In 2018, the jewelry industry in the United States surpassed $ 279 billion and experts expect it to reach 480 billion dollars by 2025. When you think of the jewelry industry, you probably think of big companies, shady sellers, and outrageously expensive pieces. For many jewelry stores and online sites that you order from, this rings true. However, a few innovative jewelry sellers are disrupting the industry, allowing more people to access premium diamonds and jewelry.
One of the biggest disruptors to conventional jewelry is the wholesale jewelers on the scene. If you are looking to purchase an expensive piece of jewelry for yourself or a loved one, check your wholesale options first. You can just find something you like for a much lower price than a traditional jewelry store.
How wholesale works
When you buy something from a retailer, that retailer probably didn’t make the product. They probably bought it wholesale, branded it, and sold it to you for a profit. For the most part, this formula works very well. In a grocery store, you don’t need to buy a 50-pound bag of rice to prepare a few servings. However, this concept applied to more expensive items can drive the mark-up much higher than necessary.
This is especially true for jewelry stores. When you buy a diamond ring from a retailer, you don’t just pay for the diamond, you also pay the seller’s commission, any invoices the store has to pay, and all shipping and handling charges that delivered the ring. to the store. If you want to avoid the middleman and avoid the additional costs, buying directly from a wholesale jeweler may be the best option.
As for the jewelry industry, experts are seeing a huge increase in online sales and purchases straight from the source. Traditionally, people consider physical stores to be more reliable and of better quality, mainly because they can smell and try the product in the store. For many, this is an attractive tradeoff for the higher cost. However, with improved technology, supply chain and marketing, wholesalers are expected to achieve around 10-15% market share this year alone. As a consumer, this could mean lower prices and better quality as competition intensifies in the jewelry industry.
Make wholesale work for you
What does this mean to you? Basically, if you want to buy a particular piece of jewelry and feel like walking into a jewelry store is too stressful or too much pressure, buying direct will be a good step to consider. In general, wholesalers now have websites that they sell directly to, so a simple search for a wholesale jewelry merchandiser will provide you with a comparison of the best prices online. In addition, some wholesalers have opened the doors of their warehouses or shop windows to offer their merchandise directly to the consumer.
Of course, if you decide to go online with wholesale, you need to mitigate the risk of buying jewelry without trying it on or seeing it in person. You can usually find a lot of reviews of online jewelers and wholesale jewelers on gathering sites like Sitejabber or Trustpilot. Look for comparison photos between the promised product and the delivered product.
Additionally, try to find a wholesaler who accepts returns within a limited time frame. Most online stores do this now, but having that feeling of confidence will undoubtedly make you feel better when spending hundreds of dollars on jewelry.
Wholesale jewelry can be the future of the accessory industry with lower prices, less pressure, and more reliability. The next time you are considering a piece of jewelry, consult a wholesaler before visiting a large brick and mortar jeweler.