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Andie Weinman, the CEO of Preferred Jewelers International sits down and talks about the importance of jewelry buying groups in today’s world.
Andie Weinman and Joe Murphy are the proud owners of one of the most prestigious organizations in the jewelry industry, Continental Buying Group, and Preferred Jewelers International.
Andie and Joe have both been in the jewelry business for over 30 years with an extensive background in both manufacturing and retail experience.
They believe whole-heartedly that the independent, privately-owned jewelry retailer is the backbone of the jewelry industry.
Recognizing that there was a tremendous void for independent jewelers to compete with Internet jewelers and national chains, they created Preferred Jewelers International™.
Clickable Show Notes
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Question #1 It’s not uncommon for people to start out at a young age in the jewelry trade but did I hear that you started out when you were only 10? You’ve got to fill us in on that story! Timestamp: [2:54]
Question #2 Andie, you hold a B.A. in musical theatre and a B.S. in marine biology from the University of Tampa, so what drew you to the jewelry trade? Timestamp: [4:03]
Question #3 Let’s change gears here and talk about “Preferred Jewelers International”. Let me just say when I first heard about the concept I thought it was a brilliant idea and one that the jewelry trade desperately needed. So what was your inspiration for creating this program? Timestamp: [5:16]
Question #4 You once said, “We strongly believe that the independent, privately-owned jewelry retailer is the backbone of the jewelry industry” end of quote. In a time when huge jewelry chains seem to dominate the trade, why do you believe so strongly in independent, privately-owned jewelers? Timestamp: [6:29]
Question #5 For me one of the strongest parts of the Preferred Warranty for a client is that when you move to a new city or state you are still covered by a thoroughly vetted, reputable Preferred Jeweler in your new community. Can you take a moment and delve into the various advantages of the Preferred Warranty for clients? Timestamp: [8:13]
Question #6 So let’s take a minute and talk about the free nationwide warranty and what it covers. Essentially how do clients use the warranty and how do Preferred Jewelers handle the repair work? Timestamp: [10:18]
Question #7 Andie, we’ve talked about the considerable advantages of having a Preferred Warranty can we now look at the program from the jeweler’s perspective? What are some of the tangible, real-world benefits of being a Preferred Jeweler? Timestamp: [11:48]
Question #8 There have been considerable changes in the 35 years you’ve been in the jewelry trade. What are some of the biggest changes you’ve seen and how could being a Preferred Jeweler have eased those difficult transitions for independent jewelers? Timestamp: [13:20]
Question #9 From your unique vantage point you’ve really got your finger on the pulse of the jewelry trade where do you think the American jewelry trade is headed as a whole in the next few years? What steps should independent jewelers be taking now to prepare for the future? Timestamp: [14:34]
Question #10 Andie, we have covered a lot of ground today, but is there one question that we should have asked you but didn’t? Timestamp: [16:13]
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Mentioned On The Show & Links
Preferred Jewelers International – Preferred currently has over 206 retail locations and continues to grow. Their vision is that Preferred Jewelers International will be the largest association in the world of Independent Jewelry Retailers.
Preferred Jewelers guarantee assurance to customers that their love stories will begin with “Experiences that last a Lifetime™“
Reach them by telephone at 888-998-8874.
Continental Buying Group – Testimony from Goldsmith Jewelers, Billings, MT, says it all: “If you’re a jeweler you know just how big a deal being a member of the Continental Buying Group really is – especially because of how difficult it is to become part of this prestigious group.
To be a CBG member you have to maintain a perfect credit rating and more importantly, you have to be BIG. The CBG Jewelers list is a ‘Who’s Who’ of the best and biggest independent jewelers in the fine jewelry category from across the country. Ultimately, CBG is a buying group.
The 100 CBG Jewelers buy their inventory together and get much better discounts because of the massive amount of jewelry we buy. Consequently, Goldsmith Co. pays rock-bottom prices for every piece of jewelry it purchases. This equates to the best prices for quality jewelry anywhere, guaranteed.”
Our “Inside the Jewelry Trade” Radio Show Episodes
The host of “Inside the Jewelry Trade” Radio Show – Jewelry Business Strategist – President of Four Grainer LLC. Author of the business books “A Reason To Chant,” and “A Reason to Chant – Jewelry Trade Edition.” Rod lives in Atlanta with his wife and two almost-human cats.