A seminar co-organised by CIBJO and Fiera di Vicenza on the second day of the VICENZAORO September trade fair in Vicenza, Italy turned the spotlight on "The Challenge of Marketing to Millennials: The Next Great Consumer Generation", bringing together a highly experienced and knowledgable panel to discuss an issue that has been much deliberated on already.

The impressive roster of speakers, including Ella Goldner, a Global Strategy Director at IPG Mediabrands in London; Jean-Marc Lieberherr, the CEO of the Diamond Producers Association; Costantino Papadimitriou, Senior VP Brand Strategy and Innovation of De Beers' Forevermark; Roberto Coin of the eponymous jewellery brand provided many fresh insights on the theme.

CIBJO President Gaetano Cavalieri, introducing the seminar, said, "When we market our products to Millennials, we no longer are able to get the exclusive attention of our clients." He described this segment as having easy access to large amounts of information, being more inclined to do research before buying and consult with their friends before making a decision.

He also said that they are considerably more likely to consider issues such as product integrity, sustainability and social responsibility. Studies show that they are nearly twice as likely to purchase from a brand because of its social and or environmental impact.

"Already today, Millennials represent more than $2.45 trillion in spending power, and it is a number that will grow substantially," said Corrado Facco, Managing Director of Fiera di Vicenza, who also serves as President of CIBJO's Trade Show Commission.

The panel broadly indicated that the Millennials are 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.

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.

Pic caption (from l): Jean-Marc Lieberherr, Roberto Coin, Ella Goldner, Costantino Papadimitriou and CIBJO President Gaetano Cavalieri at the seminar