ICA Contemplates How to Move Downstream

The debate about how to cope with the shift in the balance of power from the gemstone producers to the consumer markets continued on Sunday at the ICA biennial Congress in Bangkok.

There was consensus among the speakers and panelists that this shift in power to the consumer markets would generate new opportunities. However, participants had trouble identifying specific opportunities, and were at more of a loss about how to leverage those opportunities to create incremental colored gemstone demand.

Upstream colored gemstone miners and gemstone jewelry manufacturers are in favor of creating programs that will enhance the desirability of colored gemstones with consumers. But according to Terrence Coldham, chairman of the Australian Jewelry & Gem Trade Council, "Miners don't have the time or money to explore downstream opportunities”.

ICA Congress participants heard from representatives of emerging countries about how to reach new and developing consumer markets. Speakers outlined opportunities for the colored gemstone consumer markets in China, Thailand, South Korea, Eastern Europe, and Russia.

Monday's sessions will explore "Innovation in the 21st Century", particularly the role of the Internet in reaching the consumer as well as business-to-business opportunities for colored gemstone trades people. In addition, participants will hear about the U.S. Patriot Act, GIA's Gemewizard, and other gemological presentations.