The emergence of e-commerce has brought great changes to the jewelry wholesale industry. With the influx of new players, not only the traditional jewelry wholesalers are facing a serious impact, but also the online jewelry wholesalers are facing increasingly fierce competition. It seems that the jewelry wholesale industry is at a crucial turning point.
For jewelry wholesalers, low price is generally a short-term tactic that can quickly penetrate and withdraw from the market. However, the low price should just be a business strategy, not an advantage. Successfully running a jewelry wholesale business depends on your innovative thinking and overall arrangement.
So, how to gain a competitive edge in this intense jewelry wholesale industry environment? Please read on, this blog will tell you the answer.
To better know the direction of the jewelry wholesale industry, it is necessary to know the great changes in the jewelry industry.
What has changed?
For the past two decades, jewelry shopping has been limited to offline stores. With the development of technology, shopping places have changed from offline to online. Driven by technologies such as e-commerce and payment, more and more consumers choose to buy jewelry online. Previously, for offline jewelry stores, service is the key. Now, online jewelry stores also need to pay high attention to the overall operation and improvement.
In recent years, with the rapid increase in people’s income, fashion jewelry accessories have already become a necessity in people’s daily life. Especially with the rise of millennials, product individuation become the new pursuit. That is also to say, providing specialized product lines and professional-quality services is becoming increasingly important. The young generation of consumers hope that jewelry can express more emotional appeals, and they pay more attention to the fashion, personalized and youthful jewelry.
Earlier, television, magazines, and newspapers have become the core position of the jewelry industry promotion. However, the adoption of the mobile Internet is speeding up and consumption of content is growing. The marketing of the jewelry industry has been profoundly changed. Social media and short video platforms, in particular, are becoming a must-win for the entire jewelry industry.
What hasn’t changed?
The jewelry industry has been developing steadily for thousands of years and continues to grow. So, there’s always been a strong demand for jewelry accessories. According to IBIS World, weddings account for a large proportion of jewelry consumption. However, with the change of consumption concept, jewelry consumption is not limited to wedding celebrations, but also gradually appeared in the daily decorations.
Consumers’ pursuit of jewelry accessories remains unchanged. Nowadays, the styles, designs, and technology of jewelry have also become the key factors that consumers consider before purchasing. Jewelry with no sense of design, such as big gold chains, will be abandoned by young people. With the transformation of consumers’ aesthetics, the level of fashion jewelry design is gradually improving. In the jewelry industry, design is often the core factor. A good product design or even a small product idea can attract consumers’ enthusiastic pursuit. Therefore, for the jewelry wholesale industry, the improvement of product design capabilities for major jewelry manufacturers is becoming increasingly important.
The jewelry industry needs a large amount of capital to operate the supply chain. Jewelry pieces will go through the purchase of raw materials, design by jewelry manufacturers, production by processors, distribution by dealers, and other links. Therefore, there are lots of participants in the industrial chain. In the future, driven by innovation and efficiency, efficient supply chain management and high-quality supply chain services will become the core of competition.
Jewelry wholesale can be easy
It can also be easy to be powerful in the jewelry wholesale market. How to do it? Here are 4 most important tips you must know:
The shift towards digital buying habits can be attributed to the rise of millennials. Nowadays, consumers are heavily involved in online purchasing. Therefore, using an e-commerce platform to sell jewelry wholesale is great to save time and costs. For example, billing and inventory management can be done with software instead of by hand. In addition, it can also help you better track consumer preferences to offer the best service.
Choosing a specific target market for the jewelry wholesale business is very important because you need to narrow your target market to create more loyal customers. For example, you can choose your market niche according to jewelry levels, types, materials, and categories. Such as fashion jewelry, kids jewelry, silver jewelry, etc.
There is nothing more important than your jewelry stock. As a jewelry wholesaler, you have to know the importance of buying jewelry at a reliable jewelry wholesale supplier. Good wholesale jewelry suppliers not only can offer you the best prices but also high quality and fashion styles. And all of these things play a vital role in your sales. For example, Jewelrykg can be a reliable jewelry wholesale supplier that has won a great reputation for many years.
Just as we mentioned before, the marketing strategies have changed a lot. Therefore, you need to widen your promotional channels and create innovative ideas for your brand promotion. For instance, you can promote your business through paid ads, blogs, emails, online and in-person networking, discounts, social media platforms, and so on.
A pioneer in the jewelry wholesale industry
When it comes to starting a jewelry wholesale business, most jewelry suppliers will choose to start their businesses from online e-commerce platforms like Amazon, AliExpress, Alibaba, and so on.
However, due to its own excellent comprehensive strength, Jewelrykg stands out by establishing its own website. By eliminating middlemen and reducing distribution channels, Jewelrykg can completely control the customer experience from product selection to delivery.
In addition, as a pioneer of the “jewelry wholesale by kilogram” sales model to overseas markets, makes it easy for wholesale jewelry buyers to enjoy a highly cost-effective shopping experience. By integrating the cost and quality advantages in the field of small and medium-sized goods of Chinese manufacturing, the F2B2C (Factory to Business to Customers) has been realized.
What is jewelry wholesale by kilogram?
This is not a new thing to the wholesale market, however, there is not such a powerful company to introduce it to the overseas market. And Jewelrykg has become the first pioneer in the jewelry wholesale industry.
Compared with buying jewelry by 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 at the lowest level.
Since 2020, “jewelry wholesale by kilogram” sales model was formally introduced to the overseas market, from which people can gain easy access to quality, cost-effective Chinese products. This makes the jewelry prices can achieve 25 to 30% lower than other websites, thus attracting a large number of consumers.
Can I be successful in the jewelry wholesale market?
For most business start-ups, when you try a new strategy, you may feel confused and panic because of the large uncertainty of the future. After all, how can you accurately assess you are iterating down the right path for your product and company’s success, and not simply digging further into a rat hole? However, as long as you are sure to move in the right direction,
What you need is persistence and patience, all the dark times you go through are worth it. Just as Jewelrykg did.
Under the trend of consumption upgrading and market scale expansion, some jewelry businesses with weak strength, ambiguous brand positioning, and lack of distinctive products will face elimination. The future winners in the jewelry wholesale industry will be those with high brand value, strong capital, and clear positioning.
In the intensely competitive environment, the competition between companies more and more lies in the all-around strength rather than a single product or service. It is of course possible to sell jewelry wholesale as you own. However, it would be much easier for you to cooperate with someone who can help you every step of the way. If you need such a partner, you can start with Jewelrykg. They will be your best reliable friend.
Thanks for reading this article, hope it can provide you with some helpful information! We welcome any suggestions and opinions, your support is always our best motivation.