 100 copyright IPs and established global fan clubs. The limited-edition faction rings of World of Warcraft it released set the record of the fastest sales of 1000 rings in one minute and they sold out in ten minutes. The exclusive patented-design knitted wrist belt series of The Avengers 4 set a good performance of a monthly sales volume of over 200,000.
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 Mover also has the 3A players’ experience zone, perfectly combining IP fashion jewellery + interaction experience + internet-famous place. It creatively employs the modes of authorized cooperation, collaborated promotion, product placement, store marketing, and self-service terminals, breaks the traditional design concepts of IP products, interprets the implementation of IP jewellery in a brand-new manner, and achieves one sales legend after another.
 
Topic Four:The Future of Jewellery Live-streaming
 
The Double 11 Shopping Carnival has just dropped the curtain and the Double 12 Shopping Carnival is under preparation. At this point, Zhao Yuanyuan, head of Taobao Live of Alibaba Group attended the event to talk about “the future of jewellery live-streaming”, with the most direct first-hand official data analysis.
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 According to the statistics, the daily exposure of the above-the-fold of the Taobao app that we usually browse is over 100 million, with a daily trading volume of over RMB 20 billion yuan. The trading volume of jewellery is RMB 2 billion yuan. There are nearly 20,000 jewellery live-streaming shows every day, with a monthly trading volume of RMB 2 billion yuan. Jewellery live-streaming has occupied half of the industrial live-streaming. New shopping experience is change consumers and merchants.
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 Taobao Live is part of the Wanghong (Internet celebrity) economy 2.0. The styles of hosts are diverse. Over 100 hosts have a monthly income of over RMB 1 million yuan. The “100 Million Yuan Club”has over 300 live-streaming shows in average every year. 50% of the 81 100-million-yuan merchants are from the jewellery industry. The highest unit price of the year, RMB 2.4 million yuan, is from jewellery (a jade bracelet from Jieyang). Buyers with the annual purchase of over RMB 20 million yuan (in one category) are all from jewellery.
 
In the overall live-streaming section, the trading volume of jewellery occupies up to 35%, and 70% with garment and women’wear, highlighting the beauty economic effects. The trading volume of jewellery live-streaming occupies 51.8% of the total volume of jewellery. Live-streaming is overwhelming in the jewellery industry, with its own characteristics. 60% trading volume of TOP 100 merchants is from live-streaming, 47% of which is contributed by the performance of base merchants.。
 
In the just-finished Double 11 competition, jewellery live-streaming on Taobao set the highest per customer transaction of RMB 3.3 million yuan. On the Double 11 of 2019, the total trading volume of the jewellery industry live-streaming is RMB 700 million yuan, up by 159% from the RMB 270 million yuan in 2018. The trading volume of jewellery base merchants occupied 60% of the overall section, with a total trading volume of nearly RMB 400 million yuan, where the merchants show a significant trend of clustering. On the day of Double 11, there were 7 bases with a trading volume of over RMB 20 million yuan. Merchants of goods with specifications had the highest explosive growth rate in the promotion, including diamonds and color jewel.
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With the evolution of the live-streaming forms, the traditional jewellery market has gone through traditional markets, walking live-streaming, stores, multi-live-streaming rooms, and live-streaming bases. It has brought the evolution of revenue sources: from “offline booths only” to “offline + Taobao Live”, then to “Taobao shop + Taobao Live”.
 
Live-streaming bases have abundant and stable supply of goods and the advantage of place of origin and gather jewellery professionals, which are equipped with perfect basic elements of the ecosystem. By September, 2019, Taobao Base has 20 industrial belt bases in China, including 9 jewellery live-streaming base. Apart from the newly-established Panyu Live-streaming Base, the 8 major bases have a total trading volume of RMB 1 billion yuan.
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The live-streaming forms of jewellery are highly diverse, including multi-cam live-streaming, live-streaming of base masters, and interaction live-streaming with overseas mines, where consumers can experience the culture and charm of jewellery like personally on the scene. On the 9th of every month, Taobao actively promotes the “Public Jewellery Festival”, where it gives full play to the abundant supply of goods of industrial clusters and the advantage of place of origin, aims to present quality live-streaming contents focusing on promoting influence and sales, and improves the consumption experience.
 
The times develops with innovation and sales channels change quickly. We believe the prospects of jewellery live-streaming are promising. Let’s expect the 2.0 mode of jewellery live-streaming bases to be kicked off at the beginning of next year!
 
Topic Five:Short Video Sparkled the Diamond Ecosystem
 
Mr. Lu Zhongming, founder of Yishanghui, who has been engaged in entrepreneurship training for more than 10 years and started focusing on the study on short videos on Tik-tok, delivered a speech titled “Short Video Sparkled the Diamond Ecosystem”. According to the statistics, the number of retail stores closed in the world in the first 8 months in 2019 was 29% more than that in the whole year of 2018. Retail giants are embracing the Internet, which indicates the end of the era of “lying and making money”. Into the 5G era, new media such as short videos have a fertile land.
 
Yishanghui is committed to building a one-stop service platform for industrial community economy, to fully empower enterprises and entrepreneurs with new media such as short videos, live streaming, community, and information flow. Mr. Lu introduced several industrial belts empowered by “short video + Internet celebrity + live-streaming base project”.
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Mr. Lu also shared the new method of “short video + diamond marketing concepts”. The jewellery and diamond industry has a good “online gene”, so short videos can empower jewellery and diamond. Short videos (IPs, sitcoms, and product display) can add marketing concepts, such as narrating the fate of each diamond 1 billion years ago or a rough diamond cut into two diamonds, to witness the long-lasting love. It can be directed to WeChat or WeChat official accounts for sales. Consumers can participate the whole process safely and assuredly and witness the quality guarantee.
 
The new method of “short video + diamond” still has much creativity space for imagination. With the group purchase center built by the exchange platform and diamond mine owners, diamond processors, and jewellery manufacturers, content marketing will be given full play to gather the B-end and C-end consumers and customers, to jointly build a new ecological service platform in the RMB-80-billion-yuan jewellery and diamond consumption market.
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