If you are planning to step into the cheap wholesale jewelry industry, it can be a great idea. Not only does it have a huge consumer base, but also has no seasonality. The demand for buying cheap jewelry seems to never decrease.
However, for any business, earning short-term profits is easy to do, what is difficult is how to maintain the long-term operation. If you want to win a competitive edge by selling wholesale jewelry nowadays, seizing every opportunity is absolutely necessary.
So, what are the opportunities in front of you right now? How can you make money by selling cheap wholesale jewelry? This blog will tell you the answer.
Tips for selling cheap wholesale jewelry: market trend
First of all, you have to understand the market dynamics with close tracking of the competitive situation. Only a truly comprehensive understanding of the analysis of the cheap wholesale jewelry market can help you identify your problems and formulate market strategy correctly and timely.
So, what are the market trends of wholesale jewelry right now?
- E-commerce will lead the way ahead
Nowadays, an increasing number of B2B jewelry wholesalers are selling products online. Some of them set up online stores on those large e-commerce platforms like Amazon and Alibaba.com, while some set up their own website. Whatever form they take, we can see that e-commerce has been a winner for early adopters. And having a wholesale e-commerce sales strategy can be the secret to success in the future.
- Growth of DTC
According to the relevant data, in the United States, the total sales of DTC brands have already reached $117.47 billion this year. By 2024, it is expected to achieve $161.22 billion.
Many wholesale jewelry suppliers are facing severe pressure due to the increasingly high requirement for an efficient supply chain. As a result, more and more businesses are building DTC channels to cut out the wholesale and retail middlemen, thus selling cheap wholesale jewelry directly to customers.
Providing your customers with a seamless shopping experience is very important. People love to enjoy more personalized and easy options. Therefore, they may want to be accessible to multiple channels to get your services.
So, in order to gain more flexibility, you have to achieve an integration between distribution, promotion, and communication channels. And the key to providing a seamless omnichannel experience is an efficient supply chain system. For example, you need to extend your wholesale jewelry delivery across webs, apps, social media platforms, and physical stores.
Tips for selling cheap wholesale jewelry: market niche
If you are planning to sell cheap wholesale jewelry online, identify your target audience and stick to your requirement. Generally, a clear and strong positioning plays an important role in the competition, undoubtedly it will help your brand stand out among numerous cheap wholesale jewelry sellers.
So, for cheap wholesale jewelry, these two categories are the best investments.
- Fashion costume Jewelry
Costume jewelry pieces are usually made of inexpensive materials, including copper, brass, stainless steel, glass, resin, rhinestones etc. Many young generations are crazy about buying such fashionable costume jewelry pieces because they are affordable and in rich styles. In addition, without costing too much, fashion costume jewelry is highly suitable for daily wear, and almost everyone can afford to buy such fashion pieces to highlight their beauty.
- Rich styles
- Suitable for daily wear
- Sterling Silver Jewelry
With 92.5% of pure silver and 7.5% other alloys like copper, sterling silver is a great alternative to pure silver or gold jewelry. For those who want to buy fine jewelry at lower costs, then sterling silver jewelry can be a wonderful choice. Unlike other cheap wholesale jewelry, sterling silver is much more valuable and good in quality. However, if you want to buy sterling silver wholesale jewelry at low costs to sell, finding a reliable cheap wholesale jewelry supplier who has no middleman is the key. For example, Jewelrykg can be your perfect option.
- More valuable
- High quality
Tips for selling cheap wholesale jewelry: supplier
If possible, find suppliers who have their own factories. To compete effectively, you have to reduce costs as much as possible. For example, you can outsource your wholesale jewelry production to Chinese manufacturers, who are much more advantageous with low labor costs and high production capacity.
However, how can you identify a good cheap wholesale jewelry supplier?
- Quality assurance
When selecting suppliers, the one who offers you the lowest price may not be the best choice. Instead, quality is always in the first place. Therefore, it is essential to know whether your supplier has a direct delivery time, quality assurance, and high contract fulfillment rate. For example, you can evaluate the jewelry quality by asking for samples, buyer reviews, and understanding quality control measures.
- Low MOQ
If you are not sure whether the wholesale jewelry pieces you want to buy are in line with your business, it is safe to choose those suppliers with low or no MOQ. Especially when you are a start-up, be sure to ask your suppliers what the MOQ is. Ordering frequently and in a small amount is helpful to reduce your financial burden. For example, compared with other suppliers, Jewelrykg can offer you no MOQ. One piece is also at wholesale prices.
- Return policy
A friendly return policy can help you save a lot of money and unnecessary hassle. What’s more, the return and shipping policy is also a good reflection of the reputation and production capacity of the supplier. For example, a common return policy is a return within 7 days, but it’s usually for faulty jewelry. However, there are some good bulk jewelry suppliers, like Jewelrykg, that offer a 15-day return for no reason. Meanwhile, a good return policy can also show a supplier’s product quality and service attitude.
A rising star in the wholesale jewelry industry: Jewelrykg
- Who is Jewelrykg?
Jewelrykg is a leading Chinese wholesale jewelry supplier that offers cheap fine wholesale jewelry and superb services to the world. They offer a wide variety of daily-updated high-quality fashion jewelry at great prices and no minimum order quantities. However, Jewelrykg has gained considerable fame and is growing with unprecedented speed in recent years.
- What sets Jewelrykg apart?
Actually, a unique competitive advantage of Jewelrykg, is their highly cost-effective procurement model: jewelry wholesale by kilogram. In 2020, Jewelrykg launched a new sales model that no one had ever done before: jewelry wholesale by kilogram.
Compared with buying jewelry in bulk, buying jewelry by kilogram is a much more cost-effective way. In general, one kilogram will contain 100-350 pieces of jewelry. The jewelry is randomly placed in the package, and the price is calculated according to the weight.
In the past, selling by kilogram was not a new thing, however, there was a lack of a powerful platform to enter this field, and Jewelrykg played that role. For Jewelrykg, one end is connected with the factory’s quality supply chain, the other end is connected with consumers.
- The future of Jewelrykg?
Until now, Jewelrykg already has a team size of over 500 people, and in only one year, the number of Jewelrykg’s users has risen to more than 10 million.
However, cross-border e-commerce seems to be a mysterious and ambitious industry. In fact, from procurement, logistics, contract performance, operation and cash flow, every step is full of uncertainty. Jewelrykg has established a good reputation to maintain its leading position in the market competition, and it will keep striving for excellent service quality, and creating more business value for customers.
E-commerce has brought about a new revolution of online businesses and new companies are facing talented, quick-responding competition at a pace never before seen. The competition among enterprises becomes more and more drastic. In order to win the market, so as to put itself in a stead station, you have to find your own differentiated competitive strategy.
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