Whether you have a small boutique or a large retail store, buying wholesale jewelry supplies is a must if you’re selling fashion. It’s an accessory that highlights different parts of your body and gives the world a small glimpse at your personality.
Fashion jewelry is another name for costume jewelry. There are many designs available on the market. You need the ones that will please customers and increase your bank account.
Wholesale jewelry is multi-functional. For those who like to wear solid-colored clothing, jewelry adds a pop of color. With the right jewelry pieces, you can dress up a casual outfit when you don’t have time to change. There is a jewelry option for just about all body parts, from earrings to toe rings.
Selling jewelry in your shop can mean substantial profit margins. But how can you know which jewelry is the right jewelry? Keep reading. We give you nine must-know tips for buying wholesale jewelry supplies.
1. Understand Your Customer
Picking jewelry is a lot easier when you’re picking it out for yourself. Choosing jewelry to resell to customers is more challenging. It’s essential to keep up with trends in the fashion jewelry market and provide a diverse selection. For example, rather than have one bangle bracelet, get a cuff and wrap bracelet to offer options to your customers.
Pay attention to what your target audience is purchasing and find fashion jewelry that matches their style. Stay focused on demand.
2. Find the Right Wholesale Supplier
Buying wholesale jewelry supplies can happen in various ways, like attending trade shows, searching online, and word of mouth. Do your homework by reading reviews and reaching out to other buyers. Most importantly, they will have many or all of the items you want to sell. If you can source everything you need from one supplier, you will save money and time.
The right wholesaler will have many designs and styles from which to choose. They will be up-to-date with fashion jewelry trends, and they will offer products at a discount that allows you both to make money.
The right wholesaler provides open lines of communication and wants to build a lasting relationship with you. They offer high-quality jewelry and are reliable, meeting shipping deadlines, so you don’t miss a day of selling. They also let you purchase small batches to test the product before purchasing larger orders. Shipping costs are reasonable and meet your deadlines.
You want a wholesale supplier that sees you more as a partner than a buyer. They want you to succeed and find ways to help you reach your retail goals.
3. Think Gift Giving
Not all customers are purchasing products for themselves. They have in-laws, siblings, children, parents, and best friends who have many dates to celebrate each year. When buying wholesale jewelry supplies, think of holidays and birthdays for that special someone. You may consider reselling jewelry sets as gifts too. You can work with the wholesale supplier on bundling discounts.
4. Test Your Taste
When buying from a wholesale supplier, you aren’t always required to purchase large amounts. Your first order can be a small batch that you use to test the product in your shop. Purchase a few pieces of jewelry and see how your customers respond. The feedback, or lack of feedback, can give you great insight into how well your taste matches your customers.
Social media is the perfect place to show off a new piece of jewelry and get honest feedback from your followers. Take a great picture of the jewelry paired with clothing for sale in your shop. Post the image to your social media page. Ask for feedback. You will quickly know if your taste matches that of your customers.
Buying in small batches means you won’t get stuck with many products that didn’t sell if your customers lack interest, saving you money in the long run.
5. Variety is Good
No two customers are the same. By having various jewelry designs and styles, you have a better chance of pleasing more customers. If you have teenage customers, think of young and fun jewelry. If you have many high-end customers who like name-brand items, make sure they are available in your shop.
Variety can be in the types of jewelry you resell. Decide which body parts your customs want to adorn.
6. Marketing Matters
To resell in your store, every item you buy needs to be marketed to the masses, including jewelry. When you find things you like, think about your marketing plan before purchasing. Is the jewelry easy to photo and post to social media? Will you run promotional offers to long-time customers? Can you throw a private party for those special customers, giving them first access to your new products?
Once you have a list of ways to get the word out about the new fashion jewelry in your shop, enjoy making purchases.
7. Find Your Niche
For some retailers, it’s better to find a niche rather than compete with other retailers selling similar products. Niches are sub-categories that help you narrow options. For example, rather than choosing the broad category of gold bracelets, get more specific and create a niche like gold chain bracelets for men. Or gold charm bracelets.
The smaller your niche, the higher your profit margins because you aren’t selling a generic, mass-marketed piece of jewelry.
8. Ask for Deals
Wholesale suppliers often discount promotions and sales. Don’t be afraid to ask for deals and discounts. As you build relationships with your wholesale contacts, they will send you insider tips on upcoming sale events. If you don’t ask, you will never know.
9. Have Fun
Buying wholesale jewelry supplies should be an enjoyable experience. You’re in the fashion business for a reason because you love it. Part of why you love it has to do with making customers look and feel great. Keep that goal in mind.
Get excited about buying wholesale fashion jewelry from a wholesale supplier. Make your customer’s day.