How to Set Up a Fine Jewelry eCommerce Store
Every day, 29 million people purchase jewelry online. Jewelry has been known to yield profit margins of around 25 to 75%, mainly based on the perceived value of the jewelry. This is one of the main reasons fine jewelry is such a great niche to get into and makes it unlike the electronic goods segment where everyone knows exactly what a certain model of equipment is priced at and should be selling for. Any business with art involved can be worth what the maker decides it to be, added to the cost of the raw material used, and of course, the perceived value of potential buyers. Here is great success story to inspire you: Multimillion-Dollar Jewelry Business That Continues To Set Trends In 2021.
Have you thought about opening your own fine jewelry store?
These days it is easier than ever with the internet. You can now open your own online fine jewelry store – even if you don’t own a piece of fine jewelry! As a matter of fact, you can own a store online and never stock a single piece of fine jewelry. In the age of marketing on the internet, you can now have a store up and running ready to do business in under a day. You could literally start in the morning and be collecting sales by the afternoon; all you have to do is market your new store so people know how to find you.
The first thing you will want to do will be to find jewelry wholesalers to get your jewelry from for resale. To be able to put your business on autopilot without a lot of upfront expenses as mentioned above, you should seek a wholesale supplier that is willing to drop ship straight to your clients. This is truly a beautiful thing – you never have to deal with the customers or stock merchandise. All you do is collect the money and the wholesaler does the rest! Simply get your website up, market it, get visitors coming to your site, and when they order it’s automatically forwarded to the supplier who then fulfills the orders for you. How great is that?
When beginning, many wholesalers will require you to pay for the merchandise upfront or pay a deposit to start doing business with them. Paying upfront really isn’t a big deal since you will receive payment from the customer when they place the order, send the supplier the wholesale amount for the item, and you keep the difference.
With most suppliers, you are allowed to set your own prices and therefore can charge whatever the market will bear, but some will make you stay within certain parameters, especially if you are marketing a line that bears their name and are mentioning the brand in your marketing and advertising.
If you are brand new to the internet and unfamiliar with how to set up a website, there are many suppliers who offer turnkey packages where you only need to input some personal information and can be up and running immediately. Usually these companies will charge you for the service as either a one-time or monthly fee. However, the downside about these kinds of sites is that they usually all look alike, and you really want your site to stand out.
A good option to consider is to set up a store through Shopify or WordPress if want your store to be even more personalized. They do charge for the service but allow far more customization that will make your store unique and original. This is one of the easiest and quickest ways to get a business online today.
When you’re selling jewelry and accessories online, you are selling details and final touches. That means that the detail and final touches of your site are going to matter more, too. After all, what someone sees increases their trust of any site they are on, and trust is what wins you sales. Besides that, you need a good supplier to have your back.
On the supplier side is where we can help you – for over 20 years, Lao Pride Inc has been designing and sourcing the most suitable materials while using a combination of advanced technology and skilled artisans to craft jewelry for our global customers. We know you’ll want to be the go-to place for fine jewelry, but it’s not always easy finding a reliable manufacturer. In addition, you often will need to contact another company for designing the jewelry. At Lao Pride Inc, we do we do everything from design to production, providing you with convenience and competitive pricing.
Our leading technology, innovation, attention to detail, and mastery of jewelry-making enable us to create the finest diamond jewelry for customers worldwide with on-time delivery and responsible after-sales service. Contact us today to find out how we can make it easy for you to “wow” your customers.