RAPAPORT... Attendance is up over last year, breeding optimism about the approaching holiday season.
The major buzz in the aisles of the JA Special Delivery Show, held from October 29 through 31 at the Jacob K. Javits Convention Center in New York City, was that buyers were present and for the most part, business was bustling. Many of the 450 exhibitors were visibly busy all three days and most expressed satisfaction at the turnout. “Cash & Carry” was the theme of the show and there were reports of booths selling all available stock and requiring additional shipments of product. As a result, more and more industry insiders are growing optimistic about the holidays.
According to show management, a total of more than 4,350 retailers attended the show, which, they estimated, reflected a 14 percent increase in registration for this year. “We are thrilled at the increased registration at the 2006 JANY Special Delivery Show,” said Drew Lawsky, group show director for JA New York Shows. “Retailers came here to make significant purchases and we are looking forward to building on the success of this event.”
APPOINTMENTS VS. SPONTANEITY
Although the “Cash & Carry” tagline would appear to imply a certain degree of spontaneity in terms of business transactions, a number of exhibitors and vendors indicated that the old trade show axiom that “planning ahead and making appointments will bring success” held true for this event as well. “I had a couple of appointments, and that was about it,” said Nilesh Jhaveri of importers Atit Diamond Corporation. “Overall, I am pleased with the results. But, if I hadn’t had a couple of appointments, the show would have been a disaster.” At the same time, Steve Mirza, manager of Diamond Jewelers in Forestville, Maryland, said he mostly did business with current suppliers and “made a couple of large-scale purchases, mainly from existing accounts.”
Not everyone, however, felt that such a structured approach was necessary. “It is a great place for us to attend because we can view exhibitors without an appointment,” said retailer Heather McGonigal of Ultra Diamonds in Chicago, Illinois. “So, if something catches my eye, I know that I will be able to make a purchase during the duration of the show.” Israel Itzkowitz of jewelry manufacturer Quadamas said that his company opened several new accounts, including one with a national, 140-store chain.
OVERALL SENTIMENT GOOD
Most vendors reported that, in general, the show was at least somewhat of a success, although there were those who resisted making comparisons to years past.
“It was a good show, although it is too early to make comparisons to last year; we are still going through the numbers,” said Justin Arzy of Justin’s Fine Jewelry, located in Los Angeles, California. “Overall, we did very well with our finished jewelry. We are an established business with established customers, which definitely helped.”
Another source, who wished to remain anonymous, observed that the show was mainly a regional show. He did, however, estimate that the business his firm did was about even compared to last year.
SHOW TRENDSPerhaps predictably, given the unsteady economy, some retailers appeared to focus on the always-popular closeout booths and others had similar price-point expectations. However, while many closeout booths were busy, it is important to note that not every single attendee was focused on price. Tod Michel of gold jewelry supplier Leslie’s, in Greenwich, Connecticut, reported that people were buying items with higher price points.
In terms of product category, retailer Diane Katzeff of Moshe Fine Jewellery and Diamond Merchants in Toronto, Canada, indicated that her customers were expressing interest in colored stones and long earrings. Many additional buyers said that Journey jewelry was quite popular as well.
Mirza believes that the trends for the upcoming holiday season will feature mostly diamonds. “Circle pendants are hot, as are rings with princess-cut center stones,” he said. “Pearls are also popular.”
Loose diamond dealers — perhaps because of the unfinished nature of the product and this season’s emphasis on price points — in general did not fare quite as well as the rest of the vendors. “This is not a show for loose diamonds,” commented Raj Rayappa of Reuven Kaufman, Inc. “This show is mainly for jewelry. For that category, traffic has been good and people have been writing orders.”
Article from the Rapaport Magazine - December 2006. To subscribe click here.