The Ultimate Guide To Successfully Sell Wholesale Jewelry Online
Model wearing our ALBA Earrings
How to Sell Jewelry Online?
In this beginners guide, you will find everything you need to know about starting your business by buying and reselling wholesale jewelry.
The jewelry business is a very lucrative one as statistics show. Just last year, in the midst of corona, 29 million people reported that they bought jewelry online. This makes the business very profitable but also highly competitive.
This brings the question of how to get a hold of this business and start selling wholesale jewelry online successfully. Let’s start with the basics!
Why Should You Sell Wholesale Jewelry Online?
If you are already in the retail business but thinking of starting your online store soon, you should know that you can’t go wrong with selling jewelry. As decor, a statement piece, gift or simply to make them feel special, people never stop buying rings, necklaces, earrings and other fine accessories.
If you are just now starting your business, buying wholesale and reselling the jewelry minimizes the risk involved in starting up a business. It costs a lot less to buy at a wholesale price and resell at retail price than to set up your production line where you design from scratch, pay for materials and workforce, and finally place the jewelry on the market.
So, for those looking to maximize gains and minimize investment, reselling wholesale jewelry is the perfect way to go about it.
You Generate More Sales
Due to the pandemic-induced closedowns all across the globe, people got into the habit of shopping online, and even though now everything is open again, online shopping continues to break records. Nowadays, the internet is a thriving marketplace where people can find anything, including jewelry.
Selling wholesale jewelry online is the most efficient way to reach more customers worldwide without the investment and risk of starting a brick-and-mortar store.
Jewelry is a commodity, and a consumer product bought almost daily by millions of people. This means jewelry stores never run out of customers given that they have applied the right marketing and business plan strategy.
Statistics show that the jewelry industry will grow to $292 billion by 2025. This is very lucrative and you should take advantage of its prosperity.
Convenient To Do Business With
Selling jewelry can make it easier for you to reach millions of people and sell to them without big shipping costs. Compared to larger products like car parts, electronics, or kitchenware, jewelry is easy to pack and ship anywhere in the world.
Helps You Diversify
People return to your store when there is something new and unique to see and buy. No matter what you sell, if you have the same products continuously, they are more likely to shop elsewhere.
Jewelry is diverse. As an online buyer and reseller of wholesale jewelry, you have the opportunity to specialize in different types of jewelry, such as:
- Affordable Fashion Jewelry - affordable doesn’t mean cheap. Affordable jewelry is all the jewelry that is fashionable for a season and can go out of style quickly. However, it is still highly sold season after season, but due to this high sale rate, it is priced lower and made from less noble materials.
- Body Jewelry - this is mostly body piercings like nose rings, belly button rings, tong rings, eyebrow rings, and others. This type of jewelry is also sold well because it tends to be more personal than bracelets or earrings, therefore, more valued.
- Plated Jewelry - gold-plated jewelry is the best-selling jewelry. It offers high-quality crafts with noble gold and other skin-friendly materials at a lower cost than golden jewelry. Thanks to the blissful shine of the gold plating, it lasts long, looks lavish yet it is affordable for anyone that wants to feel elegant and chic.
As you see, there is a tremendous potential to grow in the field of wholesale jewelry reselling. Here are some guidelines to follow if you want to succeed in this business.
Discover Your Jewelry Niche
We’ve talked about the multiple types of jewelry you can have in your store. Research and decide on the pieces you want to market and sell.
To make an informed decision, you should define your target audience and get the right supplier. Figure out if you want to work with the latest trends or more timeless pieces, classic gold-plated jewelry or even vintage fashion.
You can find inspiration from other jewelry sellers until you find your own path. You can always start with one and then either change or expand to more niches of jewelry.
Create a Business Plan
Every business needs a business plan. This is a plan consisted of goals, target audience, marketing strategies, financial strategies, team, and resources.
It needs to be detailed and followed closely, especially in the beginning while your business is still growing.
Start by providing a summary where you will explain what your business is about in simple terms. What you will sell, your niche, the company’s purpose and funding options.
Next step is defining your business goals. You should have long-term and short term goals regarding sales, revenue, and brand building. This way you can easily track your performance and see whether you need to make changes and improvements and in which section.
Furthermore, you need to find your target audience. You need to know who buys your jewelry. Not everyone will take interest and that is normal.
For example, if you sell Agapé’s gold-plated jewelry, your target audience will be vast since these are timeless chic pieces that appeal to both younger and more mature audience thanks to the noble materials and uniquely hand-made designs.
The more you know about your audience, the easier to develop strategies that will work out effectively.
Choose Your Platform
Having one solid distribution platform in the beginning is crucial. Setting up an online store or selling through social media are the two most common ways jewelry businesses start.
The beauty of selling online is the chance to diversify and easily switch through platforms. As soon as you create a name for your yourself and people recognize your products, you can sell on multiple platforms or stick to one.
Find a Reliable Jewelry Supplier
Sourcing your jewelry is the most important part of your business. Finding a reliable source that will guarantee the amount of pieces you want to sell is crucial is you want to run a stable business that people can count on.
At Agapé we offer original and high-quality gold-plated jewelry and we keep our promises on reliability and excellence. Our jewelry is hypo-allergenic and free of any harmful metals that can cause skin problems.
We plate our pieces with 3 microns of 24k gold. This is more than any gold-plated jewelry in the industry, as standard practice is usually 1 to 1.5 microns.
Our thick plating ensures that the jewelry does not tarnish easily and with proper care, keeps its shine for the years to come.
Set The Right Prices
Pricing your jewelry right is key here. Buying wholesale jewelry means that you are getting it at a lower price than retail which gives you the opportunity for a profit by selling it at a higher price.
However, you don’t want to set a price too high that your potential customers run to your competitor nor a price too low that you run a loss. You have to find that balance that allows you to cover your expenses and turn a profit.
Don’t worry if you don’t get it right the first time though. Running a business is all about trial and error and correcting as you go.
Finally, you have to set up a payment method and think about refunds and returns. A good customer care will take care of these things so that you have happy returning customers who built trust in your brand.
The Right Marketing Strategy
Showcasing your products correctly and to the right target audience is how you promote your online jewelry business too. Your reputation depends on how you present your pieces.
Remember, jewelry is about looking and feeling good, therefore, showcasing your jewelry brilliantly will attract more customers.
Your social media should always be updated with the latest pieces in a captivating and attractive manner with accurate and engaging product descriptions.
We always want our partners to succeed, so we recommend building an effective online marketing strategy and follow it.
Determine your marketing strategies and channels to promote your product - SEO, Social Media Marketing, email marketing, regular newsletters, paid ads and organic promotions.
FAQ: Online Wholesale Jewelry Business
How do I find reliable wholesale suppliers?
Depending on the type of jewelry you want to sell, you can search through our gold-plated inventory of best sellers and other pieces equally loved by our community.
Is Wholesale Jewelry Reselling Business Profitable?
Buying wholesale and selling as retail is very profitable because the demand for jewelry is very high.
When buying wholesale you have initial expenses for buying the jewelry from the supplier and then you need to take the steps that are necessary to increase your sales to ensure you make some profit by pricing the jewelry higher than what your bought it for.
How Do I Increase My Jewelry Sales?
Marketing to your right target audience is the surest way of increasing your sales at any given time. You also need to create the right stocks of the pieces that you sell best so that you don’t run out of them when people want to buy them the most.
You also need to ensure that what you are selling is of excellent quality and following the latest trends so that people are returning to your store for more.
At Agapé, we ensure you get the best possible quality continuously. We take pride is being among the best wholesale jewelry websites and we have been working with our partners continuously helping them expand and turn profit with our ancient-inspired jewelry pieces.
Sell Wholesale Jewelry Online: Conclusion
There are many wholesale jewelry suppliers online and businesses that want to start reselling their pieces earning a profit by buying in bulk. This is a very lucrative business that when done right can earn you huge profits.
You only need to find a reliable supplier like Agapé that will supply you with the best possible quality of 24k plated jewelry and conduct thorough research to find the best business practices to create a model that works with your needs.
For any questions or inquiries on wholesale jewelry supplies, feel free to contact us. We look forward to working together.