Things a fashion jewelry wholesaler must tell to new clients:

While dealing for the first time with online jewelry sellers or retailers, there are some points that you should clarify at the beginning of the deal.  Sometimes a misunderstanding between you and your client not only makes the deal sour, but it also decreases your credibility and reliability in the market. A good first deal with your customer will help you to gain trust and thus turn him into a loyal customer.

Points to mention by a fashion jewelry wholesaler in their agreement:

  • Minimum Order Quantity: Minimum order quantity is the quantity of jewelry to be purchased whether in terms of numbers or monetary value. Every fashion jewelry wholesaler has some minimum order quantity. Your regular customers are aware of that amount, but first-time buyers may not have an idea about this condition. So, you should put it in your agreement. If a customer has negotiated to a value of the order, then you should mention that value in agreement.

fashion jewelry wholesaler

  • Samples and its Pricing: Many retailers ask for the samples of your products before buying them. Although samples are only one or two quantity of jewelry item, it has a cost. So, you should tell this in the beginning whether you will charge for those samples or those will be free. Regarding prices, you can mention that at what price you will provide the samples. You can provide them at discounted rates also.
  • Price of Jewelry items: You should clearly tell the per unit price of the item that is to be delivered. Also, the time of the delivery should also be mentioned in the agreement. For example, the number of business days in which order is to be delivered after the date of order is placed. Time and price are important to mention when you are dealing for the first time.
  • Payment Terms and Conditions: You should mention all your terms and condition of payment like percentage of the amount you want in advance. And the number of days in which you want full payment.

All these points mentioned in the agreement will help every imitation jewelry wholesaler to remove any misunderstandings and doubts.

How fashion jewelry wholesalers can increase the number of clients

As a fashion jewelry wholesaler must have a marketing strategy that works well for the business and helps to win new clients. It’s important to grab the attention of your prospects in order to take order from them. There are some kinds of marketing activities that you must include in your strategy. These activities will help you to get more new clients.

Marketing activities for a fashion jewelry wholesaler to win new customer:

  • Wholesale Directories: Get yourself registered on business directories on the internet. These directories are a marketplace where retailers and online jewelry sellers search for vendors. It will increase the visibility of your business and there are chances that your customer will contact you while searching for wholesale jewelry.
  • Quality and Reliability: Always focus on increasing the reliability of your product in eyes of your customer. Giving them quality products and exactly delivering the same that you committed with them will help you to do it. Always ask for high ratings and reviews from customers whose trust you have won.

fashion jewelry wholesaler

  • Offering Samples: When you are approaching a retailer for the first time, giving samples of jewelry items is a great idea! You should do it without asking from them. It’s difficult to offer a sample for every customer, but all customers who are giving you a bulk order with a range of jewelry can be considered worthy for this. This will give them the confidence to close the deal with you.
  • Timely Delivery: Every retailer wants timely delivery of their order. So, focus on smoothing the operations of your logistics so that you can deliver the order on time. You have to ensure to deliver fashion jewelry to the right place and at the right time.

With these tactics, you will be able to win the trust of the retailers. If an imitation jewelry wholesaler has won the trust of a retailer or online jewelry seller, they remain loyal and give consistent orders.

Tips to expand your fashion jewelry wholesale business

Every wholesaler dealing in fashion jewelry has the vision to expand the business. A clear goal with proper planning and a clear idea of implementation help wholesalers to expand and achieve their business goals. Better and fast customer services and delivering quality material to retailers not only make them loyal but it also helps to increase sales of more jewelry item.

Ways in which A fashion jewelry wholesaler can expand business:

Expand Jewelry Items: The first way to expand your wholesale business is to increase the number of jewelry items and types in which you deal. For example, you are the wholesaler of earrings; add other jewelry items such as necklaces, rings, bracelets etc. to your product list. It will increase your sales. It can come through by observing the demands of your current customers and how you can meet them. Considering what your customers are looking for, will help you to develop your business in the right direction.

 

fashion jewelry wholesaler

Focus on your Marketing Strategies: Marketing is the backbone of the success of every business as it helps in increasing your customer base. It’s better to take care of it in the right way. As of now, there are many types of marketing strategies for wholesale business, but one should start with the best one that helps you in growing your business. Doing a strong competitive analysis for the wholesalers that have an impressive list of clients will make your work easy. If your current marketing strategies are not giving you the desired results, then you should change them immediately.

Add New Locations: One way to expand your business and your customer base is to open your business in new locations. Do a market research to know about the locations where your products have more demand. Make a list of it and start exploring the new locations where you want to start your business. Start increasing your customer base in these locations and increase your business.

All above-mentioned points are really important for an Imitation jewelry wholesaler who is looking to expand their business.

Signs of a bad deal with fashion jewelry wholesaler

In the world of fashion jewelry, many new wholesalers enter the market and many old wholesalers exit.  Many times fashion jewelry retailers or online jewelry store go through a bad deal, which not only wastes their money but also their precious time. But there are some points or signs by which you can spot that deal can be wrong.

Points to notice while dealing with a fashion jewelry wholesaler:

  • Mismatch of Details: If the information provided by your vendor does not match with it, then it is not a sign of a good deal. Always trust a vendor who has a website and an updated address on it. There are many websites now, on whom you can cross-check the information provided by the vendor, such as company name, directors, date of registration, PAN number etc. If any of the important detail is not matching with the information provided by your vendor, then you should be careful of such deals.

fashion jewelry wholesaler

  • Not Providing samples: If a vendor refuses to give you a sample before the deal, and then he is not a reliable one. While dealing with the vendor for the first time you must ask for the sample so that after the delivery you can compare quality and material of the items promised.
  • Asking for full payment: If you are dealing with a new imitation jewelry wholesaler, and he is asking for full payment in advance then it is a sign of danger. While dealing for the first time always avoid paying completely in advance. You can pay a part of the payment in advances such as a quarter or half of the total invoice, and rest you must pay when the jewelry items are delivered at your doorsteps.  Also, avoid dealing with a distant wholesaler till you do not trust them completely, try to make your dealers which are nearby to your location.

What makes you a good fashion jewelry wholesaler for your clients?

Every jewelry retailer deals with many suppliers and vendors every day. But there are some points or traits which differentiate good fashion jewelry wholesalers with you. These characteristics or qualities are required to win a customer. Once a retailer is satisfied with his supplier, he starts to give more business and orders to the supplier.

Characteristics of a good fashion jewelry wholesaler:

  • Prices: A lot of retailers and online jewelry sellers focus on this point. This is the main characteristic of a good wholesaler. Good prices also help to win more orders from your customer as they will also offer their customers better prices which will eventually result in the generation of more sales and revenue. In case they keep their prices same to end clients, also then you are their favorite supplier as they are enjoying higher profit margins.

fashion jewelry wholesaler

  • Reliability and Authenticity: After prices, reliability is the most important trait to be looked in a wholesaler. A reliable wholesaler will ship the same products in the same quantity as committed while receiving the order. This habit maintains the trust of retailers with the suppliers. Size of the wholesaler does not matter.
  • Years in Business: Stability is also one of the major trait retailers look in an imitation jewelry wholesaler. Reliability also comes by the time for which you have been in the market. Generally, retailers do not like to deal with new wholesalers or with wholesalers who change their business from time to time. A long time in the market also helps to build your reputation in eyes of retailers. That’s why it’s difficult for new players to win more customers like retailers and online jewelry sellers.
  • Near-By Location: Location of wholesaler somewhere also matters as a point to give orders. A wholesaler who is in near-by location will ship or deliver the jewelry items early as the shipping process takes less time. Distant wholesalers take more time in delivery as shipment takes time because of more distance to be covered. It also increases cost as in most cases, the retailer has to pay the shipment cost.

How fashion jewelry wholesalers can know their target market

Finding right customers for jewelry wholesalers is a very complicated task. While starting your wholesale business the very first step is to decide your target customer and target market. There are many criteria on which this decision is made. Working on every criterion you will have an idea to whom you are going to target and then you can craft right strategies of sales and marketing.

Steps for a fashion jewelry wholesaler to know their market:

  • Market Size: The very first step is to identify your market. You can determine it by geographical location and other factors. For example, you want to target only metro cities or Tier 2,3 cities.

fashion jewelry wholesaler

  • Your prospects: Next step for a fashion jewelry wholesaler is to determine who can be your customer. These can be stores, online sellers or shops. These are the people who will be interested in your jewelry products.
  • Competitive Research: This is the most important factor of this entire process. It is must for every imitation jewelry wholesaler to know about their competitors. Know everything about them like who are their customers, what are their prices, which of their jewelry items are sold mostly in the market and the size of the market to which they cater.
  • Your capacity: It’s really important to figure out what is your capacity in terms of meeting the demands of customers. Means can you fulfill the order of 100 clients or thousand clients. Because at the beginning of your business if you fail to complete an order, then it becomes difficult to get more referral business. Based on your capacity to serve, design your marketing budget. Include every marketing activity through which you want to target your customer. Also, evaluate what percent of the market size you will cover in your marketing budget.All points above mentioned are important to consider when you want to know your target customer.

How fashion jewelry wholesalers can set their prices

In the wholesale business of jewelry, prices of items is the biggest factor for the sales of your jewelry collection. Many times wholesalers set wrong prices of their jewelry item, either too high or too low. Charging high prices from retailers will cost you to lose customers whereas charging low prices from your customer will result in monetary loses. So, it’s quite important to keep the right prices of your jewelry items for your retailer customers. Setting the right price for your jewelry items is a very difficult task which requires many points to consider while deciding prices.

Strategy for Fashion Jewelry Wholesaler to price their jewelry:

  • Calculate the overall cost: The very first step for determining the prices is to calculate your overall cost for an item. This cost includes manufacturing cost, labor cost, holding cost and marketing cost. For holding cost you can calculate it by your electricity bill and rent. For example, your electricity expense is of 1000 unit per month and you have a total 2000 jewelry items so your electricity cost will be half unit per item. Same applies for calculating rent cost, you can divide the rent amount with the number of jewelry items to calculate per item cost of rent. In this way, the total cost of a jewelry item will be calculated.

fashion jewelry wholesaler

 

  • Research on the prices of competitors: It is the best strategy to know about the market price of jewelry items you want to sell. You can ask from different retailers and then calculate an average price on basis of overall price. This will give you an idea of choosing the right price for your imitation jewelry items.
  • Decide your profit margin: As you have calculated the cost and you also have an idea of the market price, now its time to decide the profit margin you want to have on jewelry. It can be a fixed amount of money or on basis of percentage. A good strategy for an imitation jewelry wholesaler is to keep prices slightly more than the profit you want to enjoy so that in case of negotiation you will have a minimum profit you want to earn on jewelry.

How fashion jewelry wholesalers can evaluate their quality customers

Fashion jewelry wholesaler has every kind of customers, good for their business and bad for their business. Many times they face loses in business and many times they enjoy good profits. Although there is not any definition about a good customer, still we can figure it out by the behavior of the customer. As every wholesaler knows about his existing customers, but it is quite tricky to find out for the new customers. While dealing with new customers the trust factor is somewhere not present.

Tips for a fashion jewelry wholesaler to evaluate new customers:

  • Check their creditworthiness: This is the most important point to check out while you are dealing with new customers like online jewelry sellers. There are many jewelry stores who buy their stock on credit. To check their creditworthiness, you can take reference of their current vendors. It’s good to ask from their vendors about their payment history, like time to clear invoices, order value of a month etc. It’s also a good idea for wholesalers to charge a percent of the money in advance when you are dealing with a retailer for the first time.

fashion jewelry wholesaler

  • Size of their business: Although good wholesalers deal with every size of business. But checking the potential of the retailer should not be missed out. As its good to do business with retailers that have high sales volume, which helps you to achieve organizational goals. These kinds of customers generally place the high-value orders which have an impressive quantity of volume.
  • Initial order value: Look for the customers whose initial order value should match with your minimum order value. Also, confirm that retailer also deals in the type of jewelry which you have. Many times retailers place an order of items in which you do not deal. So, confirm once that retailer also sells same jewelry which is in your stock.
    All these points should be considered by an imitation jewelry wholesaler while dealing with new customers.

How to find a legitimate fashion jewelry wholesaler

It’s not an easy job to find a legitimate fashion jewelry wholesaler. Dealing with fake vendors not only waste your money but also time which eventually decreases your efficiency. Dealing with a good vendor makes your business efficient and also result in customer satisfaction as you get all your items at your store on time. There is a list of checkpoints to find a reliable and legitimate vendor for your fashion jewelry business.

Characteristics of a legitimate fashion jewelry wholesaler are discussed below:

  • Provide data on designs and variety: A reliable wholesaler will provide you pictures of the jewelry items in a wide variety of designs and colors. In this way, you will be updated about the new products without asking for it. One more important point about a reliable wholesaler is, they do not open prices of their product publically. They reveal prices to their customers only.fashion-jewelry-wholesaler
  • Legal document: To check the authenticity of the vendor, you can ask for the copies of legal documents such as PAN card, GST identification number. These documents differentiate a fake dealer and a legitimate dealer. Also, the fake dealers ask money to start a business with them such as monthly charge or pre-order charges. So be aware of such dealers. Legitimate dealers only charge money when they sell their jewelry items to you. A good and responsive team of customer service is always there with them.
  • Proper knowledge about their market and products: This is one of the best sign of a reliable imitation jewelry wholesaler. They know their products in deep such as the type of material used in making, prices, difference between two products and much more. Their customers are satisfied with the questions with their answers. Not only they provide information about the jewelry but also tell them the changing trends in the industry which helps you to survive in the market.
    If you follow these points while searching a vendor for your fashion jewelry business, then odds are high that you will get a good vendor for your business.

Questions to ask while deciding fashion jewelry wholesaler for your business

Every jewelry retailer, whether a shop owner or an online jewelry seller likes to deal with a good wholesaler. Dealing with cheaters or bad wholesalers not only waste your time but it also brings a risk for your customers and your brand name. As the fashion jewelry industry is extremely competitive and you can not take a risk with your quality and services. They’re dealing with a good wholesaler is the must for the growth of your business.

What to look in a fashion jewelry wholesaler:

  • Do they deal in the same type of jewelry: As fashion jewelry comes in a wide variety of designs and colors. It is a very important point to consider as every vendor does not deal in every type of jewelry. So, make sure the vendor you choose deals in the type of jewelry you sell. For example, if you deal in earrings and necklace, so choose wholesalers which have customers of these jewelry items.

fashion jewelry wholesaler

  • Ask about the minimum order: Minimum order volume is the quantity of the order, maybe in monetary terms or in the physical quantity that you need to buy in a single order. So, its better to know their minimum order volume prior to place an order so that you can decide whether you can reach that limit. Almost every fashion jewelry wholesaler has a minimum order quantity condition. The delivery time of the jewelry is also a concern to be taken care of.
  • Payment and shipping terms: Every imitation jewelry wholesaler has some payment terms and conditions. The condition is basically the percentage of the amount they take in advance and the time period they offer to pay the full amount to their customers. Choose one with the conditions with which you are comfortable. Shipping cost is the amount you pay to wholesalers for the transportation of products. Some offers free or minimum shipping cost and some wholesalers have a fixed charge of delivery.

Meeting all these conditions will help you to go with a suitable vendor for your business.