5/27/2009 |

Opening Day Filled with Special Events, Networking and
  Key Consumer Insights on the Luxury Marketplace

(LAS VEGAS, NV May 27) - - -The opening day of the 10th edition of LUXURY & PREMIERE  found many exhibitors pleasantly surprised in light of the current economic environment. While the Luxury market has unquestionably been hit by the nation’s economic woes, buyer turn-out was higher than anticipated and the overall atmosphere was optimistic. Some 14 companies were recognized for their participation in every LUXURY & PREMIERE event since its inception.

“We have recognized the economic times and its impact on our customers’ businesses,” said John Tierney, Event Director, LUXURY & PREMIERE. “In light of this, we have made enhancements to the events keeping our customers’ needs top of mind and offering programming and amenities to stimulate the buying and networking dynamic that is so unique to the LUXURY & PREMIERE  event.”
  “Luxury has been on a starvation diet,” said John Clarkin, national sales director, W Magazine, who presented W’s latest consumer insight research on the Luxury market. “Luxury has been through a tough run, but there seems to be Luxury consumer ‘constants’ that should provide some bright spots for the remainder of the year,” he said.

During Clarkin’s keynote presentation, he presented the results of the survey and then discussed some of the prime motivation for jewelry and watch purchases and how retailers can take advantage of these insights. He listed the luxury constants as:
· The primary luxury customer is the woman, whose average age is 43 with a household income of $225K;
· There is still price-sensitivity in the market and women are looking for value in a luxury jewelry purchase;
· There is still a desire for unique and special pieces driven by style, design, generational and one-of-a-kind designs;
· Women consumers are not ‘trading down’ -  they are still purchasing the higher- end stones, platinum, diamonds, gold, etc. and they are purchasing with confidence;
· Even though the economy is down, the luxury segment has not been ‘tarnished’ there will still be the desire for those consumers who can afford luxury to purchase luxury.

Other insights that were presented during the keynote provided good information for retailers to heed in getting consumers to purchase. These included: Demonstrating intrinsic value and recognizing price sensitivity; offering discounts, bonus points and affinity programs; and in-store events that have a charitable tie-in or provide special access or a unique experience such as a trunk show, meeting a designer or a sneak-peek, “First Look” or the opportunity to pre-order a special piece.

Immediately following the keynote, a panel representing retailers from all across the US shared their opinions and advice on topics of importance. Moderated by Robert Bridel of Robert Bridel Associates, a management consulting firm, the panel responded to questions about how the economy has changed their businesses, consumer trends, gaining market share and the new ways of marketing their businesses; consumer loyalty, branded jewelry and keeping in-store sales staff motivated and productive. Sharing their comments were Aida Alvarez, Mayors; Jeff Badler, Maurice Badler; Bill Bennion, Bennion’s Fine Jewelry; Randy Cooper, Randy Cooper’s Fine Jewelry and Jennifer McCullough, Smyth.

 “LUXURY & PREMIERE is very intimate and a great environment to meet new suppliers to do business,” said Jim Alanti, Manager of Simmons Fine Jewelry, Meridian, Idaho. “Everyone here is upbeat and excited about the future.”
  “LUXURY & PREMIERE is my favorite show because it’s so organized and easy to conduct business,” said Teddie Gause, owner, Gause & Son Jewelers, Ocala, FL. “The LUXURY & PREMIERE  staff treat us in the same way we treat our customers.”

“Coming to the show, our expectations were moderate and we were uncertain what we would find,” said Amir Goldfiner, Rahaminov Diamonds. “The first few hours of the show were really great.  We were extremely pleased because people were truly excited by our new collection.”

Other special events that occurred included an afternoon snack provided by Modern Bride and cocktails featuring the American Gem Society’s (AGS) signature drink in the afternoon. After a day of buying, the TAO Beach Party, sponsored by the Robb Report, presented another opportunity to celebrate the industry as some 400 retailers and manufacturers gathered ‘pool-side’ for this annual events.
LUXURY & PREMIERE continues through Friday, May 29 when JCK Las Vegas opens and continues through Tuesday, June 2 at the Sands Expo Convention Center. For up-to-date information about the events, visit www.jckshows.com

PRODUCED AND MANAGED BY
JCK Events are designed to serve the worldwide jewelry industry by offering the most comprehensive and complete buying and selling opportunities on a business-to-business basis. The events provide the jewelry industry with dynamic educational sessions, terrific networking events and unmatched exhibit areas showcasing a selection of the world’s most exciting jewelry designers and brands. The JCK portfolio of events are produced and managed by Reed Exhibitions, the world’s leading exhibition and conference organizer. For more information on any of the JCK Events, visit www.jckshows.com or simply call 1-800-257-3626.

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