Way back 2016 almost 30 million of people buy their jewelry online on a daily basis. Buying and selling your jewelry online is a big business and it could turn out to be very lucrative. With these stats it’s obvious that it’s a huge competition. But, why should you sell your jewelry online?
Why Sell Jewelry Online?
Jewelry has turned into a million dollar online marketplace and there’s no reason not to want it. Because it’s a large consumer product, it has know boundaries. Jewelry appeals to both the women and men no matter what their culture or age is. With that in mind, it also means that you won’t be running out of buyers.
What jewelries are purchased online?
- 50% Diamonds
- 12% Watches
- 12% Other Gem and Pearls
- 18% precious Metals
- 8% others
Sellers can offer a lot of things such as necklaces, rings, bracelets, belly rings, anklets, and others more. Each of these are made from different mediums such as Silver, gold, shells, diamonds, gemstones, beads, and others more. This is very diverse that if you start digging into its multitude options, your head could start spinning. Each unique piece comes with a unique design as well.
How to Make Maximum Profit From Selling Jewelry
Fashion is a very fluid industry, you would need to keep your customers engaged as you update your product range and add new trends to your online store. Make sure that you keep in mind the ever evolving niche of fashion because that comes with new fads and trends. Your customers would always be looking for new pieces that they could add to their wardrobe. You would want to make sure that you know the latest trends even before the devout fashionistas would know.
There are 3 blogs that could help you make sure that you know the trends and the latest variations, there’s Gem Gossip, The Jewelry Loupe, and Gem Obsessed. Gem Gossip was created by Danielle Miele who is a jewelry collector and her blog is mainly about the different jewelries she finds as she travels. She also make sure her followers know what’s hot before the world knows it. The jewelry loupe is by Cathleen McCarthy who is knowledgeable in fine art and jewelries. She’s a contributing editor for a lot of known magazines. Gem Obsesses is created by Cheryl Kremkow who discusses on the innovative jewelries out in the market. Sh usually writes about jewelry designs, trends, and celebrity jewelry. BUt another trick to make sure you’re in trend is by adding the keyword jewelry trends into Google alerts so you could receive a notification when a new article about jewelry trends is up.
STEP # 1 Find suppliers or dropshippers for your store
The first thing you need to worry about is to where you would be getting your jewelry. You could choose dropshipping or wholesale. When you purchase wholesale, you order larger quantities of jewelry and keep them at your place. This is the usual way of doing business but take note of its pros and cons.
- Maintain more control over the quality
- Ship faster
- Own packaging
- Minimal storage because jewelry is small
- Buy wholesale is more expensive
- You would be stock with large amount of inventory
For dropshipping, there are also Pros and Cons
- Typically less expensive in the long run
- Shipping and packaging is done by supplier
- No need to get a warehouse
- You could lose control over the process of shipping which could take a longer time for your customers
- You don’t get to check the quality
- Customer service becomes harder since you aren’t the person shipping out the products
There are a lot of opportunities when you purchase wholesale, and most manufacturers would be glad to give you a wholesale discount. If you choose wholesale you can check Alibaba, if you prefer dropshipping you could check out AliExpress.
STEP # 2 Vetting Jewelry Suppliers
Whether you would or would not do drop shipping or if you would purchase wholesale, the vetting process is the somewhat the same. Vetting suppliers of jewelries is a bit different from other niches.In AliExpress, your jewelries could be 2 things, it could b great or terrible so you would need to figure some things such as:
- Is the quality okay with your standards? Th picture isn’t the best way to determine quality
- Do you have a point person to check in with? You have to be able to reach someone if something goes wrong or problems arise.
- Is it a reputable company? Is it financially healthy? How about the complaints?
Knowing the compliance and financial health would need quick research. There are information about the suppliers on their website, from press release, or from people who have worked with the supplier. When you find a point person, you get to be able to contact them through phone. One thing to make sure is would be to know who the point person is.
Tiffany Co. as well as Gucci and all the other brand names have a lot of counterfeiters. While it could be fun to purchase and haggle for some counterfeit Bvlgari earrings but if your customers would pay for top dollar counterfeit jewelry and learn it’s not the real deal they definitely won’t appreciate that.
STEP #3 Building your reputable online store
Jewelry stores are a bit similar with the other online stores but with less clutter. People would want to see the jewelry right away and the descriptions and pricing too. Places like Shopify and Bigcommerce has templates specifically designed for jewelry stores. When you select a theme designated for the world of jewelry, you would want to make sure that your store is mobile responsive together with other marketing tools and amazing management area.
Step #4 Promoting Your Jewelry Brand
Marketing your jewelry brand effectively takes deep understanding of how jewelry effectively sells. This is similar to the clothing industry where the people are likely to see the items as it is out and about and when worn. When you want to learn how to effectively sell jewelry online:
- Get as more people as possible to wear your jewelry. You could ask famous people, your family, and even friends.
- Focus on marketing it on Social media ad campaigns.
- Capture beautiful pictures showcasing your jewelry both on people and off.
- Start with an email list then integrate it with rewards and coupons.
- Wear your jewelry so people would notice and ask where you got it.
- Tap into other channels such as Amazon,eBay, Etsy.
Tips Before You Setup Your Store
- Make sure that you create your own niche for jewelry. When you don’t have a specific niche, your store has a higher chance to flop. This wouldn’t restrict you, it would make sure there is order in your store. Just the same with clothing, people would be shopping for staple pieces of clothing. When a person needs a statement necklace they won’t be checking out in bracelets, or earrings to find what they need.
- Crate deals your customers would have a hard time passing up.
Online Jewelry sells on a daily basis. A lot of people purchase jewelries online and there’s only a few jewelry niche available. This article has all of the things you would need to know in order to start your jewelry store online successfully.