Global Economy Felt at Intergem
By Morgan Beard · Editor-in-Chief

Visitor numbers were high at the Intergem show, but sales continued to be slow.

IDAR-OBERSTEIN, GERMANY — The economic woes of Europe and the world continued to plague the Intergem trade fair this year.

Exhibitors said sales at the show, held October 3-6, 2002, in the German town of Idar-Oberstein, were very slow, although there were a good number of visitors. Most of the buyers were from Germany and surrounding countries, and there — as in the United States — retailers are reluctant to stock up.

The changeover to the euro currency in January 2002 has not been kind to many euro-zone countries. When the initial transition happened, wholesalers and retailers alike took advantage of the conversion to round their prices up to the next euro, thereby causing a sudden, sharp rise in costs for everyday items. While European Union officials say that inflation has not increased abnormally beyond that, consumers are still reluctant to buy luxuries — including jewelry.

At the high end, however, people are always buying. Vendors at the show saw the greatest activity in high-quality gemstones of all types, particularly in pastel shades. Aquamarine and peridot were very strong sellers, as were the orange-red shades like coral, spessartite garnet, and fire opal. Labradorite, a particularly trendy stone at the moment, was offered in large quantities, mostly in beads.

Despite the current economic turbulence, most exhibitors interviewed for the show were optimistic that things would get better in the next few months — not soon enough for the holiday season, but perhaps a brighter start to 2003.

For expanded coverage of the Intergem show plus related news, see the January/February issue of Colored Stone.

Posted: October 11, 2002