Three longstanding trade professionals, with over 75 years accumulative experience in the trade, have joined forces to launch a ‘virtual’ jewellery buying group.
Spearheaded by industry stalwart, Daren Daniels, NeoGroup aims to create an online environment without the restrictions and limitations of physical events, where members can search and find each other 24/7, 365 days a year.
While a buying group is about more than annual trade shows, NeoGroup believes moving online will make the buying process easier and more cost-effective for retailers and suppliers.
Daniels explains: “I have been listening and watching the trade over the last few years and believe it’s time to introduce to the industry a new way of networking and buying. The old way of physical buying meetings and trade shows have had their day, both suppliers and retailer numbers are diminishing fast, and there seems to be less and less desire for either party to attend or be part of these physical events. The trade has talked about the Spring Fair and IJL exhibitor and visitor numbers declining for years, and this is further supported recently by Swatch Group calling time on Baselworld. It begs the question – are there too many exhibitions or have they just got an outdated business model?”
“For the suppliers, costs of exhibiting can run into the hundreds and thousands of pounds, often for very little return and retailers can’t find new suppliers because they aren’t going due to the crippling cost, and so the circle continues. By taking this scenario online we can create a far more cost-effective way for retailers and suppliers to trade, and enable them to reduce their fees and provide better discounts,” continues Daniels.
NeoGroup will be working in partnership with The Jewellery App, an exclusive B2B e-commerce marketplace for retailers and suppliers in the jewellery industry.
By working in a virtual environment NeoGroup can offer better rates to its members, and give them more exposure in The Jewellery App community.
Alongside buying and selling, members will also be able to use social networking tools, and through membership surveys the group will bring services, suppliers, training that the members vote for.