San Diego, CA (PRWEB) May 7, 2010
The 2010 CIBJO (World Jewellery Confederation) Congress was held in Munich, Germany, in mid-February. The overall consensus was that the luxury market is holding its own despite the recession, but CIBJO President Gaetano Cavalieri said "We are not out of the woods yet, and should not expect a full market recovery before 2011. We should also not forget that we are a luxury product industry, and our merchandise, therefore, is unlikely to ever head the list of consumer priorities.”
That doesn't worry freshwater pearl and gold jewelry wholesaler CathayGems, according to spokesperson Lan Toma. "We have a niche market - consumers who know good value when they see it, and appreciate the uniqueness of our jewelry. We actually had a 15% increase in sales last year, where the jewelry and luxury market as a whole dropped nearly 18%."
Dr. Cavalieri referenced a study by Bain & Company during his keynote speech, mentioning a rise in purchasing power seen in working women and a younger demographic, as well as the increase in online sales of luxury items.
"We definitely see women buying jewelry for themselves, especially pearls," commented Lan Toma. "Women love pearls - they are a symbol of power - and today's working woman is more likely to treat herself instead of sitting around and waiting for a man to treat her."
The Bain study also touched on the emotional needs of consumers, and how luxury items are used to meet them. "People want to feel good about themselves," Lan Toma said. "When they have a nice piece of jewelry, or better, a matched set, they look good. When they look good they feel good."
Freshwater pearls are becoming a big market item as more consumers realize they can have the expensive look without the extra strain on already stretched finances. CathayGems.com has a full line of jewelry to fit every budget, and specializes in customizing pieces to each customer's satisfaction.
"We believe that jewelry can be both affordable and breathtaking," Lan Toma concluded. "Women shouldn't have to compromise, whether they are buying for themselves or receiving a gift from a friend or family member. CathayGems allows them to have those luxuries even when times are hard."
CathayGems.com is a branch of C.D. Plus, Inc., an established California corporation, which also operates a wholesale pearl division. CathayGems.com provides the marketplace with freshwater pearls and fine pearl jewelry directly from family owned pearl farms offshore China, and operates an in-house manufacturing unit. Its headquarters are in San Diego with offices in China and representatives worldwide. The organization has an impeccable record with the BBB. For more information, log on to http://www.CathayGems.com or call Lan Toma, spokeswoman, at (619) 405-8044.
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