CMJ announces “back to core values” at August trade event
BIRMINGHAM, England, August 5, 2018 – A refocus to get “back to the core values” was the clear message coming out of the Company of Master Jewellers’ (CMJ) trade event and AGM.
Members and suppliers enjoyed networking but it was the key speeches at the AGM which set the tone for the coming months and years, as CMJ laid out its stall to refocus on “what it does best” to benefit its members and suppliers.
Non-executive director, Julie Langford, presented a review of the financials. And while, due to the restructuring of the group and the closure of the loss-making subsidiaries, the 2017/18 figures made for rather bleak reading, the results were as anticipated.
However, the re-focus of CMJ on its core business offers an outlook which is more encouraging for 2018 onwards.
Chairman Michael Aldridge outlined the major overhauls CMJ had taken in the past 12 months to “ensure we restore our core values of supporting you,” he said.
“So, we have a much clearer focus and strategy. And we are a less diverse business,” he added. “And I am pleased to share that this year’s annual shareholder return was 20% higher than the previous year.”
The group confirmed that its CEO Terry Boot is focused on increasing membership numbers and raising member spend through the group, so all members feel the benefit.
Aldridge said that CMJ are recruiting a membership development manager who will work to increase the member base with quality retailers that fit the CMJ “ideals”.
CMJ has employed the services of an external marketing agency to raise its profile, and intends to demonstrate how it is setting the agenda in retail jewellery to the benefit of its members and suppliers.
Aldridge said that CMJ needed a “fresh pair of eyes” to help form this new strategy, adding: “That’s why we have engaged marketing agency Cognition. They have been able to work with the head office team, viewing the business from outside, to get a clearer view of what our marketing strategy should look like.”
CMJ’s new website will be at the hub of this new focus and strategy, as it will enable CMJ members and suppliers greater and quicker access to the assets they need to help them manage their businesses so they can concentrate more time on customers.
“We understand that it’s not just about supplying great benefits, marketing support and web portals to make life easier – it’s about demonstrating we are moving forward,” Aldridge said.
A recent survey commissioned by CMJ demonstrated that consumers still value the “in-store” experience retail jewellers offer.
This retail report will be available exclusively to CMJ members and suppliers, providing invaluable insight into UK jewellery consumer purchasing habits.
Aldridge said, “I trust that all of this demonstrates our commitment to our new strap-line – Our focus is your future.”