The jewelry trade is a global industry, and designers are creating new pieces that push the boundaries of innovation. From reworking vintage pieces to selling jewelry online, the future of the industry looks bright. However, there are many things to consider before jumping in. To succeed in the jewelry trade, it’s important to keep abreast of industry trends and to develop an original style that positions your brand as a leader.
Depending on your product line, you can opt to sell your jewelry in one of the following ways:
Retailers:
While some retailers specialize in selling specific types of jewelry, others focus on the entire retail experience. Whether they offer an extensive catalog of fine jewelry or just an array of rings, bracelets, and necklaces, a good jewelry store is committed to quality craftsmanship and customer satisfaction. Retailers that prioritize service and support can build trust with customers and drive loyalty.
Wholesale:
Wholesale jewelry is a profitable business opportunity for established jewelry brands that want to reach new markets. This strategy allows you to scale your production and increase revenue by selling pieces at a lower cost. However, it’s important to find reputable and reliable suppliers. If you’re unsure where to start, reach out to other established jewelry makers to see what brands they use. You can also attend jewelry trade shows to learn about new supplies and technology.
Reselling:
The resale of jewelry is an efficient way for consumers to upgrade their collection without investing in another full-price piece. For a jeweler to profit from this practice, they must invest in expert appraisals and comprehensive customer support. This includes answering questions, guiding customers through the process of upgrading their pieces, and providing transparent, trustworthy advice. Providing this level of support will ensure that your customers feel confident in the integrity and value of their resale purchases.
Boutique:
Many artisanal jewelry makers prefer to operate a small boutique rather than a large chain store. This way, they can provide personalized services and create a more intimate customer experience. Additionally, boutiques can focus on building brand awareness through social media and in-person events.
Fashion editors:
If you have a large online audience, partnering with fashion editorials to feature your jewelry could be an effective marketing strategy. This technique allows you to reach a large and diverse audience and gain credibility as a designer. In addition to promoting your products, you can also earn commissions on any sales that occur through the links on your site or blog.
While competition in the jewelry trade is high, it’s not a deterrent for the right designer. In fact, many successful jewelry makers started their careers by winning recognition through viral exposure. For example, Licia Young’s toilet paper-themed earrings gained attention from a variety of media outlets, including Britney Spears, and ultimately helped her establish a thriving jewelry business. But, the best way to stand out is by creating unique offerings and experiences that resonate with your audience.
