Wholesale is a great strategy to increase the reach of your current retail-based pearl jewelry business. Even if you are a beginner, wholesale strategy can offer your jewelry business a jump start.
Why is wholesale a great way to develop your pearl jewelry line?
You get an extended customer market potential with respect to geographical locations, customer purchasing power and it will also maintain a smooth cash flow. Moreover, you get great results instead of waiting for consumers to discover you online. However, you will need to consider several aspects when you switch from retail strategy means selling to customers directly to wholesale strategy means selling to stores directly. You can use this website to display your pearl bracelet collection.
- Proper wholesale pricing
Wholesale price must include the cost of material, labor, time, and profit. The stores you sell will add to your wholesale price and then sell. Be consistent in your prices for the stores or suppliers that distribute your collection.
- Cohesive product line
Wholesale strategy means, you will be selling in bulk. Stores will want to see a pearl jewelry product line that holds a consistent vision and voice. To create a more cohesive line, you will have to remove some designs and increase others, so as to offer more choices.
- Wholesale policies
In wholesale, you are selling multiple pieces in a single order. To make this work, set minimum order in amount like $499 per piece or minimum order in terms of pieces like a dozen pieces or minimums for certain style. Make sure that minimum order setting is eye-caching and cohesive. Low minimum encourages suppliers to buy your pearl jewelry again and again.
- Share wholesale line with suppliers
Create a virtual line sheet featuring images, description and wholesale pricing. Send it in a PDF format to stores via email. If you possess a website then wholesale ordering can be enabled on it.
- Identify your target customer
First ask yourself, where your ideal consumers reside? Where do they go shopping? Research stores on the internet for art galleries or boutiques and create a potential stores list then start marketing. Contact stores directly sending emails of your brief collection line or if you have prioritized some stores then mail them a catalog or line sheet.
- Never fear rejections
Never fear rejection because buyers may reject for several reasons like shelf space or budget. You can follow up after a few months. Always stay in touch with stores that placed wholesale orders.
Reorders makes wholesale pearl jewelry business profitable for years to come!