Knowledge is Profit & Power for Jewelers Using New Business Intelligence System
Toronto, Canada (PRWeb) March 8, 2007 -- OpenBlue's patent-pending Hybrid Retail system for jewelers uses the combined inventory of an independent retailer's suppliers to feed retailers store sites. The system logs consumer activity against every item in the system including finished jewelry, loose diamonds, watches and giftware.
Reports are sent to retailers and their suppliers on weekly basis showing the top items on each store along with a statistical analysis. Each item is scored for the individual store and on a national basis and the systems can generate over 25 different metrics including GEOIP data. In addition, the system has a growing list of over 400 categories and these categories that are also ranked on an ongoing basis to assist the industry members in spotting consumer trends. Hybrid Retail also allows retailers to add their inventory to their sites and those items are also tracked and ranked.
The system was first tested during Christmas 2006 and the results of that test were published in the February/March issue of Canadian Jeweller magazine. OpenBlue Networks Inc. provides statistics to publishing partners free of charge, as a service to the industry. Canadian Jeweller will be publishing statistics from the system in every issue.
"This is an unprecedented opportunity for the industry," said OpenBlue CEO & founder Robin Gambhir. "Up until now, the only business intelligence available to the industry was from surveys filled out by people who want to win cash or prizes. This, by contrast, is real consumer-driven information." The company says that suppliers and retailers using the system can gain greater efficiencies by purchasing and producing based upon what consumers desire.
The company sated that independent jewelers using OpenBlue's patent-pending Hybrid Retail%u2122 system, have the power to compete with and even best etailers such as BlueNile.com.
OpenBlue Networks Inc. is a leader in branding, marketing and business intelligence systems for vertical markets such as jewellery, fashion, furniture and home decor. The company provides complete branding, marketing and deployment solutions to manufacturers and suppliers; the company also works with publishers and trade show organizers to create interactive buyer's guides (e.g.) . The company's services are available in Canada, the United States, the U.K. and Australia.
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This press release has been reprinted from PRWEB per the terms and conditions of the copyright notice.
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