Looking at Wholesale Sources to Increase Your Custom Jewelry Sales
The wholesale craft supplies market is often considered but avoided by custom jewelry makers seeking good bargains to add to their display at selling shows. Many find it be akin to opening Pandora’s Box, unleashing an unwanted monster that takes more time to keep under control than what it is actually worth.
For handmade jewelry businesses, tapping the time and experience of retailers that have come out of the wholesale craft supplies market with winning results is surely the best plan of action to avoid it turning into an experience that can set your business back.
Covered in her book “The Ultimate Guide to Your Profitable Jewelry Booth,” jewelry artist and author Rena Klingenberg guides new and current retailers in a carefully planned path to success in buying and selling wholesale items. Also covered is surrounding topics like consignment and competitive pricing; her books are comprehensive guide to many looking for options, strategies, and real world results to make selling handmade jewelry publically and privately a successful venture.
Closeouts, resells, wholesales, and auctions are some of the terms that cause many jewelry sellers to get bewildered and turned off from considering these types of options. The differences are in the details of each option and are explained thoroughly in several published materials geared to help navigate custom jewelry makers to the options that best suits them. All of them, for the most part, have one thing in common; cheaper prices.
Easily overlooked drawbacks of wholesale craft supplies can cause many to start buying too fast. Limited renewable supplies of certain items, and actual relevance of commonly discounted items, are two big factors that get custom jewelry makers in sticky situations. So before you start selling, there are many factors to go over.
The attractions of discounted pricing is big lure for the wholesale market and is recommended to only be a secondary factor on a decision to buy or not. Chiefly make buying decisions on wholesale goods if you have a definite demand for them. Outdated and non-relevant items frequent the wholesale craft and jewelry market, and in most cases are difficult to resell.
Unless you notice and document certain trends developing that have a demand for certain forgotten items you find, it’s best to stick with smart buys that have an existing demand rather than buying hard to sell items because they’re cheap.
Limited supply is a factor that flexes the wholesale craft supplies venue, but in many cases it’s predictable. If you’re looking at getting into selling jewelry at craft shows, many pros will tell you to stick with your customers. Buying wholesale can allow you to make more profit while keeping your prices competitively low, but wholesale items are wholesale for a reason. The company making the item may have gone out of business or discontinued the item from their inventory.
If you start providing customers with items that aren’t easily available through your standard vendor, your once great offering could end up dissatisfying customers. Be sure to absorb materials and ask questions to ensure that getting into and staying in the handmade jewelry business is easier the first time around.