The world’s diamond and jewelry trade heads back one more time to Las Vegas’ golden Mandalay Bay resort this June, as next year the United States’ premier jewelry trade show, JCK Las Vegas, will be relocating next to the Sands Expo and Convention Center, which is the site where the event originally began 22 years ago.
The swansong year at the Mandalay Bay, which will take place June 1 through June 4, is forecast to be a blockbuster, with more than 2,300 exhibiting companies and some 23,000 professional buyers. About 9,400 independents, majors, department stores, boutiques and galleries will be flying into the city, with 23 percent of them coming in from outside of the United States.
According to a report just released by De Beers, worldwide diamond jewelry sales grew by about grew 2 percent in 2017 to an all-time high of $82 billion, largely as a result of a strong U.S .market, where demand rose 4 percent to $43 billion on the back of a resurgent economy and robust consumer confidence.
The world’s most important diamond market, which last year comprised 52.4 percent of all diamond jewelry sales globally, was the leading driver of growth for the fourth consecutive year. And not no longer was a market solely driven by matrimonial jewelry, with De Beers reporting that the phenomenon of consumers buying pieces for themselves expanded to 33 percent of all US diamond-jewelry purchases.
“People around the world are spending more on diamond jewelry than ever before, and it’s encouraging to see consumers in the U.S., the world’s largest and most mature market, leading the way,” said Bruce Cleaver, De Beers CEO.
And, by all counts, more records are likely to be broken in 2018. According to the federal Bureau of Economic Analysis, the U.S. economy remained in gear during the first quarter of 2018 with gross domestic product expanding at a pace of 2.3 percent, which was the strongest first-quarter reading in three years.
The economic fundamentals continue to be positive. There is rising household net worth in the United States, corporate profits are good, consumer sentiment is still at a cycle high and there are impressive gains in payrolls and the labor force participation rate.
The Conference Board is projecting strong economic growth for 2018 and 2019, with GDP rising to 3.1 percent in the second quarter and finish 2018 up 2.9 percent. Consumer spending is likely grow by 2.6 percent for the year, and consumer confidence will remain at near 18-year highs.
MID House of Diamonds will exhibit at JCK Las Vegas 2018 in in the Diamond Plaza, at Bayside, Level 1, stand B52017. Visitors to the show can pre-arrange meetings at the MID booth by contacting the company’s offices in New York, telephone: 1-212-391-1121, email: [email protected], and Los Angeles, telephone: +1-213-689-4355, email: [email protected].
MID House of Diamonds’ booths at the JCK Las Vegas show will feature a large collection of white and fancy-colored loose diamonds, including blue, pink, green and yellow, in all shapes and sizes from 0.30 carats to plus-10.00 carats. All eight of the company’s international sales offices will be sending much of their top-quality material, among them a selection of rare GIA certified loose diamonds. Also on exhibition will be a collection of unique, high-end diamond jewelry, including rings, necklaces, bracelets and earrings, featuring white and fancy-colored diamonds.
Visitors to JCK Las Vegas are invited to discover what MID is offering by way of the company’s new MID HOUSE OF DIAMONDS app. Designed for smartphones and tablet computers using the Apple IOS and Android operating systems, it has been created especially to meet the needs of the professional diamond trader, tapping into the massive global inventory of merchandise of one of the world’s largest diamond suppliers. It is a fully-functional ordering system. Users are able to conduct detailed searches for specific loose diamonds, receive real-time responses, visually examine the stones and relevant grading reports, view prices and place orders and requests. During shows at which MID exhibits, it will provide information about booth location, directions and live updates.
The new MID HOUSE OF DIAMONDS app can be downloaded free of charge from the Apple and Google Play stores.