Josh Zarb, CEO IJC, said he was “extremely happy” with the progress the group had made in its first year.
“To exceed our two-year target within eight months has been phenomenal; it’s quite exciting for the group. We got to 40 stores shortly after we launched and then reached our first-year target, which was 50 stores, before the end of the year, and it hasn’t slowed since,” he told Jeweller.
The buying group had initially planned to hit the 60-store milestone by June 2022, given its aim to stay relatively small in order to maintain a high level of boutique service.
“We’ve had expressions of interest from more than 120 stores, but our strategy is to have a niche group – small, with high-quality retailers and suppliers, and hands-on service. Our specialties are in marketing and operational support,” Zarb explained.
He added, “It's still early days, but we’re so thankful to all the retailers and suppliers who have partnered with us so far – this motivates us to work even harder for them. Our team is working very well together, and that shows through our administration, communication, and marketing.”
IJC’s membership has been concentrated in regional areas, with an even spread across Australia, though Zarb noted that the group had seen an increase in enquiries from metro stores "since the New Year".
At the time of publication, Zarb was planning a dinner for Queensland IJC members, to be held the night before the Expertise Events Gold Coast Trade Days on 7–8 March.
“It’s a fantastic opportunity to engage with the member stores – it sounds cliché, but it’s like catching up with friends,” Zarb said.
IJC will also be present at both the Gold Coast Trade Days, and the Sydney Trade Days the following weekend – something Zarb called “a fantastic opportunity” to meet face-to-face with retailers who have expressed interest in joining the buying group.
More reading:
Expertise Events confirms buying group presence at Trade Days, Sydney fair
2020 State of the Industry Report: In-depth update of Australia's jewellery buying groups over a decade
New buying group reaches another membership milestone
New buying group reaches membership goal
New jewellery buying group formed