Keep it relevant!A summit for change in the Jewelry Industry

Changing timesChanging business environment has created pressure to lower costs:▪ Advertising▪ Employee count and wages▪ Occupancy costs▪ Controlling Inventory

Quote: Bill Boyajian

“If you’re going to continue to do retail the way you’ve always done retail, you’re going to fail,” said Bill Boyajian, industry consultant and former Gemological Institute of America president, speaking at a keynote session in Las Vegas 2009. “No one is going to emerge from this recession unchanged.”

Changing Customer

Click link: We Generation video

New Possibilities!!

Change is necessary to take advantage of the “New Economy”

Are you ready?

Millennials Freedom Customize Scrutinizers Integrity Entertainment and play Collaboration and relationship Speed Innovators

What do I need to do?

Consider some of the emerging business trends!

Emerging business trends

Virtual inventory Custom design Estate jewelry Brass and glass inventory Just in time inventory Collateral businesses sharing space Green/ ethical movement Jewelry rental

Current ways to advertise

Store events Social networking PR Online recommendations Electronic newsletters and

announcements Personalized and micro targeted

mailers Careful and targeted creation of your

message

Panel Introduction

Dan KischCindy Edelstein

Nick FaillaJames Porte

WOW!

Real examples: Brass and glass:

http://www.spencediamonds.com/us/ Custom design:

http://bikes.urbanoutfitters.com/http://www.greenlakejewelry.com/default.asp Green/ ethical movement:

http://www.brilliantearth.com/ Virtual Inventory:

http://bit.ly/JLYD_Virtual_Display_Cas PR-

http://www.jewelrytogo.net/diamond-jewelry-service-93555-ridgecrest/jewelry-store-events.html

More real examples:

Online recommendations: http://www.ivouch.com/ts.cgi?c=719

Social networking: http://www.facebook.com/home.php?#/SamuelGordons?ref=ts

Jewelry rental: http://www.bagborroworsteal.com/ui/jewelry/fine-jewelry

Reputation and PR: http://www.molinafinejewelers.com/

So what is working for you?

What are the long term effects?

Effect of lower retail store inventory levels on manufacturers.

Need for “just in time” inventory. Ability to reach the broad range of

customers with our advertisements. The to more effectively target our

advertisements.

Thanks!

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Thanks for you participation!