Choosing jewelry for women for your boutique is a delicate yet fun process. Here’s a helpful guide.
Reports on how women purchase jewelry show major changes happening. The fact that women are buying their own jewelry is one. Currently, 56% of jewelry buyers are women between the ages of 25 and 34. Out of this group, 35% prefer white gold.
People of every income level and age are spending money on jewelry each year online and in the 52,331 retail stores in America. Women over 55 typically spend around $1200 yearly on jewelry, while those below 55 spend about $600 annually. Women earning six figures or more tend to spend more, closer to $2000.
Choosing Jewelry for Women
The group of women who buy jewelry for themselves the most are said to be professionals with established careers. They are making good money and know they deserve a nice piece of jewelry. A new trend is women paying for their engagement ring, either partially or wholly.
Not every woman is looking for white gold or engagement rings, though. Some want flashy costume jewelry that lasts only for the season. Some want high-end metals, and others want leather or mixed materials.
As you choose jewelry for women, try to find a niche.
Your Female Customer Niche
You can’t target all females. It’s impossible, and it wouldn’t be any fun trying to please everyone, which is also impossible. Instead, discover your niche, which is a smaller, specialized category. Doing so will help you attract long-term, loyal customers.
Finding your niche involves answering the following questions:
- What is your expertise? You must be knowledgeable about the jewelry you are selling. The more you know, the easier it will be to convince your customers that they need it. You can pair jewelry with clothing and accessories for your customers to elevate their style.
- Who fits your jewelry style? It will be challenging to sell leather to a vegan or sports-themed studs to a bride. You must know your customer’s style to match it and attract new customers with the same style.
- What are the demographics? You can envision your perfect customer, but it is a good idea to define them with great detail. Include age, career, lifestyle, hobbies, and more. The more details, the more your niche will narrow.
Keep Narrowing Your Niche
Jewelry niches start broad and then taper to a smaller category. You may begin with jewelry headings like fine, paper, resin, sports, casual, designer, wedding, engagement, or handmade. Then, break the first category into smaller ones.
Suppose you want to sell handmade artisan jewelry (niche). You must now decide which types of handcrafted artisan jewelry to purchase (narrowing your niche). Do you want to sell necklaces, bracelets, rings, or all of the above? Do you want to sell resin, metal, or leather jewelry?
You must also consider profit margins, storage, shipping, and quality. Narrowing your niche is not difficult; it simply takes thoughtful planning. You want to have the go-to boutique for specific jewelry. By taking a few extra steps, you can narrow your niche to determine your final choices.
Social Media Stakeouts
If you struggle to decide which types of jewelry to sell in your boutique, become a jewelry private investigator and conduct some online stakeouts. Look at pictures from your competitors, your customers, celebrities and influencers, and jewelers. Join jewelry groups and participate in conversations with women in your area about their preferences. Read reviews, comments, and feedback people post online.
Check out the jewelry people share and like with friends and family. Also, visit the social media pages of wholesale jewelry suppliers. They get information about upcoming trends directly from the designers and manufacturers. Don’t be afraid to ask potential customers, wholesalers, and makers the questions that will help you make the best purchases. You can even create an online survey or poll to get feedback.
One of the most important decisions you will make is where you purchase jewelry that you want to resell in your boutique. Many successful retailers choose wholesale supplier that offers jewelry, clothing, accessories, and gifts. Doing so saves them time and money. It also reduces stress since buying is streamlined.
When you search for a wholesale supplier, look for the following:
- Wide variety of jewelry options in case you want to change your niche later
- Jewelry trends match that of other suppliers and the overall industry
- Bulk pricing options that include shipping fees or other discounts
- Small batch ordering so you can test products before making a larger investment
- Ordering and shipping deadlines and how they help you if they miss a deadline
- Returns on products that arrive damaged
- Product descriptions are accurate
- Customer service representatives are accessible and eager to help or answer questions
Buying jewelry from a wholesale supplier is an easy way to stay organized and meet your revenue goals. But you must choose the right one.
Your goal is to make your women customers happy. They may walk into your boutique feeling tired, and they may look disheveled. But when they walk out, they can feel renewed, stylish, and like a million dollars (or at least as much as they paid for their jewelry).
You can help your customers by purchasing wholesale jewelry that will complement the colors of the clothing you sell. Customers should be able to coordinate the jewelry with their style easily. Provide a variety of jewelry pieces that match multiple skin tones. Make sure the jewelry fits with the season or event. Make sure it is consistent with your brand and your company’s mission.
You are the owner of a boutique. You answer to no one. You are buying jewelry at a low cost and selling it at a high price, giving you significant profit margins. Could it get any better? Yes, it can. Think about the smile on your customer’s face when they fall in love with that necklace, ring, bracelet, or earring that make them feel and look great.
Their smile will make you smile.