The Canadian Jewellery Group has approximately 95 members with 115 jewellery stores across Canada. All of our members are respected, well established jewellers with many years of experience in the industry. The ability to negotiate for the best terms, prices and services with vendors allows members to compete with the national chain stores. Each store retains their individuality and independence, as many of our members are family businesses, while taking advantage of the strength of their buying power.
Why should you join the Canadian Jewellery Group? What is in it for you as a retail jeweller in Canada today? Some simple answers are:
Better Prices
Exclusive Buying Show
Year End Patronage Dividends
Centralized Billing
Head Office Support
Jewellers Block Insurance
Free Online Networking
Sharing of Ideas Between Non-Competing Members
Marketing Tools
National Marketing Program
In-Store Credit Card Programs
Point of Sale Software
In-Store Gift Card Programs
Better Terms
Easier Bookkeeping
Non-Competing Stores
Business Connections
Sharing Industry Knowledge
Association and Friendship
1. PURCHASING POWER
The combined volume of the members enables the Group to buy better, which creates more sales and profits – both in the short and long term. We seek discounts directly off-invoice, as well as extended repayment terms, prompt payment discounts, and volume rebates from our suppliers. By operating in this manner, our members reap immediate, tangible benefits by dealing through the Group through the immediate crediting of discounts to members accounts. Volume rebates are returned to members in the next fiscal year after our auditors examine our records and, in doing so, confirm the patronage amount available. In order for the Group to negotiate it is in your best interest to support the suppliers that have been endorsed by the Group and purchase as much as possible through them.
2. BETTER BOOKKEEPING
The CJG statement
Bookkeeping in the jewellery industry means keeping track of discounts, rebates, payment schedules, and amounts to be paid. All of this takes the jeweller time, or costs him or her money to have it done for them.
The CJG computer system and resulting statement takes care of all of this for you when dealing with endorsed suppliers. Each month you receive an easy to follow activity report for your account, broken down by supplier, showing all current and deferred amounts due, all current discounts available, and of course, totals for the entire account. You always know exactly how much you owe in the current month, and how much you have in deferred payments to suppliers.
The statement total is transferred to a single invoice from the CJG; all you have to pay is one invoice, each month. That means 12 cheques per year, instead of 300 (if you deal with 25 suppliers).
3. MARKET PROTECTION
Within the Group, we analyze every situation when there is more than one company per defined trading area. This ensures that no conflicts of interest, advertising clashes, or income losses occur through intra-group competition. As well, having no intra-group conflicts resulting from member proximity keeps the flow of information and ideas between members as vibrant as possible.
4. EXCHANGE of INFORMATION
The free exchange of information between members, as they are not directly competing with each other in the marketplace, is one of the most important advantages the Group has to offer. Each member is prepared to discuss his successes, failures, or special time and cost savings procedures with other members. This leads to very tangible benefits, and these savings are often underestimated.
5. OTHER SERVICES
The CJG office negotiates, where possible, group agreements with various companies. An example is Priority Courier (a service of Canada Post Corp.) where CJG members enjoy significant advantages in terms of cost. Other services offered at this time include; Wells Fargo – for in store credit cards; Givex – for in store gift cards; NEBS business forms – for stationery needs; VISA & MasterCard discount rates; we have partnered with Jewelers Mutual, a jewellery only insurance provider; Jewelry Ads that Work – produces print ads for newspaper; Harold Weinstein Ltd – an appraisal house in Toronto; Jewellers Vigilance Canada – participation in their crime prevention program.
6. NATIONAL MARKETING PROGRAM
In 2008 the CJG launched The National Diamond Store as its new public marketing banner. As a member of the CJG your store has the option of joining the National Diamond Store marketing program. This includes participation in the radio, print, e-marketing, billboard and web-site promotion of member stores on a national level. Radio commercials are produced to include the name of the individual member store as the focal point, with the National Diamond Store mention as a support to the independent store’s own brand. The advertising strategy is that member stores have national buying power, allowing a local independent store to compete better on price. The commercials show there’s no need to go to a different market, or buy at a chain store to get a better price on a major purchase, like an engagement ring, for example. At a fraction of the cost of typical ad agency programs, National Diamond Store members enjoy the benefits of a major nation-wide campaign.