VOD Dubai International Jewellery Show (VOD DIJS), the only consumer- and trade-focused jewellery show in the Middle East, was brought to a successful close on 17 November 2018 capitalising on the flourishing regional jewellery market. Show director Luca Veronesi tells Hong Kong Jewellery the development of the fair and the market situations facing the practitioners in the region.
How did the 2018 VOD DIJS fare?
The show performed in accordance with the current market situation, which saw preferences given to gold over diamonds. Cheaper jewellery was also preferred when compared to expensive pieces. We are very happy with how well several new exhibitors performed at the show.
How was the buying sentiment in general? What types of jewellery went particularly well?
The market actually remains stagnant. We have noticed that medium-range products suffered more, while more affordable jewellery performed well. Expensive jewellery has its own market that, while not booming, is still prevailing.
New initiatives were put forward to facilitate business and promote designs. Would you give a brief account on the new programmes and their effectiveness?
This year we ran the hosted buyer programme, inviting the most important buyers from specific countries selected by exhibitors. We started hosting buyers from central Africa, which was a highly appreciated move. Coinciding with the programme, we also activated the business matchmaking programme to facilitate trade meetings. Though the project is still in its early stage, we are already seeing considerable results.
The environment of exhibitions is changing. A number of buyers are seeking online to replenish their stock. How does it impact VOD DIJS?
We agree that the exhibition industry is changing and increasingly trending towards e-commerce. Interestingly, for the jewellery industry, one-to-one networking is still vital, and for consumers, being able to see, touch and try on the jewellery is also very important. At an exhibition, they can find much more varieties than in any malls or shopping districts.
How will VOD DIJS better engage with the information– and technology–savvy younger consumers?
As a starting point, we revised our marketing strategy, investing over 80 percent of our efforts into digital platforms. For the future, we are now working on a new project to strengthen the connection between digital and exhibition.
How is the recent development of the gold and jewellery industry in Dubai and the MENA region?
The gold, diamond and jewellery industry in the MENA region is experiencing a challenging scenario in which the traditional distribution system is affected by some uncertainties. The global economy, the introduction of VAT, the geopolitical situation and currency fluctuations are all factors that impact on business, where entrepreneurs have to be quicker and more efficient than ever to adapt their strategies to these continuously changing scenarios. (Photo courtesy: VOD DIJS)
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