Inside Track June 2019 Edition

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In This Issue...

Market Trends …………………..……..……………………………………........................................................………….…… Page 4 RJO Vendor Best Sellers..……………………...………………………….................................................………….…...… Page 5 VENDOR SPONSORED PAGES: The Edge Retail Academy……………………….........................……………….........................….......................…………..….. Page 6 The Edge………………………………………………………………..………................................................................…..................…..…Page 7 Quality Gold.….………………......………….......................……………………………….….................................................. ...............Page 8 Empire Corporation......…….…..……….......................……………………...……………………..…..............................…...............Page 9 Star Gems.. ……..............………..………………….......................……………..……………….……..............................……..................Page 10 Virtual Diamond Boutique....……………………….......................…………………………......................………………...............…Page 11 MSG Payment Systems..……………….………………........................…………………........................................…….................Page 12 Keith Jack.....…............…………………………..........................................................................................……………..................Page 13 Concepts.................................…...………………...........................................….……………….......................…………...................Page 14 Berco.......………………………………………………………………..........................................…………….…............................................Page 15 PRIME Consulting.....................….………………………….......................................……………………........................................Page 16 SHOW Shirts......................……...……………...………………..……………………………...……………...…….........................................Page 17 Keep Me Connected........................................................................................................................................................Page 18 AJ Goldfarb........................................................................................................................................................................Page 19 Nice Diamonds..................................................................................................................................................................Page 20 Benchmark.........................................................................................................................................................................Page 21 Victor Corp.........................................................................................................................................................................Page 22 Berco.....................................................................................................................................................................................Page 23 Rembrandt..........................................................................................................................................................................Page 24 Color Merchants/ Brevani...........................................................................................................................................Page 25 Galatea.................................................................................................................................................................................Page 26 Lafonn...................................................................................................................................................................................Page 27 ASHI.......................................................................................................................................................................................Page 28

The Edge Retail Academy aggregates over $1.5B in annual jewelry sales, and the sell-through data below reflects an average per retailer.

RJO Inside Track Market Trends All Diamond Sales for 12 months, through May 2019, for all shapes and sizes H color (31.4%) and SI2 clarity (20.8%) were sold the most. Average Sale was $5,823.

24,571 diamonds were sold, which provided $144.2M in sales.

Round Diamond Sales for 12 months, through May 2019, for 1.00-1.49ct H color (37.1%) and SI2 clarity (21.9%) were sold the most. Average Sale was $5,882.

3,955 diamonds were sold, which provided $23.9M in sales.

Princess Cut Diamond Sales for 12 months, through May2019, for 1.00-1.49ct G color (34.2%) and SI1 clarity (26.8%) were sold the most. Average Sale was $5,173.

523 diamonds were sold, which provided $2.7M in sales.

877-569-8657, Ext. 1

inquiries@edgeretailacademy.com

edgeretailacademy.com

The Edge Retail Academy aggregates over $1.5B in annual jewelry sales, and the sell-through data below reflects an average per retailer.

Top 3 Hot Selling Items from Various RJO Vendors in Various Diamond Categories Ashi Diamonds Gems One IDD

Diamond Earrings #91755FVERWG 14KW Prong Set Cluster Stud Earring #SE3025FW 14KW 2BR=.25ctw Dia.Stud Earrings H; I1 #EM025N9W 14KW 2BR=.25ctw Dia.Stud Earrings J-KI; I2

Gems One Jewelex Ashi Diamonds

Diamond Fashion Rings #TWO30154WPC 14KTT D=.20ctw Diamond Ring #JN4966S10PWY 10K3T D=.23ctw Cross Over Diamond Ring #52338TSMOPG 10KR D=.15ctw Morganite Ring

Ashi Diamonds Allison Kaufman Gems One

Diamond Pendant #91755FVPDWG 14KW D=.35ctw Dia. LoveBright Pnd. #N8119 14KY D=.25ctw Necklace #FP415310 14KW 15BR=.10ct Halo Pnd. G-H: SI1

RJO Vendors Top Sellers Bridal – Allison Kaufman #L7485 14KW D=.04ctw Solitaire Semi-Mount Wedding Rings – Gems One #FR1085 Platinum + 14KW Br.12ctw Band Alternative Wedding Rings – Benchmark #LCF150 Tantulum Band Fashion Rings – Gems One #RG100374WSC 14KW 20BR=.05ctw Fashion Ring Diamond Earrings – Ashi Diamonds #91753FVERWG 14KW 2BR=.50ctw Dia. Earrings Diamond Pendant – Gems One #FP415325 14KW D=.25ctw True Reflections Halo Pnd Diamond Bracelet – Gems One #FB1136 14KW 48BR=5.00ct Diamond Tennis Bracelet Colored Fashion Pnd – Color Merchant #P1414W 14KW Saphhire Pendant Colored Fashion Ring – Gems One #FR1041 10KW 4Saph=.20tw + 3br=.05ctw Fashion Ring Colored Fashion Earrings – Color Merchants #E1412W 14KW 4mm Round Aquamarine Studs Pearl Earrings – Imperial #926110AWH 14KW 7MM Akoya Stud Earrings Pearl Necklace – Imperial #996007IM SS 6.5M Pearl Pnd D=.05ctw W/chain Pearl Bracelet – Glik Import #ELAS Ladies Elastic Stretch Freshwater Pearl Bracelet Ladies Watches – Citizen #BN019155L Ladies Eco-Drive Watch Gents Watches – Citizen #CA029159E Gents Blue Line SS Blk Dial Brac. Chronograph Sterling Silver – LaFonn #E0107CLP00 Sterling Silver Earring 1.00tw

877-569-8657, Ext. 1

inquiries@edgeretailacademy.com

edgeretailacademy.com

Retire Strong!

Are You Retirement Ready?

Many business owners don’t have a plan of how they will exit the jewelry business.

Whether you plan to leave or greatly reduce your hours in the next year, or in another 5-10 years, you will want to get your business in the right shape to maximize its value, and to exit on your own terms.

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Easily compare your store to others Spend more time away from your store, while having your finger on its pulse

Together, let’s increase the RJO Member stats!

Please contact our sister company, The Edge Retail Academy 877-569-8657, ext. 9 or Michelle@EdgeRetailAcademy.com

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Request a complimentary savings analysis to verify your merchant services pricing is competitive. We analyze every detail of your statements and provide a quote that illustrates the savings our RJO member program could afford your business.

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888.849.4978 INFO@PRIME44.com www.PRIME44.com Sometimes, the simplest of ideas can have the greatest impact on our business. When was the last time you reviewed your Average Retail Sale numbers? Did you compare present numbers with the previous month? The previous year? The trend for the previous three years? If so, are you steadily increasing the number over time or have you settled into complacency?

Although the concept of selling higher priced items for growth will often elicit the “DUH” response, we can easily lose sight of the fact that this simple concept can have a dramatic impact on your store. The cumulative effect of small changes consistently monitored over time can have a significant impact on annual sales and profits without additional cost on your part.

The average retail store does approximately 5000 transactions per year (in all categories excluding bead sales). So, let us look at a simple scenario in the following table: Transactions 5000 5000 5000 5000

Average Retail $200 $400 $600 $1,000

Annual Sales $1 million $2 million $3 million $5 million

Of those 5000 transactions, 5% of them (250 transactions) are from your diamond and colored-stone sales. However, those 5% of transactions will generally account for 50% of your sales dollars. Therefore, it stands to reason that placing a greater emphasis on your diamond and color sales department will make the biggest impact on your bottom line. But do not forget there are 4,750 other transactions that, with a little work, can also greatly improve your retail average.

Of course, you cannot simply double prices overnight and expect these results. To achieve greater numbers requires a slow and steady process of implementing a number of factors, the greatest of which is constant monitoring in order find those areas that require work. Some areas to review: -

-

Staff training – Do your salespeople have goals? Are they trained to “sell” and not simply “show” your inventory? Are they trained to have confidence selling higher sales numbers rather than simply handing-off the sale to someone else? Are they trained on properly pricing repairs and special orders?

Display – Are your better items prominently displayed or are they lost in a sea of competing stock making it difficult to truly be seen by your customers?

Repairs and Special Orders – Are you charging enough? Let go of the fear of someone walking over a few dollars: Your time and expertise are valuable, particularly on special orders. They are “special” for a reason and should be priced accordingly.

Just a few tweaks in areas such as the above examples, with constant consistent vigilance, will provide substantial rewards in the long run. We invite you to visit our website, www.NVPrimeConsulting.com, for an overall view of the services we provide. If you have questions as to how we may be able to assist you, please do not hesitate to call - 888849-4978. Should you so desire, we provide a free business analysis to help you determine how we can help you address outstanding issues and/or achieve desired goals. Of course, all communications and information are strictly confidential.

Sincerely,

The PRIME Team – Jim,

Jeannie & Warren

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RJO Inside Track – June 2019

(1): E4235W: These precious front hoop earrings have a unique shape that is effortlessly cool. These Brevani earrings feature 14k white gold, 0.42 ct of diamonds, and 0.30 ct of sapphire pears. MSRP: $1,499. For more information visit www.brevani.com.

(2): RM4226P: Stylish and chic, this east to west-set semi-precious ring is perfect for every day. This Color Merchants ring features 14kt yellow gold, 0.06 ct of brilliant diamonds and 1.01 ct of blue topaz. MSRP: $829. For more information visit www.brevani.com.

(3): RM4268: For the girl who loves a dainty, stackable ring. This every day ring in 14kt yellow gold and peridot features 0.06ct of diamonds and 0.20ct of blue topaz. MSRP: $429. For more information visit www.brevani.com.

(4): P4232W: This architectural art deco inspired pendant has an oval sapphire in the center with diamonds encircling it. This Brevani pendant features 14k white gold, 0.18 ct of diamonds, and 0.56 ct of sapphire. MSRP: $1,249. For more information visit www.brevani.com.

(5): E10415W: These stunning Dashing Diamond floral top earrings are sure to make one dazzle. These Brevani earrings feature 1.56 ct of brilliant diamonds. MSRP: $5,000. For more information visit www.brevani.com.

(6): P10356P-18: This elegant necklace from Brevani features fancy cuts shapes; a heart, round, and pear. This Dashing Diamonds necklace features 0.93 ct of diamonds. MSRP: $3,749. For more information visit www.brevani.com.

(7): RM3970P: This chic ring from Brevani has a white topaz hexagon with pave diamonds. It features 0.13 ct of diamonds and 1.00 ct of white topaz. MSRP: $929. For more information visit www.brevani.com.

(8): P10356P-18: This gorgeous star pendant from Brevani features 0.25 ct of diamonds and 0.08 ct of sapphire. MSRP: $999.

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