The first half of Trade Show Season concludes with IJO Dallas, and Mike speaks with Penny Palmer, Director of Member Services at IJO, to talk about the new vendors that have been added, the highlights of the event location, and some of the exciting educational sessions that will be taking place! And if you've got children traveling with you, make sure you bring them to the show for the opportunity to help foster a future love of jewelry (and let them pick out a piece as well!).
Plus, we're learning about how IJO is leaning on the next generation of jewelers to inject fresh energy into the industry's future. Make sure you block off your calendars for the start of next year so you can attend IJO's second Next Gen Summit coming Early 2025.
Send feedback or learn more about the podcast: punchmark.com/loupe
Learn about Punchmark's website platform: punchmark.com
The first half of Trade Show Season concludes with IJO Dallas, and Mike speaks with Penny Palmer, Director of Member Services at IJO, to talk about the new vendors that have been added, the highlights of the event location, and some of the exciting educational sessions that will be taking place! And if you've got children traveling with you, make sure you bring them to the show for the opportunity to help foster a future love of jewelry (and let them pick out a piece as well!).
Plus, we're learning about how IJO is leaning on the next generation of jewelers to inject fresh energy into the industry's future. Make sure you block off your calendars for the start of next year so you can attend IJO's second Next Gen Summit coming Early 2025.
Send feedback or learn more about the podcast: punchmark.com/loupe
Learn about Punchmark's website platform: punchmark.com
Welcome back everybody to In the Loop. What is up everybody? My name is Michael Burpo. Thanks again for listening to In the Loop this week. I'm joined by Penny Palmer. She's the director of member services at IJO, the independent jewelers organization, and we're talking all about IJO Dallas.
Speaker 1:For many of our listeners and many of our clients at Punchmark, this is a very big show for you, and if you're not a member of IJO, this might be a peek behind the curtain of what it is that you're going to be missing out on.
Speaker 1:Maybe that's something that you're interested in. For me, these shows are all about the education sessions. Actually, ross, our CEO at Punchmark, is going to be doing a presentation all about your digital landscape and your footprint there, and I'm always advocating that people go to the education sessions, get a chance to kind of hear what's new at the space and make sure that you at least have the opportunity to decide whether you want to use something or not. But also a big part of these jewelry shows is the catching up with your friends and the connections and just having a little bit of fun, and I think that that's just as important. I speak with Penny also about the next generation event that they had recently at IJO in, I believe, in January, and it sounds like a really good time. So make sure if you're interested about that you stick around to the end of the episode where we talk about that too. Thanks everybody, and enjoy the show.
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Speaker 1:And now back to the show. Welcome back everybody. I'm joined by Penny Palmer, who is what I affectionately refer to as the heart and soul of IJO. How are you doing today, penny?
Speaker 3:I'm doing great, Mike. How are you doing?
Speaker 1:I'm doing so well, so excited to get a chance to speak with you Very seriously, the director of member services at IJO. You've been with them since the beginning.
Speaker 3:Well, not quite not 50 years, but 32.
Speaker 1:32, a good chunk of time. So I'm sure you've gone to quite a few different jewelry shows and events and I'm sure that every year it's something exciting and new. But this upcoming IJO Dallas I feel like it has kind of a lot of buzz going about it and it's going to be a really, really special one.
Speaker 3:Yes, I think we get better with every show and I'm over six, maybe 62, 63 shows, I don't even know anymore. But yes, we do improve and there's such an amount of excitement that's generated that I love. People go home all charged up and I tell the new members that as humans, we have a tendency to get up and go to work and not really appreciate how lucky we are to be in a business like this and we need these reminders.
Speaker 3:And so you know, you walk in the back door of your store and you start to work, and then you have to start looking at it through the eyes of your customers and then the joy that you have it's. Maybe it's not every day, but sometimes you're brought to tears by the joy that you are creating for someone and it's just so, so special. But we do need reminders.
Speaker 1:Absolutely.
Speaker 3:And you get them at our shows.
Speaker 1:That's for sure in spades. And one thing I always love is, you know, sometimes people are like so business focused, but all you have to do is just ask a ask a jeweler a little bit about. You know love or engagements, or you know what jewelry means to them, or things like that, and suddenly it's like you're talking to a young child again and suddenly things are everybody's so excited and so fired up and they can't wait to tell you why they think this style of jewelry is going to be big and all it takes is just like a little bit of poking, and I think that sometimes that's what a trade show does as well, is just really lights the spark and then people bring it home to their, to their stores too, and I can only imagine the effect that has on their own stores as well, and it is contagious, without a doubt it is.
Speaker 1:So let's talk about what's new at IJL, because so, again, we have an upcoming show later this week, which is when this episode will release, and it's going to be IJL Dallas that's how we refer to them, at least at Punchmark, as we call it the buying group, and then the location. So IJL Dallas 2024. First of all, has IJL ever been to Dallas, or is this new, new location?
Speaker 3:We've been to Dallas before, we've never stayed at the Anatole, so this is a first. And one thing that I love about it is it's all self contained, we're all under one roof and we don't have to like we set up for the weekend with the registration desk, but if we're in a convention center then we have to move everything. We don't have to do that here. So that's it. For me that's huge, but we've never been at this hotel and it's supposed to be spectacular, so I'm looking forward to it.
Speaker 3:We do have some new vendors at our. We have a buyer's review every November and I bring in five of our retail members. I break it up, you know male, female, sales volume geographically. And then Mary Moses Kinney, who heads the buying group. She brings in 20 to 25 vendors who want to be an IJO, and so these we bring the, the jewelers, in at our expense and they look at these lines every 30 minutes over two days and it has to be unanimous for someone to get approved, and we have 16 new ones that were approved in November.
Speaker 1:Wow, that's amazing, it is amazing.
Speaker 3:And it's exciting because they're diamond companies. There's a state vintage product sales training company and one company that's an amazing store cutting store store designer, cutting edge store designer but we're also at. We've also added exciting new technology companies. We have Gemtech 360, jewel 360 and Connect, and all of these will be in Dallas. So it is exciting and they're all the new vendors are prominently set up right as you walk smack into the buying room, so they're the first ones that you see to give them some of the space for them.
Speaker 1:And what are some some key points that you're considering when it comes to adding a new vendor, Because I can only imagine that some existing vendors are rather protective of their kind of their domain. But also you do need to keep the buyers in the retailers as a core focus and making sure that they have access to the best and the latest and all that. How are you able to kind of balance the you know vendors and the retailers kind of points of interest?
Speaker 3:It's interesting because the vendors are part of this family also, and so we. The competition is good wherever you are, but we try not to oversaturate, where we have so many vendors in one of one type of product that it just dilutes, you know, their efforts when they come in, and so it is. It is a balance that we work very hard on and we try not to offend anyone, and so it's. And now, of course, with different types of companies coming in, it's not just jewelry and it's, you know, gia is going to be having two programs at the show, so it is something that's a challenge, because there are so many vendors that want to get into IJO and we do have to be careful.
Speaker 3:But that's why we leave it up to the, to our members, our retailers. We don't buy product, our members do, and so this decision is always up to them, and we have a different group each year.
Speaker 1:It sounds like a really, I guess, efficient and it keeps the heart of the matter at the core, which is definitely perfect.
Speaker 1:With sometimes, when I walk through jewelry events I would never say this to them I do feel like sometimes jewelry does kind of seem sort of similar to each other. You know, you got a diamond engagement dealer over here and you got a diamond engagement dealer over here, are there? What kind of key points are you looking at when it comes to making sure that they're not stepping on each other, especially when it comes to, for example, jewelry? Are you trying to look at making sure that there's a full run of price points when it comes to which vendors you're stocking or styles? Because again, it's one of those things you don't want to have such a wide variety of styles when the public is only purchasing a very focused amount. But you do want to make sure that there is enough diversity in the product offerings that you're not going to just have only one-carat lab-grown diamond engagement rings and there's 20 vendors that are all selling that. So I can only imagine.
Speaker 3:Yeah, with bridal we do have several suppliers for bridal and we do consider price points.
Speaker 3:There are some that are like bread and butter bridal that a lot of our members turn to, and then we have high-end ones and we've got colored diamonds that are really high-end, natural colored diamonds for bridal, and so there is quite a range and they all seem to do well.
Speaker 3:And what you try to remember is retailers like to be important to a vendor and so they will become loyal to a particular vendor and they're not going to buy from every bridal company that's in the group. They're going to stick. So that it's good to have a variety, because there are different people that have different loyalties. And also when we bring on new vendors, when people join IJO retailers, we don't ever expect them to give up the relationships that they've developed over all the years and the loyalties that they've developed. But then they're also going to find that perhaps they're going to buy better with some of these and they're also going to listen to other retailers saying, okay, you have to look at this product, but still, we don't ever expect them to just give up all those relationships. It is all family and loyalty is very, very important to me.
Speaker 1:What is it? We are IJO, so I definitely understand that, and I've also seen and I've mentioned it a million times on this podcast that it's always so surprising but also heartening to see how much information and transparency there is between retailers when it comes to offering. Hey, this is what's selling really well at my store, and it's not just because I like them or because I'm loyal to them, it's because this is the type of jewelry that is selling at my store and we recommend that you sign up with them. And that type of transparency has been so cool because it is kind of true.
Speaker 1:Information is one of those things that ebbs and flows, but you don't have to reinvent the wheel every single time. You can actually learn from others and take that advice and run with it, and that's what's so cool is seeing you know sitting at a table and hearing a maybe a more seasoned veteran retailer and someone who is relatively new to the group swapping information or stories and hearing, oh, we absolutely love this brand and they have done so well for us, and seeing that newer retailer then signing up with a vendor. It's been very cool to watch this. And but the thing I want to also ask about just on the topic of retailers is you guys are always adding new members. I always see that you have these exciting notices about how people refer new members and then there's like a reward for that. Has IGO been adding, I guess, members from all over, or what is that Like so?
Speaker 3:far. I have more than 20 new and guest members. I think I'm up to 23 now and people are still registering. So the new members are people who have already joined, who have never been to a show. So they're coming to their first show. So we pay for an airline ticket and four nights at the hotel for them. And then I send invitations to potential new members and they come as guests and we also pay for an airline ticket and four nights at the hotel. And so I am so confident that I mean we go to a great deal of expense it's over $2,000 usually to get just to get them there and I'm confident that they're going to love it because my closing ratio is almost 100%. So you know I mean it's like duh. What's not to love once they get there.
Speaker 3:So we are a member, get a member program, we just increase. So when our retailers and vendors recommend potential new members and they join, they get a check for $2,000. So it was a thousand. We just increased it to two because they're interested in strengthening the group and they know the stores you know, like I have. Thankfully there are websites now where I can at least see more than I used to in the old days I used to have my map and a JBT book and that was it, and now at least we have websites. It's so wonderful when people recommend someone and they know the store and they think the store is going to be a good addition to IJO and that IJO is going to help this new store. So it is a great incentive to get a check for $2,000. It's made up to them personally for something fun, not to the store. It's not business. $2,000 is a lot of money.
Speaker 1:Yeah, I can think of a lot of things to do with $2,000. For sure, buy a lot of cool, cool sneakers or whatever. So I guess it sounds like IJO must be doing rather well, is it? Could you give us like an overview on what 2023 looked like for IJO and the members?
Speaker 3:It's interesting the feedback, because I've been watching the reports from our members and this is something that they talk about on our discussion channels. Most have been very, very positive and some were surprised because since COVID and their best two years or three years ever, who knows when the shoe is going to drop and what's going to happen? So right before Christmas, several of our members said they had already had record years, Several said they were even with last year and just a very few said things were slow. But mostly things were positive and which was wonderful, because who knew what was going to happen post COVID? If only we could predict these things we'd all be millionaires about how the next year?
Speaker 3:is going to go.
Speaker 1:At least from my perspective, and this could be totally wrong.
Speaker 1:Again, I'm not a retailer, so this is just what we've gathered from watching the e-commerce performance on our websites, as well as what I've read a lot of the forums and that retailers are posting on, is that 2020 was obviously a bad start and then, with the advent of stimulus, checks and things like that and there being no travel, lots of people were investing back into luxury goods. 2020 ended up being rather good, and then 2021 as well, another great year. 2022, it seemed like maybe slowed down a little bit for some people, but also rather strong, and then 2023 had a rather good holiday season. So I guess it's one of those things. It's been really cool to see how Julie has stayed nimble and adapted to the changes that are going around us all the time, and that's one of those things is that we've been preaching since the very beginning. You have to be adaptable, you have to stay nimble, otherwise, if you're rigid with what you've been doing forever, things are going to change, like they always do, and then you won't be able to change with them.
Speaker 3:So yeah, it's been wonderful because people were. Their big concern was okay, all of a sudden, everybody's going to start buying airline tickets and traveling and they're going to stop with jewelry. And that wasn't the case. Of course, people did start traveling, but it's really held its own. So that's very exciting.
Speaker 1:One thing we had is that we saw this is just from online and I've been trying to speak to more jewelers about this to see if my perception of it is accurate but we saw that fashion jewelry meaning or just like gold and silver was much more popular this past year and that 2022 was all about lab grown diamond jewelry. And that was while lab grown was still very expensive and, as a result, the average ticket price for what we've seen has dipped, but the average number of products that are being purchased and the average transactions are much higher. So we're seeing that the golf that happened between the years was actually mainly because what was in fashion was lab grown diamonds in 2022, and then gold jewelry in 2023. So the difference is just in the price of the product. So just something kind of interesting I've been trying to follow.
Speaker 3:Well, what else is interesting is just looking at gold. Gold was when I first started at IJO. Gold was $300 an ounce, and then it went up and then it dropped back again and now it's way up, and now it's more valuable and more people are buying real gold because it's worth more and they're spending more. So it would just figure that out.
Speaker 1:Yeah, and I always know, though, leading up to these shows, the people at IGL are just in a whirlwind, and with this we're recording on February 19th, so we're about, I guess, maybe a month ahead of time, and I want to.
Speaker 3:It's actually two weeks from Thursday we're leaving.
Speaker 1:Oh goodness. So yeah, I guess, two and a half weeks from now, how are you doing? Are you feeling like things are going a little crazy, do you? I mean, like you said, you've done quite a few of these shows in the past. Is it kind of just, you know, is it game day, or is it always still kind of, you know, staying busy?
Speaker 3:Whirlwind is a perfect description. It just gets really, really crazy around here. It's like our members' Christmas is what we have before shows, but and I know I'm old, but I, for some reason, I thrive on it. I know I'm going to get everything done. Even though I look at the amount of tasks that I have ahead of me in the next two weeks, I know I'm going to get it all done. I'm still trying to get members to sign up for the show. You know new members and guest members. Well, now it's mostly guest members, and so I just I do thrive on it.
Speaker 3:Attendance is fantastic. Right now, we have more than 70% of our members already registered. I also always look forward to see a few thousand of my closest friends and, like I said, I think this may be my 60-second show, but I never tire of it. I admit I get tired, but I never tire of this, and sometimes at the end of the day at a show I feel like whoa, I'm just, especially on the weekend, I'm just dead. But then the next day it's like wow, I'm just, kai is a kite, I'm just excited and I'm very, very lucky to love what I do, and so it's just so nice to see all these people that I love so much.
Speaker 1:That's great, man. You must you really have a passion for it and that's, I think, so inspiring. I think part of the reason why everybody loves IJO is because of that, that deep investment that people have. But, penny, we're going to take a quick break and then I want to, when we come back. I want to talk about Dallas specifically and some exciting things that you hope to do there, because I know that there's always some extracurricular events that are going on for the members. So everybody, stay with us. We'll be back in just one minute. Yee-haw, just kidding, that's so silly.
Speaker 1:Punch of Mark is going to be at the IJO Dallas conference from March 10th until March 12th and, if you haven't yet already, make sure you make an appointment and stop by and hear the latest and greatest about the Punch Mark platform. We've also got new digital marketing options for stores of any size. We're really excited to show them to you. Make sure you stop by and also mention that you love In the Loop. It really makes me look good and you can do that. Just go to punchmarkcom, slash appointments or punchmarkcom, and in the top right book my appointment. You'll see it very easy. Hopefully you see you guys out there and back to the show.
Speaker 1:Welcome back everybody. I'm still joined by Penny and Penny. We're kind of on the advent of IJO Dallas and, like we've talked about, there's always kind of you guys go to a lot of different locations, a lot of different major cities. Dallas you've been to before, but first time in this hotel. Maybe we can kind of just tease or you can talk about a little bit the events that are going to be taking place in Dallas, because I know that there's always some, like I said, extracurricular activities that go on outside the buying event or ahead of it or after it. What do you guys have going on?
Speaker 3:Well, the schedule is jam packed. First of all, the most important thing is the education, and this is one thing that our members really they come to every show because of what they gain. We have so many that are a must see and there might be four going on at the same time, and how do you choose? People have to split up so they can attend more than one. As I said earlier, gia is offering two sessions. We have several inspiring speakers at different events. We have a jewelry AI experience seminar, a panel discussion with next gen estate planning, controlling your digital narrative with punch mark yeah, the IJO business course, your store and much more. Then, of course, there's my presentation, where I go over what IJO does. We used to call it the new member meeting and we've changed it to what can IJO do for you, because there's so many members that have just forgotten all of the benefits and services that we provide. So it is my new member meeting where I try to win the hearts of all of the first timers.
Speaker 3:But then, it's also a refresher.
Speaker 3:I do have many veterans who come to that meeting, so of course that one that's of course not to be missed.
Speaker 3:My presentation, but we also have a lot of events, like Saturday evening there is a cocktail reception, a kickoff cocktail reception. It's full, open bar and there's food, but there are 25, 30, I'm not even sure the number of showcases that the vendors set up and we have a contest for their design and they really get into it, and so our members come in and they have something to eat, they have a cocktail and they vote and then we present awards on in general session the next day. So that's always fun. You know, as a kickoff event, we have a brunch on Sunday for our VIP members, and we have so many VIP members there are like at least 600 people at this brunch and at the same time I have a lovely brunch feast for all the newcomers, the new first timers, the next gen. You know we have a panel discussion on that, but we're doing much more with them. And also that you know we have a dinner party Monday night, tuesday night, for our elite VIPs, and again we're talking hundreds of people.
Speaker 3:We have a rodeo, a real Texas thing, and it's going to be a game as a rodeo, but games, lots of games, a full dinner with ribeye and stuff, like you know, like that. So we offer a lot of things. We have snacks in the buying room, we have a lunch for all the retailers on Monday, a complimentary lunch, so it's, you know, it's full. It's a very, very full schedule. There's no reason to leave the building and I usually don't get to leave the building.
Speaker 1:Whenever, whenever people, whenever I had some roommates a couple of years ago and I went to I think I went to IGO Cleveland back in 2018. And I went to that one and I thought it was going to be, you know, like a work trip go out there, have fun, anything. I come back I was exhausted. My friends were like, dude, you look like you went through the bringer. I was like, yeah, just just a lot, man. It's just like a lot, just a lot of days, long days. And then you come back and you're just tired. It's like I need a vacation from, from this work trip, you know so.
Speaker 3:And there's always a lot of partying because our people love to see one another, they're best friends and so, you know, after the events of the day they all get together and it's just very, very social. And, you know, there's a very nice balance at our shows because there's so much education, so much networking, but it's also very, very social and people just get to be close to one another.
Speaker 1:Yeah, whenever I go to a Julie show, one of the things that I have a just a personal rule for myself is, whenever we show to, you know, cocktail hours or these kind of like you know drinking adjacent events, I have a personal rule for myself that I'm going to just the first table I'm going to sit down with will have no punch mark people with me, because I can see them any other time.
Speaker 1:But the thing is, everybody actually does want to talk to other people and I found that it's so I don't know welcoming that they are okay with talking to you, even if they, you know it's sitting down saying, hey, my name is Mike and I work with punch mark. And then people are loving the oh, like, what do you guys do? And then talking to them a little bit more, hearing what they're inspired about, and there's so much common ground I mean, after all, we all are in the same industry there's it's not very hard to find a topic that you both are interested in. So I love those events. I think that that's kind of like the secret sauce that actually comes with it.
Speaker 3:And people love to share and they also love to learn. So they and again, because nobody competes in IJO, there's more sharing than at other shows around the world. So that's another thing. That's just very, very positive, all that people share with one another.
Speaker 1:When it comes to the education. I guess how is that formulated? Is because, obviously, education it needs to be topical at its heart. There's different techniques and tools that are being innovated on every single year when it comes to the agility industry. But also, at the same time, you can't only work on, I guess, topical topics. You have to also have some fundamentals or important things that are involved there, because I'm sure that there's value to you know a lot of the first timers, like you mentioned. How is that kind of how's the education scheduled, kind of created or thought about?
Speaker 3:Well, jennifer handles that and she does a magnificent job. She learns who the top speakers are. We have a lot of speakers who we repeat because they're so. You know, we have a critique form after the show and some of them just get all excellent from people and they want them to come back and we need to have a mix. We have a huge mix of seminars and things. It's something for everyone so, but Jennifer does a very, very good job of putting all of this together.
Speaker 3:I was meeting Planner for three years and getting someone for a keynote in the in general session. I would look through video after video after video of people that were $5,000 to $10,000 for a 45 minute thing and they were terrible. And so Jennifer has to do that and she has. She gets the best speakers. You know, a lot of times you will leave general session, you know, with a full heart and ideas and again charged up about something. So it's a difficult task. I personally am much happier in the position I have now that I'm not doing that anymore. But Jennifer is perfect for it. She does a wonderful, wonderful job and that the program, this show, is amazing. It's absolutely amazing.
Speaker 1:Yeah, and I, like you said, I think that it's I think it's Ross is going to be presenting and he presented that previously and that's it's always one of our. I know you're not saying it's advertising, but it's always our best kind of way of drawing in new people is because, like you said, people actually they sit down, they make an event of it. It's so funny.
Speaker 1:There's a lot of events out there for different niche hobbies and topics and industries. For example, there's Adobe Max, which is for designers, and it's all about Adobe products, and there's, you know, there's some purchasing available there where you can go and you can buy stickers and goods and stuff like that. But with the actual reason why people are going there is to learn techniques and tools that are cutting edge and being innovated upon, and you know that is actually why people are willing to spend so much money. The fact that you know IJO and other trade shows have buying as a, you know, as kind of like what people think it's about, it's like oh, that's only, that's only 30% of the show. It's actually all these other things as well. It's pretty cool.
Speaker 3:Exactly, and what we stress is and everybody wants to be one step ahead of the competition For sure, and so they soak all of this stuff in just so that they can be one step ahead of the competition. We do help our members do that and again, I'm just like I said before, I'm the lucky one because people tell me that you know, when they joined they were doing 500,000 in sales and they're at 3 million, and you know, it just fills my heart. That's one of the reasons I'm still here, because it really I do feel like I make a difference, and maybe all that I've done is gotten them to come, but it's made a difference in their lives and changed their lives, so I'm just really, really thrilled about that. The one other thing that I love is, another thing that sets us apart is that children are welcome at our shows, and I remember seeing it might have been JCK or JAA, new York one of them.
Speaker 3:We were like no one under 16 allowed in the buying room and we have kids that have grown up with their parents and IJ that are now bringing their children, and we have people who bring their three week old babies because they can't wait to share the child with their IJ family. And I tell, and they all the kids get badges and they're allowed in the buying room. And so I tell all the new people all right, so have your child go in the buying room, whether it's four years old, seven years old, whatever, and pick something out and put it in your showcase. And then one day you are going to go home and say, oh my God, guess what I sold today? And maybe you know this is part of the next gen thing about inspiring something.
Speaker 3:You know young people don't necessarily want to go into retail, so the more you, the earlier you hook them in, the better it is. But we also have kids programs like kids GIA programs in the summer and it's adorable when you see these kids learning at these gem things that GIA does. So it's another thing that I'm very proud of that We've had people bring service dogs when they were training service dogs and the dog would have a badge and our member who was training them, the dog could never leave her side and when the dog had the vest on, you could not talk to the dog, you couldn't communicate with the dog, and when she would take the vest off, the dog would turn into a dog and everybody would be on the floor with it and hugging it. And she said whenever she came to a show with her dog she would meet more people than she ever did over all the years of coming to a show.
Speaker 1:But like what you said with bringing bringing children to these events, I would. I absolutely am encouraging everybody related to the jewelry industry to make things available or accepting of all ages, because, as we've touched upon quite heavily in this show in past episodes is that jewelry is increasingly an aging industry and it's so important that we do replace the people who are retiring every single year. Our punch mark, you know, the number one reason why people are leaving, is their stores are closing. It's so important that we get the next generation involved in jewelry and whether that starts with you know, having them at your store I mean we've spoken with you know Alex from Kiefer Jewelers or from Vincent from Moreto, and how he got his, his start at a very early age by being at the store with his family's business, but not everybody comes up with a family business. It's also about bringing people to you know these events and letting them see how incredible jewelry is.
Speaker 1:I remember I first got a little hook on jewelry when I saw on Fifth Ave someone. I pointed out to my parents wow, wouldn't it be crazy if that serpent bracelet, a serpent bangle I think it was Tiffany had these emerald eyes? I was like man. Wouldn't it be crazy if that was like real instead of stones and my mom was like no, those are, those are real emeralds. I was like it's insane that those are actual, real stones and it really kind of made me open up to the concept of this. You know, of what luxury goods are, and that's one of those things is allowing people to have that kind of early exposure to the industry and the wonders of it all is definitely so, so important and I absolutely commend IJO for making that a core feature of every show.
Speaker 3:We have brought in a lot of a lot of the new members I brought in have been younger people. I don't know if you've read, but more than 600 stores have closed in 2023. And so many, you know, of course, not even close to that number, but many IJO stores have retired and one of the things that there were two stores that just had no one to take over, stores that were third, fourth generation, and there's no one to take over. It's got to be so bittersweet for them. But then they also tell me that you know they're ready to retire and because of IJO, they're in a position to do so very comfortably.
Speaker 3:And that's another thing that fills my heart. But then I have a couple of stores closed where employees have taken over, so I have made them new members. I'm having them come to my my brunch, come to my presentation, and start fresh, you know, because I have to win their hearts now too. So that's that's.
Speaker 1:That's what's important is it has to be a replacement, in like the ability to keep people in the space. Because if all, if independent jewelers keep retiring, then eventually there won't be, as independent jewelry won't be that kind of force of good for the industry, and it will become the big box stores which you know. No offense to them. It's more that I'm cheering for the little guy more than I'm cheering for the conglomerate.
Speaker 3:Oh, absolutely. And just the personal touch. And I tell our members too about now that there's so much on social media when people come in and you ask them their story, and especially older people, how did you meet, how long have you been married? But I tell them like I wear my father died at 97 and I wear his wedding ring on my thumb. And before my mother died she told me that in 1944, my father paid $1.50 for her gold wedding band Wow. Then she looked at me and she said and I paid four dollars for his. It's like she sprung the box for and things like that are just there's so Over and over and share.
Speaker 3:you know, it's just those little stories. Anything you can make it to make it more personal with your public is just going to help, Because then they feel that they know you and anything that can touch their hearts it's. It's going to make a difference.
Speaker 1:Absolutely. That was one of the first things that my my grandpa, when he came to this country. What he saw as kind of like a safe and reasonable way to store value was. He was a Polish Jew that came to this country and he was living in New York City. He had some other people that were from his community that you know work starting businesses in the Diamond District and he would go and he would take the money that they had earned from their hairdressers and they would take the money and they would, he would invest it in diamonds and he would get a great deal from a few diamond dealers that were there.
Speaker 1:And now that he has since passed away and my grandma is starting to give a lot of her jewelry to to my mother, that kind of the heritage and the stories that come with those pieces are so, so much more, you know, so much more than the summer, even though the summer the parts is is quite special in itself. But Penny one. One last topic I want to kind of tie in and it kind of brings it to it. I recently had a next gen jewelry show or a jewelry event and in, I believe, florida, and I know that we're kind of getting excited about Ijo Dallas, but I'd be amiss to also mention this recent event. I believe it was in early January of this year. Could you kind of maybe talk about it just for a moment, just so that we get it on the radar for people, perhaps for next year?
Speaker 3:Sure, and because we have so many, it's sold out right after it was advertised that we were doing this and it was a three-day event in Fort Myers at a beautiful, beautiful hotel. There was a lot of socialization, getting to know one another, but also a lot of seminars and information and talking about transition. Some of the people there there were more than 50 people there and it's interesting because Steven Barnes put it all together, our new president, and when he came back he was so charged up and so excited about this new generation and encouraged by them about just meeting them and seeing their enthusiasm. But he said, Penny, I wish you could have been there because I know you would have been in tears.
Speaker 1:That's so cool.
Speaker 3:Yeah.
Speaker 1:Steven has been a real supporter for the next year as well. He made it one of.
Speaker 3:I think it made it his one A goal.
Speaker 1:When I spoke with him for his first interview he said you know, number one A is going to be firing up and getting excited this next generation and listening to them about what they think and letting them kind of help steer the ship. So I love that. He, you know, first thing, he did put his money where his mouth is and made an advance and I can't wait. I hope that we do. I hope that Punchmark attends the next one. That's the goal.
Speaker 3:Oh, I do too. I think it would be good for everybody on both sides. But we'll be doing it again and, of course, at our shows we're doing more with them getting together. So it'll be interesting with this next gen panel, because some of those will be the people that attended this event in Florida. So it is it's just very, very exciting, and I know people are like on a waitlist. Like went as soon as you announced it I want to sign up because it did sell out.
Speaker 3:It was full and positive and it's just a sign of things to come for sure.
Speaker 1:I love that, Penny. Penny, is there anything else you want to get out before people see you at IJO Dallas? I can only imagine. I think a lot of people are going to be listening to this when this comes out on Tuesday and then the show. I think you guys arrive on Thursday, Everybody else arrives on Friday and I think buying starts on Saturday. So it's going to be on Sunday. So it's going to be a quick turn over.
Speaker 3:Saturday is devoted to education the whole day. I love it. So yeah, and our team clinics those Saturday afternoon from three to five. Our team clinics are literally everybody's favorite part of the show because they share ideas and they get ideas, and we have 19 of them going on at the same time, so they're rather popular and I, you know, I'm still taking reservations. There are guests that I have spoken with that haven't signed up yet, and I will do it right up until the last minute that I can.
Speaker 1:If any of you listening are interested in you go to an IJO event, Make sure you mention that in the loop is your referring member and I'll take that two K dollars. I'll take the two thousand dollars and I will use it for something really fun. I promise. That's my promise to you.
Speaker 3:You're a smart one, Michael.
Speaker 1:Thank you so much, penny. I really appreciate you taking the time out of your busy, very busy day. I know that you guys are, like you said, in a whirlwind right now getting ready for the show. I won't be at IJO Dallas, but we'll have a ton of members from Punchmark there and I'm sure that it's always one of our favorite shows of the year, if not the most favorite. So I hope that you have a blast, everything goes smoothly and everybody will be back next week, tuesday, with another episode. Thanks so much for listening. See you there. Bye.
Speaker 3:Thank you Bye.
Speaker 1:All right, everybody. That's it of the show. Thanks so much for listening. Like I said before, make sure you stop by the Punchmark booth at IJO Dallas if you're going to be attending and let them know in the loop set you. It makes me look good. This episode was brought to you by Punchmark and produced and hosted by me, michael Burpo. My guest this week was Penny Palmer. She's the director of member services at IJO and she'll be at the show, so make sure you say hi to her as well. She is lovely. This episode was edited by Paul Suarez with music by Ross Cockrum. Don't forget to rate the podcast on Apple Podcast and Spotify and leave us feedback on punchmarkcom slash loop. That's L-O-U-P-E. We'll be back next week, tuesday, with another episode. Cheers, bye.