Jewelers and Buying Groups

By Jennifer Heebner, Senior associate Editor -- JCK Online, 6/1/2003 2:00:00 AM

Just 35% of jewelers recently surveyed in a JCK Retail Panel said they belonged to a jewelry-buying group such as the Retail Jewelers Organization. More results of the survey are shown in the charts below.

If you belong to a jewelry-buying group, have you attended at least one of its organized diamond-buying trips to Belgium—which are promoted to customers beforehand to encourage diamond pre-purchases?

Yes	37%
No	63%

If the promotion effectively drew in sales, how much money did the effort raise?

0-$10,000	24%
$10,001-$20,000	59%
$20,001-$30,000	6%
$30,000+	12%

If you belong to a jewelry-buying group, for how many years have you done so?

0-5	42%
5-10	13%
10-15	15%
15+ years	30%

The Buying Groups

For more information about jewelry-buying groups, contact any of the following organizations.

Independent Jewelers Organization, Norwalk, Conn.; (800) 624-9252, www.ijo.com.
Retail Jewelers Organization, Newton, Iowa; (800) 247-1774, http://rjo.polygon.net.
Continental Buying Group, Fort Lauderdale, Fla.; (954) 964-2660, www.cbgi.org.
Leading Jewelers Guild, Los Angeles, Calif.; (310) 820-3386; e-mail: jimmywest@aol.com.

Top reasons jewelers join a jewelry-buying group

Better prices on jewelry
Incentives such as rebates, travel awards, cash back, and stock-balancing agreements
Information exchange among non-competing jewelers
Fellowship and friendships with other jewelers
Education and advice from seminars and other members
Access to a wide variety of screened vendors with quality merchandise
Smaller, more personal shows