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Why should you dropship jewelry products? Well, do you know that almost 29 million people buy jewelry products every day? Are you sure you don't want a slice of that pie? You've come to the right place if you want to learn how to dropship jewelry. We'll help you set up your dropship jewelry companies.
However, setting up drop ship jewelry companies isn't that easy like any other online business. One of the main reason dropshippers choose this niche is the high markups. Jewelry has been reported to have profit margins of 25 to 75 percent, which has a lot to do with the jewelry's perceived worth.
One of the major reasons jewelry is such a fantastic sector to get into is this. It's not like the electronics industry, where everyone knows how much a certain laptop model should sell for. A customer has no means of knowing what the optimal pricing for a necklace is. That's why it comes down to whether your customer likes it or not! & that's a big plus point.
In this blog post, I'll go over the advantages of selling fine jewelry online and take you through the steps of setting up an online jewelry business from zero! So, if you're a bit interested in this topic, keep reading.
Why Should You Dropship Jewelry Products?
Women are normally more prone to shop online than men, according to Google Trends. Also, the self-purchase behavior among women is fueling this rise. For example, women are now buying jewelry for themselves in increasingly large quantities.
Here are three explanations for this:
1. Less Shipping Charge
Jewelry is a wonderful product to dropship since it doesn't take up a lot of packing space and is lightweight. In addition, your shipping charges will be quite cheap due to the compact packing.
2. Sizing Capability
You don't need to try on every jewellery item to see whether it fits—this aids in the attraction of impulsive purchases.
3. Availability & Variety
The jewelry market has a broad range of goods. You may sell jewelry made of silver, gold, or rose gold. In addition, you have the option of selling men's, women's, or wedding jewelry. Many other product categories, such as fashion, accessories, wedding, and more, complement the jewelry speciality.
Now, if you're sold on dropshipping jewelry products, don't start right away. This guide below will introduce you to the step-by-step journey of setting up a jewelry company. So, keep reading.
How To Dropship Jewelry In 2021
Step 1: Make a list of the jewelry you want to sell.
Rings, necklaces, bracelets, and earrings are often the first items that spring to mind when thinking about jewelry. They aren't, however, the only choices! Chokers, collars, brooches, and anklets in various designs, as well as body jewelry for piercings, are in high demand.
There is also a rising demand for men's jewelry, as well as high-quality jewelry for children. In addition, you could consider Dropshipping jewelry from other nations and cultures, particularly if you can see a need in either the local or international market.
Categories Of Jewelry
There are basically 3 types of jewelry you can dropship –
- Fine jewellery is made of solid gold, sterling silver, platinum, and other precious metals. Sometimes these also contain diamonds, rubies, and sapphires. However, they may not be the best category to dropship because of higher prices.
- Fashion Jewelry – Fashion jewelry is sometimes referred to as costume jewelry. It is composed of less expensive metals like brass, copper, or aluminium. Plastic or synthetic stones are also often utilized as stones in fashion jewelry.
- Semi-Precious Jewelry – Semi-precious jewelry often contains gold filled or gold vermeil, as well as more inexpensive gemstones such as morganite or opals. Some enhanced stones — less expensive gems that have been treated with heat or chemicals to make them look clearer or change color – may be utilized.
What To Consider
Before deciding on which jewelry products to sell, be aware of these decisions:
- Avoid Fakes – Fake products are made of lower-quality materials. It may create copyright problems and reputation disaster.
- Plastic Use - Customers are becoming more conscious of plastic usage, whether it's in their jewelry or in the packaging they get.
- Quality – It's a good idea to test your goods before Dropshipping them. You need not buy it all. Try at least a few low-priced items to check quality.
- Use Multiple Suppliers – Using several suppliers can help you fill your shop more efficiently.
- Product Add-Ons - Because jewelry is often given as a present, offering extra gift options such as jewelry storage boxes and travel cases is a fantastic way to increase sales.
Step 2: Research what's popular.
DropShipping jewelry companies must keep up with the latest trends. Customers have many options, and they're always looking for the newest trends at the lowest price. You can use these tools to analyze what's trendy.
Google Trends can help you figure out how popular search phrases are over time and in various places. We won't go over all of that information here. It's simple to use. Just go to the website, and you'll know what to do!
Blogs & Social Media
Following influencers will provide you with early access to current trends that consumers will want to copy. Identify the influencers you'd like to see wearing your DropShipped jewelry and follow them on Instagram.
Fine Jewelers & Fashion Companies
Keeping an eye on big brands will allow you to capitalize on trends. Keep an eye on what new lines of luxury jewelry houses like Tiffany & Co., Cartier, and Bvlgari are releasing since they will certainly influence the designs of lower-cost jewelers.
Step 3: Locate your jewelry manufacturers/suppliers.
You may create a brand and achieve long-term success by selling jewelry online, but there are a few things to keep in mind before selecting your supplier.
Choose a jewelry dropshipper near your target market since this will enable you to send your goods quicker.
Time To Ship/Deliver
If you have an international jewelry dropship supplier, you may utilize a warehousing and fulfilment service to expedite delivery.
Minimum Order Quantity
If you're going to utilize a wholesale jewelry provider for dropshipping, be sure they accept orders for a lesser amount.
The majority of jewelry dropshippers operate on a subscription basis. Unfortunately, this implies that you'll have to pay a modest membership charge if you want to dropship their goods.
Check your supplier's reputation by looking at ratings and reviews online.
Developing a successful brand requires high-grade goods.
You should verify their refund policy before making your purchase.
Step 4: Use online markets to sell your jewelry.
Sell jewelry on online marketplaces as a first step. But, first, you'll need to think about the kind of goods you're offering and, of course, your target consumer profiles when selecting your markets.
However, we do not suggest depending only on a single marketplace for your DropShipping success. DropShipping on many platforms is a great strategy. Your company will not come to a stop if one of your sales platforms has an issue with your account - you may continue to sell on other marketplaces.
You can sell on –
Customers go to eBay for a variety of goods, not only jewelry. Starting a business on eBay is simple, and there are millions of users worldwide.
However, if you're testing new goods, eBay may not be the best option since it charges a listing fee per item and takes a commission on each item sold. It's also worth noting that eBay no longer allows as much customization of your shop as it formerly did. Unfortunately, that means that when consumers tell their friends or family where they bought their goods, they'll mention eBay rather than you.
Because you can sell virtually anything on Amazon (almost!), it stands to reason that there will be a lot of consumers looking for jewelry. However, there are many obstacles to overcome while DropShipping on Amazon, not the least of which is the massive amount of competition you'll face. But if you can tackle that somehow, you don't have to look back!
Wish, Groupon, and Fyndiq are such marketplaces. On such marketplaces, you're competing with sellers and suppliers who have razor-thin profit margins. So do your homework.
For dropship jewelry companies, the Tophatter marketplace may be profitable. Tophatter operates as a lightning-fast auction platform, giving consumers plenty of chances to make impulsive purchases.
Customers may be looking for something different than what is currently fashionable in their culture, so international marketplaces could be lucrative – especially because postage will be cheap.
Step 5: Open a shop.
You could consider investing part of your earnings in your own website after you've sold on several marketplaces. It's also logical since you won't have to wait for payments or pay to sell your goods.
Which online shop builder to use?
Unfortunately, we can't provide a definite answer since each company has its unique set of requirements. In addition, business owners have varying degrees of technical knowledge and expertise. We can, however, guide you on the correct path!
Many merchants use Magento and WooCommerce to create their websites since they provide so many customization possibilities. Both platforms have thriving development communities. There are literally hundreds of extensions, plugins, and add-ons available for free or with very little money.
Another very popular method to build an eCommerce website is using Shopify. If you don't have many (or any!) technical abilities but don't have the money to hire a web developer, Shopify is a great alternative. It was designed especially to put up new eCommerce websites simple, and there are many customization possibilities available.
If you want to know more about e-commerce site builder, you can check our Best E-Commerce Website Builder Review 2021 to find what's best for you.
Step 6: Carefully consider your pricing approach.
Finding the appropriate pricing methods may be difficult, particularly if you're DropShipping and need to keep your profit margins intact. Customers are constantly looking for the greatest deal, and they compare prices before committing to a purchase.
We'll briefly look at some of the pricing methods you may use in your company below. Of course, not all of them will be appropriate for your company, so think about each one carefully. Yes, it's quite OK if you choose not to utilize any of them at all; we're just providing you with choices.
'Free + shipping'
We see this kind of offer all the time, and it's quite appealing to consumers - after all, who doesn’t want something for anything? However, take caution while using this technique. Make the delivery cost obvious on the listing page, and don't make it excessively costly. Customers will notice if you claim your item is free yet the postage is £10 for a little item like a ring, and they will get irritated.
This approach may be effective when done correctly, particularly if you're selling other low-cost fashion jewelry.
Tell your consumers if you've got a great deal from your suppliers and can offer goods for less than the 'Recommended Retail Price'. By include the RRP in your listings, you're informing consumers about how good of a deal they're getting and how much it'll cost them at another store.
This approach may be used for listings on both marketplaces and your own website, but you'll need to double-check your margins when Dropshipping.
You probably already know what a bundle is. It's basically a primary product offered alongside other products at a discounted price. In the instance of jewelry, you could offer a deal that includes a necklace, bracelet, and ring, as well as a 'free' roll case.
Of course, you'll still make a profit after factoring in the cost of all these things - but your client believes they're getting a great deal.
Dynamic pricing is when you adjust your rates based on demand. For example, you may raise pricing when one of the big design houses sends models down the catwalk wearing a certain piece. You can also price according to the season. When establishing pricing in this manner, however, keep your foreign consumers in mind.
Step 7: Market your goods.
Just because you've listed your goods and have excellent pricing doesn't guarantee you'll get your desired sales. You've to advertise your products to increase sales.
Marketing On Social Media
Your Dropshipping company will be built around your social media platforms. So make an Instagram Story video and a YouTube channel video, and experiment with flat lay pictures as well as more conventional views of your jewelry being modelled.
Get Great Reviews
Once you've started selling, you'll want to gather as much feedback as possible. Reviews and feedbacks will help you to decide which products to sell next. It'll also let your target customer know that you're selling good things. Put your company on review services like Trustpilot and Feefo.
Step 8: Keep the customer's attention.
It's wonderful to start selling jewelry, but what happens once you've established a social media following and are making good sales? It's more difficult to get new business than to encourage repeat business, so do your best to keep current clients interested.
Frequently Change Your Goods
We're not suggesting you cease selling your best-selling products. But rotating your product line regularly is a smart approach to keep customers interested. In addition, if you're DropShipping using a platform and have access to various suppliers, you can quickly add and delete items without having to worry about dead stock.
Curate And Organize Collections
While we're on the subject of seasonal goods, creating collections of what you anticipate to sell well in the future months may help you boost sales. Of course, you can do this on your website. Still, you could also do it on Pinterest and Instagram and promote these collections throughout your social media channels to boost traffic and sales. The options are limitless here.
Expand Your Horizons
Why stop there? Customers searching for fashion jewelry for a certain event – say, a lady attending a summer wedding – are often looking for other items as well. Adding cover-ups, like shawls or pashminas, or headgear, such as fascinators and hats, as well as hair accessories and silk corsages, may help you expand your range and increase sales during wedding season.
Dropshipping jewelry is an awesome business idea only if you do it well. Don't hurry on anything. Follow all of these steps thoroughly. Don't take any step before doing proper research!
We hope you found this article to be interesting and useful! Dropshipping jewelry is an intriguing concept since it allows you to be flexible with your products and provide the greatest possible experience for your consumers. We wish you all the best in your internet business endeavours!
Don't forget, you can get a fully automated USA based dropship website, built for you, in whatever niche you want, in 72 hours or less. Go to https://learn.dropshipusa.io/webclass to register for our free webinar that will teach you our secret dropship model, and how you can get it built for you in only 3 days!