With the rapid development of the Internet, the advantages of the e-commerce is plain to see. For jewelry wholesale industry, many jewelry wholesalers have made large profits by selling bulk wholesale jewelry online. However, as an information technology leap, e-commerce has changed the competition way of different online players, the influence is profound and huge. Nowadays, there are countless online jewelry wholesalers make great losses every year. Price competition is no longer available, instead, the competitive strength for an online business is the key.
So, how to get a foothold in the jewelry wholesale industry? If you are an entrepreneur, and stepping into the wholesale jewelry market, then you should not miss this guide. In this article, we will look at the successful story of a famous jewelry wholesale supplier: Jewelrykg.
Fierce competition of jewelry wholesale market
The marketing director of Jewelrykg says: “Consumers are final possessor and evaluator of any brand. Jewelry wholesale industry has moved from the production-centric model to consumer-centric model, design and creativity become ever more important.”
With Generation Z becoming the main consumer force, the personalized and diversified consumption have become the mainstream. They love social medias and highly focus on the quality and pleasant shopping experience. As a result, traditional companies with low production efficiency and slow update iterations are on their way out.
Take Alibaba as an example: the market scale of wholesale jewelry and fashion accessories accounts for more than 70 billion RMB.
But unlike other jewelry suppliers, Jewelrykg has its own e-commerce platform.
A new face in the jewelry wholesale industry
By establishing its own website, Jewelrykg is always embracing the changes and challenges. Many wholesale jewelry companies are on the way of the e-commerce, hoping to take a share of the spoils. Among them, some of them choose to cultivate their own brands by establishing independent stations to develop loyal customers. Jewelrykg is one of those success stories.
As a leading Chinese wholesale jewelry supplier, Jewelrykg is growing by leaps and bounds Within a year, It had secured multiple rounds of funding. And built long-term relationships with more than 150 well-known jewelry wholesalers within six months. What’s more, it has achieved more than 100% revenue growth for five consecutive years. Why?
In recent years, the DTC business model has taken many industries by storm, allowing many new brands to rise quickly. In a very short time, the traditional B2C brand has completed the development path of 5-10 years by embracing DTC.
What is DTC?
DTC business model refers to the business model in which enterprises can directly reach consumers and focus on consumer experience.
Characteristics of DTC:
No middlemen: DTC business model doesn’t need any wholesaler or retailer to manage products.
End-to-end: DTC brands can process an all-in-one order management from manufacturing, marketing, selling, to shipping.
Platforms: DTC companies usually use platforms like Instagram, Facebook, and Google etc. to sell their products directly to consumers.
Successful story of Jewelrykg
By eliminating middlemen and reducing distribution channels, Jewelrykg can completely control the customer experience from product selection to delivery. Not only does this increase loyal customers, but also provide a better understanding of their business, as well In addition, “no middleman” means lower distribution costs. Meanwhile, by collecting feedbacks from customers, which can directly be reflected, Jewelrykg has also created a faster and stronger flexible supply chain.
However, because Jewelrykg has their own wholesale jewelry platforms, rather than open trading platforms like Alibaba, Jewelrykg also have to face the pressure on inventory and cash flow. But, it is because of this kind of supply chain model that gives Jewelrykg a complete control over every part of the brand.
An innovative sales model: jewelry wholesale by kilogram
Last year, Jewerlykg introduced a new sales model: jewelry wholesale by kilogram. This makes the jewelry prices can achieve 25 to 30% lower than other websites, thus attracting a large number of consumers. On the one hand, this new wholesale model allows customers to purchase high-quality wholesale jewelry at a low cost. On the other hand, those who buy from Jewelrykg can gain a huge competitive advantage by selling those jewelry wholesale at a lower price than their competitors.
What is wholesale jewelry by kilogram? How does it work?
Compared with buying jewelry by the bulk, buying jewelry by weight is a more cost-effective way. In general, one kilogram will contain 100-350 pieces of jewelry. Customers can choose all the best-selling jewelry in different styles and materials according to their preferences, and the final price is calculated by weight, which can keep the inventory costs to the lowest level.
Therefore, it was warmly praised by many jewelry wholesalers when this model was launched.
Jewelrykg also achieved:
- No MOQ
- Top quality, all the jewelry pieces have integrity, no rust, no oxidation.
- Rich product line, diversified product styles per kilogram, and suitable for self-use or wholesale sales.
- Independent packages.
- Complete after-sales system.
- Free selection. Styles are sent randomly and full of surprises.
Why choose this model?
Because Jewelrykg’s original aspiration is to let everyone get high-quality wholesale jewelry at low prices. They want every customer can enjoy a cost-effective procurement model.
Compared with traditional bulk procurement, some bulk jewelry suppliers may accept samples, inventory jewelry and foreign trade tail lists from traditional jewelry manufacturers, and then recycle these products and wholesale them to retailers. However, the quality cannot be guaranteed. By selling jewelry by weight, every customer can buy jewelry with high quality and low price.
Just as Jewelrykg says: “We understand that purchasing jewelry can be a complicated process—especially when you’re running a business. We want to simplify things for you by offering the widest selection of jewelry at the best prices. ”
Jewelrykg also helps many small jewelry manufacturers build sales channels around the world. It also provides efficient logistics, quality inspection and design services, which greatly enhance the jewelry retailer’s operation efficiency.
There is no shortcut to success, “insist” is the best policy. Jewelrykg’s success is not an accident. Successful business model positioning, cost-effective products, efficient supply chain, and successful DTC marketing practices have created the successful story.
Thank you for reading this blog, hope it can provide you with some helpful information.