{"id":13440,"date":"2016-09-06T12:27:43","date_gmt":"2016-09-06T12:27:43","guid":{"rendered":"http:\/\/www.cibjo.org\/?p=13440"},"modified":"2017-12-07T11:56:33","modified_gmt":"2017-12-07T11:56:33","slug":"the-next-great-consumer-generation-under-the-spotlight-at-cibjo-fiera-di-vicenza-seminar","status":"publish","type":"post","link":"https:\/\/cibjo.org\/rstoolkit\/the-next-great-consumer-generation-under-the-spotlight-at-cibjo-fiera-di-vicenza-seminar\/","title":{"rendered":"The next great consumer generation under the spotlight at CIBJO-Fiera di Vicenza seminar"},"content":{"rendered":"
<\/span>

Millennials use multiple source of information in making purchasing decisions, said CIBJO President Gaetano Cavalieri in his welcome to participants to the CIBJO\/Fiera di Vicenza Millennials seminar.
\n<\/em><\/p>\n

\u00a0<\/em><\/p>\n<\/div><\/span>

Millennials are more likely to buy from companies that support causes they approve of, said Corrado Facco, Managing Director of Fiera di Vicenza and President of CIBJO’s Trade Fair Commission, during his welcome.
\n<\/em><\/p>\n

\u00a0<\/em><\/p>\n<\/div><\/span>

Seminar moderator Steven Benson, CIBJO’s Communications Director.
\n<\/em><\/p>\n

\u00a0<\/em><\/p>\n<\/div>

<\/div><\/div><\/div>

Arguably the most substantial reconsideration in recent decades of the way in which diamond jewellery should be promoted and sold was the focus of a seminar held September 4, 2016, the second day of the VICENZAORO September trade fair in Vicenza, Italy. Entitled \u201cThe Challenge of Marketing to Millennials: The Next Great Consumer Generation,\u201d the event was co-organised by CIBJO and Fiera di Vicenza.<\/p>\n

Born between 1980 and 2000, the Millennials represent one of the largest generations in history, and its members are about to move into their prime spending years. The unique experiences of Millennial consumers will change the ways the jewellery industry promotes and sells, and the manner in which it communicates with its customers. This will require companies to examine how they do business.<\/p>\n

As the most heterogeneous generation ever in terms background and ethnicity, the Millennials grew up in digital society, where online and mobile skills were not learned but simply acquired. This changed the way they perceive the world, and how they interact among themselves and with others.<\/p>\n<\/div><\/span>

Costantino Papadimitriou, Senior Vice President Brand Strategy and Innovation at Forevermark at De Beers, addressing the audience.<\/em><\/p>\n

\u00a0<\/em><\/p>\n<\/div>

\u201cWhen we market our products to Millennials, we no longer are able to get the exclusive attention of our clients,\u201d said CIBJO President Gaetano Cavalieri, welcoming the crowd of participants that filled the room.\u201d They have easy access to large amounts of information. They are more inclined to do research before buying, and they consult with their friends before making a decision.\u201d<\/p>\n

Importantly, when it comes to purchasing decisions, Millennial consumers are considerably more likely to consider issues such as product integrity, sustainability and the social responsibility. Studies show that they are nearly twice as likely to purchase from a brand because of its social and or environmental impact.<\/p>\n

\u201cAlready today, Millennials represent more than $2.45 trillion in spending power, and it is a number that will grow substantially,\u201d said Corrado Facco, Managing Director of Fiera di Vicenza, who also serves as President of CIBJO\u2019s Trade Show Commission, during his welcome to seminar participants. \u201cAccording to a research carried out by Cone Communications, up to 70 percent of them will spend more on brands that support causes they care about.\u201d<\/p>\n<\/div><\/span>

Seminar presenters (from left): Jean-Marc Lieberherr, CEO of the Diamond Producers Association, which is about to introduce the industry’s first sustained generic marketing campaign in 10 years, which will mainly be directed at Millennials; Roberto Coin, the leading Italian jewellery designer and brand developer; Ella Goldner, Global Strategy Director at IPG Mediabrands in London; Costantino Papadimitriou, head of global communication strategy and campaigns, and brand innovation at De Beers\u2019 Forevermark; and\u00a0 CIBJO President Gaetano Cavalieri.<\/em><\/p>\n<\/div>

At VicenzaOro September, CIBJO and Fiera di Vicenza convened what almost certainly was one the most expert panels ever gathered to consider the topic. It included:<\/p>\n