Discussion on how to sell diamond jewellery to Millennials unfolds

 Discussion on how to sell diamond jewellery to Millennials unfoldsA seminar entitled “The Challenge of Marketing to Millennials: The Next Great Consumer Generation,” was co-organised by CIBJO and Fiera di Vicenza and threw light upon the way in which diamond jewellery should be promoted and sold. The seminar took place on September 4, 2016, the second day of the VICENZAORO September trade fair in Vicenza, Italy.

The Millennials are those born between 1980 and 2000, and are about to move into their prime spending years. The unique experiences of Millennial consumers will change the ways the jewellery industry promotes and sells, and the manner in which it communicates with its customers. This will require companies to examine how they do business. Millennials are also the most heterogeneous generation and are practically live in a digital society.

“When we market our products to Millennials, we no longer are able to get the exclusive attention of our clients,” said CIBJO President Gaetano Cavalieri, welcoming the participants. “They have easy access to large amounts of information. They are more inclined to do research before buying, and they consult with their friends before making a decision.”

Millennial consumers are considerably more likely to consider issues such as product integrity, sustainability and social responsibility when deciding on a purchase.

“Already today, Millennials represent more than $2.45 trillion in spending power, and it is a number that will grow substantially,” said Corrado Facco, Managing Director of Fiera di Vicenza, who also serves as President of CIBJO’s Trade Show Commission, during his welcome to seminar participants. “According to a research carried out by Cone Communications, up to 70 percent of them will spend more on brands that support causes they care about.”

At VicenzaOro September, CIBJO and Fiera di Vicenza convened a panel of experts including: Ella Goldner, a Global Strategy Director at IPG Mediabrands in London; Jean-Marc Lieberherr, the CEO of the Diamond Producers Association; Costantino Papadimitriou, responsible for global communication strategy and campaigns, brand innovation, at De Beers’ Forevermark; Roberto Coin, President, owner and visionary of the Roberto Coin Group and brand. Steven Benson, CIBJO’s Director of Communications moderated the seminar.

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