Connect with us

Press Releases

CIBJO Releases Technology Special Report

The report focuses on disruptive technological breakthroughs in the jewellery and gemstone industry and trade.

mm

Published

on

CIBJO Releases Technology Special Report

(PRESS RELEASE) MILAN, ITALY — With fewer than four weeks to go to the opening of the 2021 CIBJO Congress on November 1, 2021, the fifth of this year’s CIBJO Special Reports has been released. Prepared by the CIBJO’s new Technology Committee, headed by Stephane Fischler, the report focuses on disruptive technological breakthroughs in the jewellery and gemstone industry and trade, for which in the words of the author “it is possible to talk about the way things were before the innovation and how they were afterwards.”

As Mr. Fischler notes, for much of its history disruptive technological breakthroughs were concentrated in jewellery’s mining and manufacturing sectors, whereas the wholesale and retail trades continued to operate according to tried and proven business models. That began to shift with the growth of the Internet as a sales tool and the start of social media marketing, but even then many remained apprehensive because of uncertainty whether consumers were ready to purchase high-priced items online. However, 2020 and the start of the global pandemic proved to be a gamechanger. “With trading establishments intermittently prevented from opening their doors because of COVID-19 lockdowns and, even when they were not, restricted in the number of people they could permit on their premises, online marketing and sales capacity became a necessity, rather than an alternative for the more tech-savvy,” he writes.

The changes taking place in the trade, and particularly at the retail level, have turned consumer data into one the industry’s most valued commodities, Mr. Fischler states. For an organisation like CIBJO, which is concerned with global practices, this raises new questions. “Standards need to be created for how [data] is handled. How should it be securely stored, analysed and ultimately used? These are discussions taking place across the tech-world, and issues of controversy confounding the industry, the public and government regulators,” he writes.

CIBJO congresses serve as the official gathering place for the World Jewellery Confederation’s global membership, and are also the venue for the annual meetings of CIBJO’s sectoral commissions, where amendments can be introduced to the organisation’s definitive directories of international industry standards for diamonds, coloured stones, pearls, gem labs, precious metals, coral and responsible sourcing, known as the Blue Books.

The CIBJO Congress is also where the programme of World Jewellery Confederation Education Foundation (WJCEF), relating to responsible and sustainable activities in the industry and CIBJO’s ongoing cooperation with the United Nations and its development programme is reported upon.

To download a full copy of the CIBJO Technology Committee’s special report, Click here.

Advertisement

Advertisement

SPONSORED VIDEO

Thinking of Retirement? This Jeweler Went for the Company That Shares His Values

Richard Frank of Goldstein’s Jewelry in Mobile, Ala., had worked in his family’s store since he was 13-years old. As its owner, he was proud to be at the helm of Mobile’s oldest jewelry store, an AGS, IJO and RJO member business. But there comes a time in every jeweler’s life when a decision must be made regarding the future. And for Frank, that meant turning the store over to new owners. He chose Wilkerson to handle the sale, a decision, he says, made a long time ago. “Their reputation is such that all the things we value are what they value,” he says. And the results surpassed Frank’s own expectations. Would he recommend Wilkerson for other jewelers who are considering a going-out-of-business or retirement sale? “If you’re contemplating a sale to maximize the return on your business, there is no one else in the industry that I could even think of recommending.”

Promoted Headlines

Advertisement

Advertisement

Advertisement

Subscribe


BULLETINS

INSTORE helps you become a better jeweler
with the biggest daily news headlines and useful tips.
(Mailed 5x per week.)

Latest Comments

Most Popular