The View from Austin , AGS Conclave 2024
AGS Conclave – a highlight in the Hill & Co. calendar, where education meets networking, and 2024 certainly did not disappoint!
Principal Consultant Stanley Zale and Chief Engagement Officer Pamela Bernstein-Gulla were in the thick of it all, delivering three impactful talks on the agenda while also engaging in many networking opportunities and taking in and learning so much from the multitude of fascinating talks by many other esteemed members of the AGS community.
2024 was a packed event, drawing large numbers from across the industry.
So much so, our team left a little disappointed to have run out of time before being able to connect with every single one of the attendees – but that’s just testimony to the scale and success of the event.
It would be impossible to capture everything we heard, learned and experienced in one article, but here are our five key takeaways:
1. Lab-Grown Diamonds
Love them or hate them, lab grown continues to generate ‘animated’ discussions. They are here, and they aren’t going away.
Stanley's standing-room-only talk shed light on this hot topic, emphasizing the importance of reliable information and cautious decision-making amidst the hype.
Conclusive identification is costly and complicated. Screening is not, so make sure to avail yourself of the options. Define and communicate your requirements and your position clearly to both your suppliers and your customers.
And when it comes to pricing?
As Stanley aptly put it,
"Watch for macro trends, while bearing in mind that one transaction does not always a trend make."
2. Supply Chain and Certification
Navigating the myriad of industry certifications remains a daunting task for jewelers. The fragmented landscape poses challenges, from lack of trust to to questionable standards to resource-intensive commitment to documentation and verification processes. We left Conclave with a renewed dedication to facilitating clarity across the industry.
While industry-wide organizations are here to assist you - you should also get comfortable with asking questions and doing your own research.
Whether you are a retail jeweler or supplier, make sure you have robust SOPs in place to demonstrate your due diligence.
Our advice remains ‘“Trust but verify.”
3. Tech Talk
The buzz around technology, from AI to CRMs, underscored its pivotal role in business growth. Investing in the right technology isn't just a choice; it's a strategic imperative for efficiency, resilience and growth in 2024 and beyond.
This stance has long been a cornerstone at Hill & Co. We’ve seen first hand the transformative impact of getting the right tech stack in place.
As our CEO & Founder Elle Hill says often,
“Having the correct technology to underpin your operations will make your team more powerful, more efficient, less fallible, and give your business the ability to get more done in less time.”
4. Changing consumer demands
As an industry, we continue to see consumers change and evolve, becoming increasingly educated and aware, and placing a greater emphasis on the brands they choose to support.
Today's consumers seek more than just a brand name; they crave meaning and purpose behind their purchases. They are not only interested in the products themselves but also in what the brand stands for, both globally and locally.
Pamela emphasizes, "Storytelling, especially from mine to market, will become increasingly vital, as demonstrated at the AGS Conclave in Austin, where we shared just how powerful a well-told story can be in connecting consumers with the ethical and human aspects of our beautiful creations."
5. Networking & Forging Connections
Let’s not forget the real gem of Conclave – the networking opportunities. To spend time in our community, at the heart of the industry, is a privilege and a pleasure.
Remember, people do business with people. Building and nurturing relationships remains the cornerstone of success.
As Pamela said,
”Networking at events like the AGS Conclave is invaluable to me; these gatherings are not just about making connections, they are about building lasting relationships that inspire, foster collaboration, and drive innovation in our industry."
As we reflect on AGS Conclave 2024, our thanks to all who shared their insights and stories.
We extend our gratitude to American Gem Society for inviting us to attend and speak at this unique event.
Whether we crossed paths or missed connections, we’d love you to reach out and continue the conversation.
Next stop? Las Vegas, where we’ll be at JCK, Luxury and Couture! We look forward to seeing familiar faces and forging new relationships.
Will we see you there? Reach out to us at inquiry@hillandco.co if you’d like to connect.