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Novori (OTCBB: NOVO) Well Positioned as Jewelry Becomes the #1 Fastest Growing Product Category for Retail Sales Online
Feb 7, 2007 -- Novori Inc. (OTC BB:NOVO) -- a leading online interactive retailer of fine diamond engagement rings -- is pleased to note that the online jewelry retailers have captured the first place position for e-commerce sales growth in the USA, rising from the third fastest growth industry in 2006. The principal component propelling online jewelry sales growth rate is diamond rings, engagement rings and other high-ticket items.
Jewelry sales, which increased on average by 67 percent across the board, became the fastest growing online product category. Sales of video games posted the second highest growth rate at 64%, with video game consoles and accessories recording a 63% growth in sales. Source: IDEX Online Research
IDEX Online research noted that retail e-commerce now accounts for approximately 7 percent of consumers' U.S. retail spending (excluding gas, autos, and food), making it an important component of the total U.S. economy.
"Novori is well positioned to capitalize on consumer spending trends given its established e-commerce presence, high customer satisfaction rate and superior value proposition," commented Harold Schaffrick, CEO of Novori. "We expect the 2007 to be a huge growth year for our brand and internet presence."
About Novori Inc.
Founded in 2004, Novori is a leading online interactive retailer of diamond engagement rings and fine jewelry. Novori launched their website in 2005 and has built a well respected brand by providing consumers with superior customer service and a better way to buy diamond engagement rings. Novori prides its self on the highest quality standards in the industry and provides consumers with unique online tools to allow consumers to explore, build and purchase their own custom made diamond rings in a way not previously offered by traditional retailers. The Novori.com web site offers thousands of independently certified diamonds, settings and fine jewelry at prices significantly below traditional retail. Novori's shares are traded on the Over the Counter market (OTCBB) under the symbol NOVO.
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3370 N. Hayden Rd.
Scottsdale, AZ. 85251