Industry Observation
Since 2023, global jade and jewelry exhibitions and industry events have shown a strong recovery, with significant increases not only in the number of exhibitors and visitors but also in transaction volumes, repeatedly setting new records. This not only signifies a substantial boost in market confidence but also foreshadows new opportunities and challenges for the jade industry in the post-pandemic era.
Taking the 'China International Jewellery & Jade Expo' held at the Shanghai World Expo Exhibition & Convention Center in May this year as an example, data released by the organizer, the Gem & Jewelry Trade Association of China (GAC), showed that this exhibition brought together nearly 1,200 exhibitors from 15 countries and regions worldwide. The exhibition area reached 52,000 square meters, a 15% increase compared to the same period in 2022. According to the exhibition organizing committee, the five-day event attracted over 95,000 professional visitors and consumers, with preliminary estimated on-site transactions exceeding 2.8 billion RMB. Transactions of high-end jadeite and Hetian jade pieces were particularly prominent. Renowned jade carving master Mr. Li Mingde, in an interview with 'Global Jade Network,' stated: 'The atmosphere at this year's exhibition was very enthusiastic. Many buyers showed strong interest in high-quality, collectible jade, and several of my new works found buyers on the opening day.'
Concurrently, the Hong Kong International Jewellery Show also reported positive news. Despite global economic uncertainties, the March exhibition still attracted approximately 2,500 exhibitors from over 40 countries and regions and welcomed more than 60,000 international buyers. Mr. Yang, Chairman of the Hong Kong Trade Development Council's Jewellery Advisory Committee, pointed out: 'Demand from the Asian market, especially mainland Chinese buyers, remains robust. They play a crucial role in driving high-end jade and jewelry transactions. We observe that the younger generation of consumers shows unprecedented enthusiasm for jade pieces that combine traditional cultural connotations with modern design aesthetics.'
Notably, the hybrid exhibition model, integrating online and offline components, is becoming the new normal. Many exhibitions not only provide physical booths but also expand their reach through live streaming, VR tours, and other technological means. For instance, during the 'Guangzhou International Jade Fair,' the organizers collaborated with platforms like Douyin and Kuaishou, inviting well-known jewelry influencers to provide live guided tours and product promotions, attracting millions of online viewers. Some exhibitors even saw online sales surpass their offline figures. This model not only reduces exhibition costs but also provides more convenient procurement channels for global buyers.
Data analysis reveals several new trends in consumer demand for jade products: Firstly, personalized and customized services are increasingly popular. Secondly, younger consumers are more focused on the cultural attributes and fashion appeal of jade, with the combination of traditional jade with modern materials and craftsmanship becoming an innovative direction. Finally, sustainability and traceability are emerging as new selling points in the high-end jade market, with consumers increasingly concerned about the origin, mining methods, and environmental and social impact of jade.
Looking ahead, with the gradual recovery of the global economy and the easing of travel restrictions, jade and jewelry exhibition activities are expected to maintain their growth momentum in 2024. Major exhibitions will also focus more on providing diversified services, including industry trend forums, designer salons, and appraisal services, to meet increasingly complex market demands. However, the industry also faces challenges such as volatile raw material prices, international trade frictions, and intellectual property protection, which require concerted efforts from all industry stakeholders. The future of the jade industry will seek a new balance between innovation and tradition, online and offline, and globalization and localization.