May 21, 2003
JA and Professional Jeweler Announce Cost of Doing Business Partnership
Jewelers of America and Professional Jeweler magazine announce the formation of a partnership to co-produce the Cost of Doing Business Survey. According to principals at both organizations, this partnership was formed to expand the reach of the survey so all jewelers can benefit from the key financial information available in it.
The survey, published every fall, offers retail jewelers comprehensive financial information to help them evaluate and compare their store's performance to others in the industry. The survey is also used by banks, accountants, consultants and marketers as a yearly snapshot of retail jewelry store performance.
The Cost of Doing Business Survey is based on confidential questionnaires submitted by hundreds of JA members. It looks at key performance measures, including sales volumes within store types, productivity ratios, financial strength indicators and balance sheet data. The study's format, scope and content are similar in each annual edition, making it easy to compare year-to-year data. Survey respondents are categorized into four groups to allow for legitimate peer comparisons: Independent High End, Independent Middle Range, Designer/Artist/Custom, and Chain Stores.
As part of the program to increase participation in and the sale of the survey, Professional Jeweler will work closely with JA to provide creative input and promotional support in Professional Jeweler magazine, on the professionaljeweler.com website, and in ThisWeek@ProfessionalJeweler.com, the weekly online newsletter. JA also has appointed Professional Jeweler as the exclusive conduit for publishing survey highlights.
The Cost of Doing Business Survey is available to JA member retailers for $19.95 and to non-members for $125. JA members who contribute to the data by completing questionnaires receive one free copy. The 2003 edition will be available this fall.
For information on participating in the survey or ordering it, contact Jewelers of America at 800-223-0673 or www.jewelers.org.
Professional Jeweler is a national trade magazine with a circulation of more than 23,000 retail jewelers. It investigates and reports on the latest news affecting the jewelry industry, new product introductions and trends as well as tightly focused business information essential to running a profitable retail jewelry store.
Jewelers of America is the national trade association for retail jewelers. With more than 10,000 members nationally, JA also works locally through its 42 state and regional affiliates. JA advocates high social, ethical and environmental standards, promotes professional business and leadership skills, and enhances its members' profitability by offering education, certification, marketing and cost-saving programs.