Selling online artificial jewelry is fascinating! According to an estimate of 2019, 29 million people purchased jewelry online. The number clearly explains that this is a huge business.
If you want to start a business of selling jewelry online? Below are the things you need to know in 2020:
Why Do You Need To Sell Jewelry Online?
Jewelry is a billion-dollar online marketplace. It is one of the best consumer products and it is liked by both men and women irrespective of age and culture. This is one of the best businesses where you will never run out of buyers.
The sellers are offering necklaces, bracelets, belly rings, anklets, and rings. These are just a few to name and each of these products is made from different medium gemstone, shells, beads, diamonds, and much more.
The jewelry business is diverse and if you start digging deep, then you will find out various options to try according to your own choice. There is a possibility that your head will start spinning to see a great variety of choices available.
How To Get Maximum Profit on Artificial Jewelry Sale?
Fashion is a fluid industry. It is important for businesses to keep their product updated for engaging their customers. You need to be stay updated according to the latest trends. There is no doubt that fashion is an ever-evolving niche.
Customers are always looking for new pieces that they want to add to their wardrobe. To ensure that these new hot items stay in stock, you should be aware of trends.
If you want to stay updated about the trends, then you can use words like “jewelry trends” on Google’s Alerts to stay updated. In this way, Google will be sending you the alerts when a new article will be uploaded relevant to your keyword.
Tips For Setting Up Jewelry Stores
If you are planning to set up your online jewelry store, then you need to follow the below tips:
- You should try out the jewelry that you want to wear. This is a good rule of thumb. In this way, you will find out whether it looks good or not. If you are not feeling comfortable wearing it, then the same goes for your customers. Furthermore, you can also take pictures of jewelry by wearing it.
- You have to pick up a niche. Remember that without a niche, your online store will not work. Instead, this thing will help you to keep order within your store. Similar to clothing, people will shop specific staple pieces of jewelry.
- You should come up with some deals that your customers should not miss. The deals will include earrings, necklaces set, and other things. Remember that you need to include a price for the set and for the individual pair. For instance, if you are selling a set for $29, then you should write something good like buy one for $17. This separately will sound good for the customers.
- It will be best for you to have a look at well-developed drop shipping websites to get an idea about the deals.
How To Set Price For Your Online Artificial Jewelry?
One of the tough decisions in your jewelry business will be setting up the price. When starting out, a good rule of thumb is to start with four times your packaging and material cost.
The majority of the consignments and wholesale opportunities will take 40 to 60 percent of the retail cost. If you will be starting at a base price 4 times your material cost, then this will keep you working for free.
Going to charge your customers for shipping? If yes, then you have to add the cost of shipping before they checkout from their shopping cart.
Some other questions that you need to consider are as follow:
- What is the policy for refunds?
- Will you be accepting the returns?
- What if the jewelry break before shipping?
It is always better to have a back-up plan to ensure smooth working.
Best Place for Selling Jewelry Online
In search of the best place for selling your online artificial jewelry? Below are the places you need to consider:
Etsy: Etsy is one of the best platforms for art and craft retail world. This is one of the established eCommerce platforms for handcrafted goods. This platform has 54 million registered users with 20 million active buyers with 1.4 million sellers. Note that the $0.20 listing fee for each item. Don’t forget a 5% transaction fee.
eBay: This is another best and the largest retail website in the United States. This platform has its own guidelines for how to sell on the platform. Read it before selling.
Ruby Lane: This online platform is only dedicated to vintage collection, art, antiques, and jewelry. But note that this platform is smaller than the eBay and Etsy. There are a total of 1.1 million unique visitors per month.
Amazon Handmade: In 2015, Amazon launched Amazon Handmade that provides artisan a dedicated platform to sell. This platform charges 15% of the referral fee on each item sold.
Bonanza: This platform is one of the best alternatives for the Amazon and eBay. For a quick search, you will get 85000 items listed under the handcrafted jewelry. This platform will take a 3.5% commission on the final value of each set.
Finding Jewelry Suppliers
Now, the next question in your mind will be where to find the best jewelry supplier? Here is your answer:
- You can simply start with the Google search to find out the supplier in your area.
- You can check out the online marketplace. Most of the manufacturers are china based. You should visit websites like Alibaba and AliExpress to find the suppliers.
- Look out for the trade shows happening in your area. Visit the show to have a face to face conversation with suppliers.