Selling Jewellery Wholesale Few Mistakes To Avoid!
When wholesale suppliers capitalize on their idea of launching a new business
, their top most fear remains inability to take lead from competitors. The increasing competition in wholesale jewellery market has made it very hard for new businesses to operate successfully. However, as soon as you enter into jewellery business, this fear eliminates automatically. This is because Jewellery has a hot market and its demand never declines.With varying trends and desire to look fashionably different, the demand of fashionable, traditional and antique jewellery among buyers has drastically increased over the years. Despite the fact that jewellery industry welcomes wholesale suppliers and guarantees them lucrative returns on investment, a large number of entrepreneurs are forced to kiss this industry goodbye. For this, their wrong operational strategies should be blamed not the competition in jewellery industry.
If jewellery wholesalers take a wise start and avoid various fatal mistakes, they cannot only earn recognition in the market but can also give a tough competition to established jewellery wholesalers. Some of the mistakes, which they should avoid before expecting sond returns, include the following.
Mistake # 1: Those suppliers who source only cheap lines of jewellery are bound to leave the industry within a couple of months. Although, women are not price conscious but they prefer buying expensive, stylish and classy jewellery, which may enhance their personality image. Therefore, it would be wise to keep a stock of 50 expensive items than a simple stock of 200 cheap items.
Mistake # 2: Always place orders according to changing trends and fashions in jewellery industry. Be it a necklace, earrings, rings or any other jewellery item, sterling silver and antique Wholesale Jewellery always remain in fashion. On the other hand, if you are selling costume jewellery, its life span is 4-6 months so what you sold last year may not sell this year. To avoid storing cost, you must update your stock with changing fashion.
Mistake # 3: If you dont find garish necklaces, bright earrings, unusual rings and shocking bracelets attractive, this does not mean they should not make the part of your stock. Modern women want to look different and unique and they like experimenting with new styles and designs of jewellery. Though you should also stock handful of regular jewellery which every woman likes to wear but be adventurous and dont hesitate to take risks with new bright and bold jewellery.
Mistake # 4: Some suppliers assign the work of product souring to males, which is the biggest mistake they make. According to certain observations, men dont pick jewellery in bold colours and styles. They never buy large items in pink, orange or blue shades and the worst part is that they dont even realize it. This is why assigning the work of Jewellery sourcing to a woman who knows fashion is the best option.
Mistake # 5: Many suppliers in order to build brand image start selling jewellery at just above the break-even point. Business of jewellery wholesale is about making profits, this strategy will narrow down your profit and destroy your brand in the market. Modern women arent price conscious but certainly quite brand conscious and they consider the quality of low priced items inferior. To demonstrate your product potential to customers, always set competitive Jewellery prices.
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