Mumbai: A panel of speakers from different markets across the world who participated in a Webinar organised by The Gem & Jewellery Export Promotion Council (GJEPC) to discuss the “International market scenario & way forward post lockdown” said that the future would see a greater fusion of online and offline sales on both B2B and B2C platforms.

The panel comprised David Brough (UK), Julius Zheng (China), Jeremy Keight (Australia), Alex Popov (Russia), Irina Litvinova (Russia), Sophiya Silvert (Belgium), Holly Granofsky (USA), and Nancy Robey (USA). The session was Moderated by Sohil Kothari.

Some of the other key takeaways from the webinar were:

• For India, exporting designer silver jewellery – studded with either gemstones or diamonds – can offer a fantastic opportunity for growth.
• Platinum is currently trading at half the price of gold. There’s a huge opportunity for PGI to scale up demand as it is a desired metal for engagement rings.
• With severe lockdown impositions the world over, the jewellery industry should bank on online channels to stay in touch with its vendors and consumers. The digital arena will be transformed in a big way.
• This is the time when manufacturers can use the opportunity to partner with retailers directly, study markets, and start promoting products online. But it is crucial to have one’s products shot well against white background and produce 3D videos to highlight the design details. This will, in turn, be an investment in the publicity of one’s product.
• Designs have to have the ‘wow’ effect and will be the key driver for sales.
• The thrust has to be on marketing to fend off competition from other markets; post Covid-19, jewellery sales will be driven by social media and jewellery trend forecasters and influencers.
• With international and domestic travel restrictions imposed, it is important to keep an eye on when retailers are opening doors and in which regions. Adopt ways to keep your clients engaged with effective virtual communication. Keep cutting costs, but ensure the visibility of your brand.
• There may be a surge in emotional purchases post the pandemic assault to celebrate togetherness and survival.