Did you know that the jewelry business’s total market share was valued at $278.5 billion in 2018?
Whatever style or price point your jewelry is, there’s plenty of money to be made in the jewelry business—but you have to know your way around the wholesale jewelry process to really thrive in the industry.
Fortunately, dealing with wholesale fashion jewelry is fairly straightforward once you know what you’re doing. Here are a few pieces of advice for newcomers to buying wholesale jewelry.
- Know What You Want—and What You Don’t
What style will your boutique sell? Are you looking for pieces that you can easily manipulate and embellish? And how much will your customers be willing to pay for each piece?
All of this info is important to know before you start looking into wholesale jewelry brokers. Otherwise, it’s easy to get overwhelmed or end up with a product that won’t suit your needs in the end.
- Know Your Wholesaler
There are lots of great deals to be made in the wholesale jewelry business—but not all whole jewelry is created the same. You need to make sure you know the reputation of your wholesaler, and that they have adequate prices and policies.
Fortunately, there are plenty of great wholesalers out there—take https://www.wholesalesparkle.com/, for example. They’ve got quality jewelry priced to move, so you can make a hefty profit margin.
- Know the Trends
You don’t want to get stuck with a giant order of earrings or necklaces that nobody wants to buy! As a jewelry entrepreneur, it’s your job to keep up on what’s trendy—and not fall for anyone who tries to sell you last year’s inventory at this year’s prices!
If you have a passion for fashion, it shouldn’t be hard to follow the trends in the wholesale fashion jewelry world.
- Start Small
When it comes to buying wholesale jewelry, you should be a little afraid of commitment. Unfortunately, not all wholesale jewelry is what it seems.
You can avoid regrets by placing a small sample order, before buying a large volume of any one thing. Most wholesalers will be happy to accommodate this request for first-time customers.
- Know the Policies When Buying Wholesale Jewelry
Can you cancel a wholesale jewelry order when it’s running late?
What about the return policy: How long do you have to return an order? Do you get a full cash refund or just store credit? And what happens if what they send you doesn’t look like the picture?
All of these questions are good things to ask before you place your first wholesale jewelry order, so you don’t get burned!
Now that you know the basics, it’s time to start shopping for quality, well-priced wholesale jewelry. If you use common sense, follow the trends and plan well, you’ll soon see your profit margins expand and your customer base grow.
If you found this post helpful, feel free to check out the other fashionable articles on our website!