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JA, National Jeweler partner on profit-building tool

Organizations to combine Cost of Doing Business and America's Best Jewelers surveys

April 03, 2009

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New York--Beginning this year, Jewelers of America (JA) and National Jeweler are combining two of the industry's most detailed research projects: JA's Cost of Doing Business Survey and National Jeweler's America's Best Jewelers' Survey.

For more than two decades, JA's Cost of Doing Business Survey has helped retail jewelers improve performance by highlighting effective strategies for increasing profitability, focusing specifically on key financial performance variables organized by store type. Storeowners then use the report to easily compare their company's data with others in their segment of the retail jewelry trade, as well as to high- and low-profit firms.

Combining this survey with National Jeweler's America's Best Jewelers Survey expands JA's report and elevates its value, by concentrating on operational performance in the areas of human resources, marketing, customer service and similar areas of core competence.

"At a time when we are all looking for ways to maximize resources, combining these two industry-leading surveys will help jewelers manage their stores efficiently and make informed decisions about their business strategies," JA President and Chief Executive Officer Matthew A. Runci said in a media release. "Storeowners who use the Cost of Doing Business Survey often find areas where they can trim costs and improve operations."

Retail jewelers can easily complete the combined survey at JewelrySurvey09.com beginning April 13. The survey site will remain live through May 15, 2009.

Completing the single survey online will allow retail jewelers to receive the benchmarking benefits of both surveys. In addition, completion of the joint survey will qualify jewelers to be considered for the special recognition of the 2009 America's Best Jewelers designation.

"The goal of these two pieces of research has been to identify industry performance standards as well as recognize those who perform at the highest level," National Jeweler Network Group Publishing Director Chris Casey said in the release. "The data gathered, and the resulting analytic tools, are exponentially more valuable by combining the two surveys."

Participants who complete the survey in its entirety receive special benefits: JA members get a free copy of this year's printed Cost of Doing Business Survey (a $150 value); non-members receive the report at a steep discount ($34.95). JA is also offering its members, who complete the online survey by April 30, a chance at 10 free two-hour financial benchmarking consultations to help jewelers get the most from the report.

In addition, the Web site survey features immediate calculation of an individual's operating ratios. Jewelers can print and save this data for use with their financial advisors and for valuable benchmarking once they receive their 2009 Cost of Doing Business Survey.

JA is the national trade association for businesses serving the fine-jewelry retail marketplace, representing 11,000 member stores. For more information about JA, visit its Web site, Jewelers.org.

National Jeweler Network (NJN) serves a global network of jewelry retailers, designers, manufacturers, suppliers and buyers through a diverse media portfolio. Included among its domestic offerings are the leading industry publication National Jeweler and the JA New York and Couture trade shows. Internationally, NJN is represented by Couture International Jeweler and Europa Star magazines, and international sites Hora Latina, Watches for China and the Jewelry and Watch network, which includes bilingual regional news sites in Brazil, China, India, Russia and Latin America. NJN also offers services in the form of integrated marketing program CustomerConnect, America's Best Jewelers' seminars, online communities The ABJ Network and Your Store, plus an interactive Yellow Pages directory.
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