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Jewelers and Buying Groups

By Jennifer Heebner, Senior associate Editor -- JCK-Jewelers Circular Keystone, 6/1/2003

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%
No63%

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?
0-542%
5-1013%
10-1515%
15+ years30%

 

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

Source: August 2002 JCK Monthly Retail Panel

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