7 Tips for Buying Jewelry Wholesale for Resale

2021-05-26

If you want to open a jewelry retail business, you must work with vendors and suppliers who support you in providing the right products to buyers. It is in your best interest to cooperate with jewelry wholesalers. However, the creation of wholesale jewelry suppliers is not consistent. There are big differences in product, quality, customer service and consistency. If you want a wholesale supplier to help your business succeed, please apply the following tips.

1. Figure out what type of wholesale jewelry you want

 

Before you start buying jewelry for resale, you need to determine the type of jewelry you want to display in the store. Think about the message you want the brand to convey.

 

Do you want to create a stylish and trendy brand that sells modern or modern works? Or, do you want to serve customers who are looking for classics?

 

The type of message you want to send largely affects the type of jewelry you want to buy. Before making a decision, please consider your personal preferences and the types of customers you want to attract. After keeping these contents in mind, you can find a supplier that can meet your needs.

 

2. Find a good wholesale supplier

 

Imagine this: some of your new bracelets are very popular, and your customers hit home. You can make a large profit from this jewelry, so you decide to order more jewelry before the current inventory is completely used up. Then, your supplier will delay your order for several weeks, just after the trend has passed. They disappoint you and waste your business costs.

 

On the other hand, you may find brand new products that you are sure to sell. You placed an order, but when it arrived, it was obviously from a low-quality manufacturer. The quality problem is obvious and your customers are not interested. Your supplier has disappointed you and cost your business costs.

 

You have to spend time and energy to find a good wholesale supplier, because this is very important for your wholesale purchase of goods and profit.

 

3. Keep an eye on trends

Don't sell what you like, but sell what the market wants. You cannot do market research before you start a retail jewelry business. It should be continuous. Always keep your ears on the ground and observe trends regularly.

 

Not all jewelry is trendy. Some elegant styles and designs have retained market interest for decades. However, you are running a company, so it's hard not to consider the possibility of unexpected gains from trends.

Understanding trends can enable you to make prudent sales decisions. It can help you avoid accumulating outdated works that were so popular a year or two ago, but hardly anyone wants them now.

 

4. Place a small order and try it

No need to spend a lot of budget to experiment-first, start with a small batch of products containing multiple different items to give you a good sense of packaging, accuracy and quality. (Here, no minimum order quantity will really help you!) Then, once you have made your own judgment, list them in the online store to see how they perform and how customers react to them. If they sell well, you can start placing larger orders.

 

5. Take advantage of peak season

One thing that makes wholesale jewelry resale different from selling clothing or other items is that its peak season is very clear. Although some people will definitely buy jewelry throughout the year, they usually treat jewelry as gifts, whether it's for your important others, your mom or a friend. This means that Valentine's Day, Mother's Day and Christmas are all good seasons for selling jewelry.

 

If you are looking for a new supplier, be sure to place a test order with them in advance so that you have enough time to place a larger order before the major holiday. Then, once those holidays begin to approach, make sure you have enough inventory to take advantage of those peak seasons.

6. Pay close attention to your bottom line

 

Before you start placing an order, you need to consider how much you are willing to spend on inventory. Check your budget and find suppliers who can use that number.

 

Don't forget to consider the estimated markup for each product. Generally speaking, lower quality products will not be able to charge too much. Depending on the wholesaler's price, the increase may be so small that it is not worth working with them.

 

If you are not sure where to start, please feel free to contact other suppliers to let them know your needs. Before you start recommending works, make sure they understand your budget.

 

7. Build a lasting relationship with your suppliers

The best thing you can do is to choose a wholesale jewelry supplier that can work with you for many years. In this way, you can establish consistency in product quality so that your customers can come back with confidence.

By establishing a lasting business relationship with your suppliers, you will be the first to learn about the new product line and even qualify for discounts that new buyers won't get.

 

Conclusion

If you want your business to succeed, you need to understand the ins and outs of buying wholesale jewelry before opening a store. Keep these tips in mind and you will be able to find a supplier with whom you can work for many years.

Once the product is in place, you need to attract new customers and make sure they see your brand as a high-quality company. By cooperating with reputable wholesale suppliers, following best sales practices and continuing to develop your own store, you will immediately profit in the jewelry business of your business. Start this process today as jclovejewelry as a wholesale jewelry supplier.