Wholesale Fashion Jewellery – Low Investment, High Profit
Despite the recent tightening measures to tackle the new Covid-19 variant, the British economy seems to be slowly but surely getting back on its feet. Many entrepreneurs who were working on building a new business have left their plans on stand-by, and many others have abandoned them. It’s now time to get back to working on your self-employment dream and if you’re wondering about opening up a fashion business then we have a suggestion for you: fashion jewellery. We would like to invite you to visit our selection of wholesale jewellery suppliers.
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There are many reasons why wholesale accessories, jewellery in particular, are a great business idea, but let’s start with the most obvious one. Compared to other fashion sections, jewellery does not require a big investment and you will be able to collect high profits from it.
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Except for rings, accessories are one-sized items and this is probably their great advantage. In wholesale clothing and shoes, managers need to think ahead which sizes to order. This is a somewhat dangerous “guessing game” that often ends up in having customers who want to purchase the item but is not available in their size and less wanted sizes accumulating through the next season when the item will be less relevant. With necklaces, bracelets and earrings, this will not be a problem and jewellery can almost be considered evergreen material.
It will also be easier to upsell the items which didn’t sell so well with promotions of buy one, get one free or other types of discount – you will get rid of the items from previous collections while still making profit.
Even if you’re business is in wholesale clothing, jewellery pieces are welcome. After purchasing clothes, people feel like getting new things to wear and looking at jewellery will be tempting. Managers need to make an intelligent decision on where to display their jewellery to take advantage of this factor.
There are two classic options: if you have a good amount of items, place an engaging jewellery display in the middle of the boutique; if you don’t have enough space for it, display jewellery near the tills where people, one way or another, will have to see it.
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Knowing they can ask for a refund if they change their mind is comforting, although this does not apply to pierced jewellery, for hygiene reasons. Make sure other items that can be refunded and returned are available too.
The last advantage of jewellery boutiques is that you don’t need a big store. Smaller space, lower rent, more profit. Jewellery boutiques do not require fitting rooms. Mirrors are all customers need to try the items on and they also contribute to the illusion that the store is bigger than it actually is.
Online platforms have made it easier than ever to open and manage a business. Whether you are opening your fashion business now or you already manage your fashion boutique, jewellery is a must-have accessory. Explore wholesale jewellery at TradeGala.
Written by Catarina Joele