Marketing and promotional efforts by International Jewellery Tokyo’s show management have paid off handsomely and the IJT 2011 concluded with great success in Japan recently. Diamond World reports.

The 22nd edition of the International Jewellery Tokyo (IJT 2011) was held in that city from January 26 to 29, 2011 and concluded successfully. A total of 35,902 visitors came to see and buy goods from 1,267 exhibitors during the four day fair; both figures were marginally up from last year. The IJT 2010 attracted 35,763 buyers and had the participation of 1,257 exhibitors.

The general anxiety of participants, caused by the ongoing dismal economic situation, changed rapidly seeing the vibrancy of the show created by a large number of buyers thronging the aisles of the show.

Show organizers Reed Exhibitions Japan Ltd. and Japan Jewellery Association attributed the buzz to the vigorous visitor promotion undertaken by the IJT Show Management.

“Every year, we conduct extensive promotion to a huge number of prospective buyers from around the world in our database,” said Fumimasa Doi, Show Director. “For our selected “Premium Buyers”, whose number reached 1,200 this year, Show Management extended special invitations and perks as well as offered special services such as providing information about products/companies that matched the request of buyers so they could easily source on-site. In addition, to help buyers carry out effective business negotiations, our bilingual staff conducted specialised tours by leading buyers to individual booths and introducing them to the key persons. Many overseas buyers said that this service helped them to conduct smooth business negotiations with companies they met for the first time.”

Doi attributes the keen interest of foreign buyers to various reasons, pimary amongst them being the high quality of Japanese products. “Like cars and electronics, Japan’s jewellery also enjoys high reputation for its quality,” he said. “Secondly, diamonds and pearls in Japan are becoming price competitive, so IJT presents a good sourcing opportunity for overseas buyers to buy products at good prices.” He also felt that the growing preparedness of the Japanese exhibitors by hiring staff who can speak in English or Chinese also helped boost sales to overseas buyers greatly.

The rapid growth of the Chinese market has led the IJT show management to specifically target buyers from that country, which strategy proved to be correct as exhibitors reported good business with them. “Over 400 Chinese buyers came to the show as Premium Buyers this year,” Doi remarked. “We collect vouchers from our Premium Buyers indicating their purchases to assess the results of the show, and Chinese buyers showed especially strong interest in high-end jewellery including those with large diamonds and pearls, as well as platinum and gold jewellery.” In fact so important is this segment perceived that the show management has changed the dates for next year to January 11-14, 2012, so as to avoid a clash with the Chinese New Year.

On the show floor, jewellery between US$ 500 to 1500 is reported to have dome well, as did semi precious colouredstones and fancy cloured diamonds. Diamond sales however were said to be slow. Italy received the Pavilion of the Year award.

Some Participants’ Views

Dynamic International (Japan) Inc

The company deals in natural fancy diamonds and fine jewellery made in 18 k gold. According to Raja Malpani, Japan is a good market for goods between USD 500 to USD 1500. It is a large market which cannot be ignored. “We cannot expect wonders but we got a decent response,” he says. “We are exhibiting and catering to this market from many years, and we have the correct merchandise for this market.”

Suren Kothari is of the opinion that Japan is a sinking boat and people have no savings. He has been living in Japan for the last 17 years. Kothari provided an interesting insight when he pointed out “Consumers in the age group of 50-80 years represent a good market and buy high end goods”. He deals in high end goods in fancy colour diamonds, and says he has exclusive clients and has a good base in Japan.

According to Yukie Demiya, of this high end pearl company which only deals in Japanese pearls “the pearls market is very promising”. The company has clients from US and Europe. “Customers who know their worth, value Akoya and Kasumigaura pearls, and come to Japan for it,” he says. “They are exclusive and superior to Chinese or Tahitian pearls.”

Murata Jewellery

Koichiro Murata of Murata Jewellery says the young people mainly buy jewellery in 10k to 18k gold, in a price range from USD 100 to USD 500. Pedants and necklaces are more in demand with small diamonds. The company is a manufacturer and wholesaler with a business established for 31 years in Japan. From last year, they see lot of Taiwan and Korean customers in the show, says Murata.

VN Trading

Nitin Khinduka opines that “The Japanese market is a stable one with its own particular likes and dislikes”. They deal in fancy colour diamonds, black diamonds and precious gemstones. Japanese consumers were in a better position to make purchases last year due to a strong Yen and as overall, prices of polished diamonds were lower. This year, Khinduka says, has been very difficult for them, as prices have gone up.

According to Rajesh Jhaveri, “Japan is has its own place in the world market”. Bridal category is the untapped area, he says, which was also researched for Forevermark by DTC. Rosy Blue has an office for the last 20 years in Japan and receives decent response. But he also feels that the economy is stagnant and there is no growth.

The representative of Karp in Japan says, “We participated after 5 years in this show. The Japanese market has still to recover and gain the buying power for diamonds.” He felt that though the market for semi-precious stones may be good, the same is not the case for diamonds.