It’s fair to say that the wholesale jewelry cost matters to retailers. Although the silver jewelry wholesale prices are particularly low, retailers have quite a few things to consider.
- Having a half-empty retail store is not good for business. Consumers are attracted by full stores and buy easier when they have options. They often buy more items than they actually need – that depends on the clerk providing the retail customer service too.
- In the same context, having only a few items of this and a few items of that doesn’t sell. If you decide to sell silver bracelets and rings, for example, you need to have plenty of items to offer options.
- The silver jewelry price tag at the retail store must be high enough so that the consumers won’t consider the items fake but low enough to attract their eye. But whether the markup will be low or huge depends on the store’s operation costs. Since these costs are often high but the retailers want to be competitive, the lower the jewelry wholesale cost, the better.
- Speaking of competition, the retailers have to keep a balance. On one hand, they need to gain – otherwise, what’s the point of being in this business. Thus, the larger the profit margin the better. On the other hand, they cannot sell high in an age with multiple online and physical retail stores – or they won’t sell at all. Once again, the lower the retailers buy their wholesale silver jewelry the more they gain.
It’s clear that when retailers buy wholesale jewelry at a low cost, they leave more room for higher potential profit. And there’s more to support this argument.
For example, if you are a retailer, you need to stick with the trends. If oxidized jewelry is in fashion, you need to have oxidized jewelry in your store. How about seasonal jewelry? Come Christmas or Easter, you need to offer choices for holiday gifts to your customers. How about Mother’s Day? Or Valentine’s Day? People tend to buy jewelry on such days. Come summer, it’s good to have ankle bracelets.
And then, it depends on your customers and the store’s location. Buying jewelry wholesale to satisfy all customers entering your store is an art. You need to consider your usual customer – gender, age, and preferences. You also need to stick with the store’s profile. If this is a kid’s clothing store in which you also sell children’s silver earrings, bracelets, and rings, you may not want men’s jewelry too. It’s like in stores where they sell high-end gold jewelry. It’s pointless selling gold-plated silver jewelry too because the style, cost, and target group are all different.
Small wholesale jewelry orders are not the way to go
Taking all the above into consideration is easy to assume that making a small wholesale jewelry order is not in your best interest – as a retailer. Offering one choice is like offering no choice to your customers. To be fair, small orders do not include only one item but limited choices and a limited number of items. That’s often good when this is not a retail jewelry store and you simply want to have some themed jewelry along with clothes for teenagers. It’s often a wise move when you buy from a wholesale jewelry supplier for the first time. Once you establish that the goods of a specific silver jewelry supplier sell and are also good in terms of quality and that everything worked as expected in regard to your order – payment, shipment, delivery, package, et cetera, buying bulk is in your best interests.
Go for a bulk jewelry wholesale order to gain more
Buying wholesale jewelry in bulk means buying more, paying less, having a good stock in the store, and offering plenty of options to the customers. In other words, it’s all good. With a bulk order, you can get a considerable volume discount and so the money you save adds up to your profit margin while at the same time, you have more chances of selling more due to the variety of items you keep in the store. Isn’t this a win-win?