Southern Jewelry News

Survival strategies and e-commerce discussed at Leading Jewelers Guild semi-annual Meeting

11:48

May

2008

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Members of Leading Jewelers Guild, a prestigious member owned jewelry organization of independent retailers, and their families, assembled at the Radisson Ft. McDowell Resort and Casino, just east of Scottsdale, AZ, for their semi-annual March Meeting from March 5th to 9th.

(SCOTTSDALE, Ariz.) - Members of Leading Jewelers Guild, a prestigious member owned jewelry organization of independent retailers, and their families, assembled at the Radisson Ft. McDowell Resort and Casino, just east of Scottsdale, AZ, for their semi-annual March Meeting from March 5th to 9th. The scheduled meetings were organized to develop strategies for jewelers during tough times, including knowing your customer, “clientelling,” special events, competing with the Internet, buying off the street, and more.

MVI Marketing CEO and jewelry industry researcher Martin Hurwitz (Jewelry Industry Research Institute) presented the keynote address. “Information is more valuable than inventory,” said Hurwitz, “The customer is a moving target; we all change our demographic profiles constantly.” He outlined methods jewelers can use to ask customers questions, then analyze and act on the results. He also reviewed the results of a consumer study he did on the group’s exclusive brand, Love Story® Diamonds.

“We’ve all made assumptions about how our brand is doing,” said Leading Jewelers Guild vice president, Gene Thompson (Thompson Jewelers, Orlando, FL). “Now that we know what the customer really thinks we can be more confident expanding Love Story® Diamonds and capturing new opportunities.”

Well-known jewelry sales trainer Kate Peterson (CEO, Performance Dynamics) rounded out the day’s session with some adjustments to the Love Story® training programs which she had previously developed. “The bottom line here is that there’s room to grow!” said Peterson. “Stores need to get the word out, perfect the presentation, and master the close!”

Peterson led a separate session entitled “Ask Kate,” where members posed questions in advance, which she researched and answered. While most of the questions dealt with survival during tough times, subjects discussed covered the gamut from guerilla marketing to commission and compensation structures.

“Kate brings a world class and totally up-to-date assessment of the luxury market,” said the group’s Executive Director James “Jimmy” West. “She’s uniquely qualified to speak on a range of subjects and always offers a great deal of take-home value for the jewelers.”

The members of Leading Jewelers Guild were anxious to discuss the ramifications of group e-commerce. “There are so many new avenues here to explore,” said Leading Jewelers Guild president Don Ritchie (Harry Ritchie Jewelers, Eugene, OR). “Our initial challenge is to identify exactly where the group’s opportunity lie, and how we can pursue them successfully.” Several vendors were invited to give presentations on the topic.

Other sessions were devoted to the merchandising the group’s catalog program, sharing best promotions and new ideas, using the group’s comprehensive third-party credit plans, and orienting prospective new members. “While business has been soft at the store level, jewelers across the country are taking another look at Leading Jewelers Guild,” said Jerry Friedson (Harry Ritchie Jewelers, Eugene, OR). “When times are tough we stand together and support each other!”

A key element of all Leading Jewelers Guild meetings is the social aspect. “I’ve developed friendships here that will last a lifetime,” said member Elise Kreisberg (Greenberg’s Jewelers, Sioux City, IA). “I think our prospective new members are getting a taste of what makes Leading Jewelers Guild different from other groups!”

The program was dedicated to the memory of the group’s CPA, Robert A. Moss (who served the group for over 36 years and passed away earlier this year). “Bob touched all of our lives and businesses in a very special way,” said Kreisberg. “We will miss him tremendously.”

Leading Jewelers Guild, an organization completely owned by its member jewelers, through its strategic relationships and collective buying power, offers their retail membership the opportunity to lower overall operating costs and increase buying power in a strong, relationship driven environment. A full service merchandising and strategic planning operation, Leading Jewelers Guild is an invaluable marketing, catalogue production and advertising resource dedicated to the overall business needs of their member companies. Leading Jewelers Guild, originally founded in 1958, celebrates its 50th Anniversary this year. For more information contact James “Jimmy” West, Executive Director at (310) 820-3386.