There will be a sizeable growth potential for online wholesale jewelry industry due to the booming e-commerce market. A huge number of new online wholesalers are emerging. So, whether you are a buyer browsing the internet or a jewelry wholesaler preparing to enter the online wholesale jewelry industry, knowing the future of online wholesale industry can help you to make the best choice and move in the right direction. Here are 5 important things you need to know about the online wholesale jewelry industry.
- What is wholesale jewelry industry?
- Why you should tap into wholesale jewelry industry?
- New opportunities for wholesale jewelry industry
- The future trends of wholesale jewelry industry
- Making wholesale jewelry industry works for you
What is wholesale jewelry industry?
Wholesale Jewelry market refers to a market where jewelry products are purchased in bulk and sold to customers or bulk jewelry retailers to operate their businesses. By selling jewelry in large quantity at a lower price, those small retailers or new wholesalers can buy bulk jewelry at larger discounts to wholesale or resell. Meanwhile, the B2B e-commerce trading platform enables online jewelry wholesalers to offer a wider collection of bulk jewelry pieces with high quality and competitive prices. However, good after-sale services can also be guaranteed. For example, Jewelrykg is one of the fast-growing onlinejewelry wholesalers who has won great popularity around the world.
Why you should tap into wholesale jewelry industry?
The development of the e-commerce has brought the changes of consumer shopping habits. So, more and more people are shopping bulk jewelry online instead of going to off-line retail stores.
let’s look at a set of figures:
From 2012 to 2021, the online jewelry sales increased by 3.9% on average each year, and expected to reach at £21.4 billion this year. In addition, the Compound Annual Growth Rate (CAGR) is expected to be 12.3% from 2020 to 2025, that is also to say, to a large extent, the value of your investment of the online bulk jewelry will increase by 12.3 % per year. Plus, according to the statistics, North America is the largest bulk jewelry market worldwide. And Asia is catching up with it at a rapid speed.
In addition, compared with jewelry stores or retailers, when you buy a necklace from the jewelry retailer, you may pay for this necklace at a high cost, not only does it include the delivery and shipping fee, but also the commission of the salesman. Therefore, buying bulk jewelry online can be a good choice to cut the extra costs.
New opportunities for wholesale jewelry industry
- Social media marketing
First of all, the growth of social media makes it one of the most efficient and helpful marketing tools for online wholesalers to promote and raise the awareness and interests from buyers. Therefore, by showing information and story of their own brands, people on social media, such as Facebook, Instagram, Twitter, can better get the latest wholesale jewelry trends and information of their trusted wholesale jewelry suppliers, or be attracted to buy the wholesale jewelry pieces posted on the social media platforms.
- Better customers experience
In addition, effective and excellent after-sale service is of vital importance for every online wholesaler, and most online buyers are paying more attention to their shopping experience from the Internet. Therefore, more and more online wholesale jewelry suppliers, for example, Jewelrykg, are providing superb and considerate after-sale services to every customer, like excellent refund and shipping policies.
- Trust and credibility
Plus, every buyer wants to find a reliable wholesale jewelry suppliers online, and the trust and credibility are the key factors for a good jewelry wholesaler. Meanwhile, nowadays, people are more concerned about the process of manufacturing products and the reviews and comments of other buyers. Therefore, reputation and credibility is becoming more and more essential for every jewelry wholesaler.
The future trends of wholesale jewelry industry
People can always find numerous different styles of jewelry online. However, nowadays, more and more customers are looking for the one that can show their own personality and lifestyle, as a result, with the demands growing, customization can be one of the future trends of the online bulk jewelry industry. For example, getting customers’ names, or particular words or sentences carved on the jewelry pieces.
- Virtual Assistants
Next, virtual assistants is one of the most popular technologies of e-commerce in 2022. They are mainly used to help customers to deal with the FQA, make purchases, and give recommendations of their suitable jewelry pieces. In addition, virtual assistants can optimize the shopping experiences and help customers to quickly solve the problems that they may encounter during the purchasing process.
- Technical details
Moreover, for customers mainly make purchasing decisions by looking at the product descriptions, which include the image, materials, styles, sizes, weight and so on. As a result, the traditional way of demonstrating a piece of jewelry can be time-consuming and tedious to attract customers. So, more technical details can be helpful to help customers have a pleasant and real shopping environment. For example, embedding the panorama in the websites can lower the return rates and make it easy for customers to make a decision.
Making wholesale jewelry industry works for you
Wholesale jewelry industry is booming and has a promising future. If you want to have your own online wholesale business, what you need to do is to find a reliable supplier to build a long-term relationship. Jewelrykg can be your most trustworthy partnership. If you have been failing to find an excellent online jewelry wholesaler, then choose Jewelrykg, you will be always put in the first place, and get the high quality bulk jewelry pieces at cheap prices.
To conclude, the future of wholesale jewelry industry is promising. Change certainly exists everywhere. However, as long as you seize the opportunity and strive for your ultimate goal, you will surely make it.
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