The Pearl Is Unique Just like Its Consumers - Essay Example

? The Pearl is Unique-Just like its Consumers Introduction The pearl is a unique symbol of purity, beauty and delicacy. It is regarded as classical and contemporary as the industry has successfully managed to fulfill the styles and fashions of all generations. Pearls are mainly used in the jewelry industry and are regarded as the most beautiful of all other gemstones and metals. Pearls can be natural or cultured. The natural pearls are formed around an irritant inside the shell while in cultured pearls the tissue is inserted manually through which the process starts. However, the only thing common between both the pearls is the quality, natural beauty and value of the pearl which is left only to nature. Figure 1 The Australian, 2011 Pearls can be pear-shaped, oval and at times misshapen; but the most valuable pearls for all sorts of consumers will be the round, smooth and free from marks. A strand of pearls which fits directly to the throat is a collar. The one which rests on the neck is a choker. The princess length of the strand would be the one reaching the collarbone while the matinee is 20-24 inches and Opera is 30-36 inches. Rope is all the other strands that are more than 36 inches. These are important details to understand the consumer perceptions and tastes in the pearl industry. Another aspect which is important is the origin and types of pearls. Natural pearls are the most precious pearls and unfortunately the rarest. They were originated in the Persian Gulf and have already been harvested at large. The ones available in the market today are small in sizes and immensely costly. There was a time when consumers did not buy anything but natural pearls, but today the perceptions have changed. The cultured pearls are widely available and produced in pearl farms. They have contributed majorly to the pearl market today. These cultured pearls produced through a delicate process. The pearls formed through this process are not always high quality. These pearls are sorted and about 10,000 are discarded before a 16 inch strand is assembled of high quality pearls. Figure 2 Morning Dove Studios, 2012 Pearls are also found in saltwater and freshwater where there are different types of mollusks and thus they produce pearls that are different looking. Saltwater pearls are the akoya cultured pearls which are grown in Chinese and Japanese waters. These pearls are very tiny starting from 2mm to 10mm, and are cream or white colored with a round shape. They are cheaper due to their sizes. The Australian, Indonesian and Philipinnian pearl is the South Sea pearl which is the largest pearl of all. Their size is about 9mm to 20mm and is cream, white or golden colored. The South Sea pearls are the most expensive ones as they are rare and have thick nacre. The Tahitian pearls have sizes ranging from 8mm to 16mm and they are not only found in Tahiti but also on French Polynesia islands. These pearls are known as the black pearls but are gray, green, purple, blue and black colored. Black pearls are also found in Fiji, Cook Islands and Micronesia. They are expensive. Figure 3 Chinese Pearls (United Nations University, 2013) Figure 4 Black Pearls (squidoo, 2013) Freshwater pearls grow in lakes, ponds and rivers mostly in China. Most of these pearls have the same size and shape as akoya pearls but may also be different. They are comparatively cheaper and the most common of all pearls sold. These pearls may not have the nucleus of the bead hence having thicker nacre. Imitation pearls are pearls that have a coated glass bead. These have high luster which can be easily separated from a cultured pearl by a knowledgeable jeweler. Sometimes it becomes a challenge to identify the imitated and the cultural or natural but certified gemologists from the American Gem Society can easily do the job. These pearls may also be going through processes and treatments to enhance their color or luster, and this immensely affects their value. A consumer would never want to buy one! Some of the best pearl brands today are Tiffany, Mikimoto and Pearl Oasis. These are the top retailers because they satisfy their customers with high quality pearls. Since pearls are now rare to find in high quality, these brands have formed their ties with the pearl farmers and ensure that they bring the high quality pearls for their customers. These branded pearls may be expensive but high quality. Today, pearls are purchased by the upper-class people mostly. Wealthy men and women purchase high quality pearls from the top brands. Women have been the target audience for companies selling pearls but in the recent years it has been observed that pearls appeal to men as well. Men buy pearls to impress their ladies just as diamonds. Few years’ back diamonds were the rarest of all gemstones, and today pearls are equally valued as they are rare and their prices have immensely shot up. The Australian Cultured Pearl Industry is rooted in the North West Australia in Broome. This town is known to produce the world’s most sought pearl. The tradition said that if a pearl was found here, it was a bonus and could change the destiny of a man forever. Men were appealed to this and they visited Broome from around the world in search of the magic pearl. They risked their lives and tried their lucks. Pearls are the oldest of all gems as they have captivated our admiration longer than any other stone. Others are formed through mineral deposits but pearls are naturally beautiful. Pearls were a symbol of love and purity today as well as for our ancestors. Julius Ceaser made pearls limited only for the rulers of Roman Empire in the first century B.C. Later in the British Empire too only the royals wore pearls, and recently too pearls are worn by royals and the wealthy nobles. In Hindu mythology, Lord Krishna has said to discover the first pearl. He presented it as a gift to his daughter for her wedding. In Greek and Roman mythology, pearls were closely related to marriage where the bride and the guests adorned them. The Greek mythology also explains the origin of pearls. These pearls were said to be the tears of joy of their Goddess of Love when she was born. Persian mythology also believes in pearls being tears that have hardened. Chinese mythology says that pearls came from the brains of dragons. For Muslims, pearls are the reward that they will get in the afterlife as it is a symbol of perfection in their tradition of Islam. Pearls continued to be valued in the New Age traditions as well by symbolizing beauty and happiness. Pearls were used to cure from poison in the middle ages. Figure 5 Chinese Dragon (squidoo, 2013) There are many pearl traders today than compared to 10 years ago when there were few top brands. This is because it is easier to set up a business nowadays such as online stores that require less capital. Many years ago, the pearl industry was limited to few top quality brands that served the consumers with high quality pearls. Today, high quality pearls are rare and expensive. Due to the global financial crisis, consumers have lowered buying luxury items including pearls. Many brands have now started trading in low quality or fake pearls at lower costs thus attracting middle-class consumers. Due to the changing perceptions of the consumers and the low quality production of pearls, it is observed that the pearl market is facing immense challenges since 2011. The experts in the pearl industry, Robert Wan, Jacques Branellac and Peter Bracher, have been interviewed by JewelleryNetAsia on 14th June 2011. Robert Wan, the Chairman and Founder of Robert Wan Tahiti in French Polynesia. He discussed that the pearl industry contributed second largest revenue after tourism in Tahiti. The consumer trends have fallen in the recent years which affect this position. However, according to him, the customers need to be delighted and pushed with creativity in the jewelry sets and designs. This can be done through designs with all colors, sizes and various shapes instead of just round. New markets can be conquered through exhibitions and auctions. Peter Bracher says that the financial crisis caused a reduction in the demand for pearls and thus prices lowered. Because of this the Australian pearls industry faced immense loss and their operations were completely ceased. The production has been decreased by about 50% since 2009 to 2011. There are many coordinated efforts that have to take place in order to restore the faith of the consumers in the pearl market. A bright future for the pearl market is expected as the next generation of farmers has been mobilized already. The consumer perceptions for pearls have changed because of the decline in its quality. The low quality pearls affected the brand name and perception which was set since uncountable years. Consumer faith in pearls broke as they experienced reduction in the production and availability of rare, high quality pearls. However, the pearl market experts are now looking into the market opportunities and revival by creating new generation designs and techniques for the production and farming of high quality pearls. We can hope that the efforts will pay off and the pearls demand will raise in the market giving pearls the lost position. No matter what the market position is or will be, pearls will be unique, and so will its consumers! 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