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MINDHAM FINE JEWELLERYS MYLES MINDHAM

PLUS: ALL THE LATEST MARKET NEWS, TRENDS & EVENTS

MileGoing That Extra

CJExcellence in Design:THE WINNERS ARE

canad ian j ewe l l e r magaz ine

OVER125 YEARSIN THE BUSINESS OFRETAILING JEWELLERY

Original G.MASTER DESIGNER

SIMON GHANIMIAN SPEAKS

Shades of Glory A NEW LOOK AT COLOURED

DIAMOND FLUORESCENCE

Holiday TrendsSTYLES AND CATEGORIES

YOU NEED TO STOCK

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P roducing any piece of jewellery is a capital intensivebusiness requiring expensive input costs in raw materialssuch as precious metals, diamonds,gemstonesand labour.In addition, jewellery is a luxury item which asks consumersto spend discretionary income on a something that appeals onan emotional level something which adds a greater degreeof uncertainty to a products success in the market.

market watch

S E P T E M B E R O C T O B E R 2 0 0 8 CJ 59

In every business, the ability to put the rightproduct into the right market at the right time is theproverbial Holy Grail. And from the point of view ofany business analyst, the jewellery industry hasbeen massively inefficient in this regard since thedawn of large-scale jewellery manufacturing.

B Y R OBIN G AMBHIR

Geomarketing Comes to

JewelleryDi Modolo, Milano 18K

gold Triadra necklace.

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With the advent of online shopping, the process of trackingconsumer behaviour and preferences became easier for onlineretailers, who could track product sales from their website.That was fine for online-only plays such as Blue Nile, but whatabout independent jewellers who do the majority of their salesin a store? Happily, most consumers still prefer to purchasetheir jewellery from a store in their community; local jewellersprovide a level of service that online-only retailers will never

be able to match. But independent jewellers and their suppliersneed new tools to compete in markets that are faster andsmarter than ever before.

Giving Local Jewellers the Tools to CompeteOpenBlues raison detre has always been to provide thoselocal, independent jewellers with modern websites that givethem the ability to compete by leveraging their suppliersinventory. This approach provides consumers shoppingonline with an inventory that is wider and deeper than any online-only retailer could match. And since OpenBlue sitesdrive traffic into thestore (displayingan averageof 10,000 items

of finished jewellery, loose diamonds, watches, clocks andgiftware on a retail site), it gives independent retailersmore inventory to drive a sale than any other jewellerswebsite. Every time consumers shop on a site powered by OpenBlue, everything they click on is recorded and fed backto the retailer and their suppliers. When a suppliers repvisits the store, there is no doubt about the items that shouldbe held in stock by the retailer. Using this data, suppliers can

deploy the right product into the right market. Retailers whowant to give it a try, can go to www.openbluestores.com.

See the MarketUp until now, readers of CJ have had the benefit of seeingthe market for different categories of jewellery throughstatistics; these statistics and the magazines consumer-drivenlists of the top 10 and top 100 are unprecedented in theindustry. With this edition of Canadian Jeweller, OpenBlue ispleased to show the next level of market data maps. In thisand upcoming editions of Market Watch, you will be able toactually see the market for jewellery.

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Happily, most consumers stillprefer to purchase their jewelleryfrom a store in their community;local jewellers provide a level

of service that online-only retailers will never be able to match.

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market watch

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For a supplier trying to decide where to market a specificstyle and for a retailer who is trying to decide what to stock,they need very specific information. To illustrate, we selecteda Polar Ice Canadian diamond solitaire.

When we look at map 3 on the previous page, we can see thatthis particular style has a different distribution pattern,compared to the broader maps which show general interest

in Canadian diamonds. Here, the style of the ring itself comes into play and we can see some interest from the westcoast of the United States. In Canada, there is stronginterest across the country, with heavy concentrations inOntario and Alberta.

Applying this sort of Geomarketing technology to jewellery takes a lot of the guesswork out of deploying products forboth retailers and manufacturers. Over time, geomarketingwill yield efficiencies and save everyone time and money by putting the right products in the right markets. [CJ]

Applying this sort of Geomarketing technology to jewellerytakes a lot of the guesswork out of deploying products for both

retailers and manufacturers.

Polar Ice Canadiandiamond solitaire

Dall'Avo for Gold Expressions 18K gold white cromo collection withhardened white ceramic.

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F o r d e t a i l s ,

w r i t e # 1 2 6 o n F r e e I n f o P a g e

, p a g e 1 0 4 .