The Singapore International Jewelry Expo (SIJE) 2021 opened its doors to the public on December 2, 2021, upon the return of one of the region’s most important jewellery shows after a long and difficult pause of two years due to the COVID-19 pandemic.
The four-day show was officially opened by Guest of Honour Low Yen Ling, Minister of State, Ministry of Trade and Industry & Ministry of Culture, Community and Youth; Chairperson of Mayors’ Committee & Mayor, South West District. Also present to witness the official opening ceremony was H.E. Suryo Pratomo, Ambassador, Embassy of the Republic of Indonesia, Singapore.
Market research by Euromonitor International in May 20211 indicated that the jewellery sector was one of the worst-affected markets in terms of retail sales in 2020 in the Asia Pacific region when the pandemic hit. Measures to contain the spread of the pandemic such as retail closures and lockdowns had hit sales directly.
Buyers may do initial research online and many will eventually head to the jeweller to make the final purchase. According to a statement by the Singapore Jewellers Association (SJA) in May 20212, consumers in Singapore were less willing to shop under tight COVID-19 measures.
With the return of SIJE 2021, jewellers at the most established jewellery show in Singapore and the region are expressing confidence that the market has shown signs of a rebound as the past eight months have indicated increased sales for investment pieces and branded jewellery.
This observation is supported by the Rapaport Price List or Diamond Report which showed that prices of diamonds picked up in the past eight months after falling during the pandemic.