Selling jewellery online is one of the most lucrative ways to make money. Don’t know where to get started? We’ve got your back. Here is the complete guide to selling jewellery online!
Start Selling Jewellery Online In Easy Steps!
The increasing population, high financial standards, love for fashion, and a large consumer base are some of the major factors behind the boom of the jewellery industry. In short, jewellery is a multi-billion industry, and not having a slice of this pie is definitely a bad idea.
And if you think that starting a jewellery business is a super difficult task, you're wrong.
We have compiled this step-by-step guide using which you can start your jewellery business in a straightforward and planned way. All you need to do is, stick to the steps as well as tips we are going to discuss in this guide.
Is It Profitable to Sell Jewellery Online?
The very first question that might be bothering you is - is an online jewellery business profitable? Or Will I be able to make good money by selling jewellery online? The answer is yes, absolutely!
Don't believe us? See the stats yourself!
The global jewellery industry is expected to reach £360.6 billion by the end of 2026.
Jewellery industry is expected to touch £3.3 billion by 2022.
Over 29 billion people purchased jewellery last year.
The online jewellery market is very soon to touch £21.4 billion by the end of 2022.
Now that you've got your answer. Are you ready to become a jewellery entrepreneur and make handsome money online? Let's start with discussing the hottest jewellery niches at present!
Hottest Jewellery Niches to Set a Firm Foot in the Jewellery Market
Niche marketing is extremely necessary for starting a jewellery business. Reasons? The competition is cut-throat, and if you want to survive, you need to be very specific. In simple words, you need to decide on a particular niche for your business.
See, there are numerous options to choose from. But there are four hottest-selling jewellery niches that can help you thrive in no time. What are those? That's what we are going to discuss in this section. Let's dig in!
Costume Jewellery: Costume jewellery is undoubtedly one of the highest-selling niches in the jewellery industry. And don't misjudge this niche with fake or counterfeit products. It's not like that. For those who don't know, costume jewellery is one that is made with non-precious metals like bronze, brass and copper. It is inexpensive and made for fashion purposes. It is the highest selling because it looks like precious jewellery and comes at cheaper rates.
If you choose this niche, make sure to find yourself some really good suppliers who manufacture and supply genuine products and not cheap quality items that can damage your reputation.
Body Jewellery: Obviously, jewellery is worn on the body, so every piece comes in this category. That's true but we're specifically talking about piercing jewellery here. Think about selling the prettiest nose rings, belly rings, tongue bars, earrings, and so on. Because body-piercing is an evergreen trend, this niche can definitely take you to new heights.
Gold/Silver Plated Jewellery: Those customers who can't afford precious gold or silver jewellery satiate themselves with silver-plated jewellery. It is nothing but a cheaper alternative to real silver or gold jewellery. These pieces are made with non-precious metals like brass or bronze and have a thin layer of gold or silver plating on them. You can easily mind manufacturers producing and distributing this type of jewellery as it is very high in demand. But again, make efforts to find the most reliable and trusted supplier to ensure the highest quality of items.
Boho Jewellery: Last but definitely not least, handmade jewellery is another crazy trend that will last forever. It is for creative minds as well as people who have the skills to showcase artistic jewellery – like you!
You can start your boho jewellery store, which features all kinds of trendy handmade jewellery to give a hippie or bohemian vibe. These jewellery pieces are of high quality and quite expensive as well. But the best thing is, these are very high in demand. From celebrities to common folks, everyone is super crazy about boho looks.
But this also means you need to make your business unique to get ahead of your rivals by selling the most unique items at the best prices. When you sell unique jewellery pieces, your customers will not shy from paying a few extra bucks for that. So, it can be a win-win situation for you as well as your customers!
We are assuming that you've selected your favourite jewellery niche. Now, let's begin with our extensive step-by-step guide to selling jewellery online.
5 Steps to Start a Jewellery Business
Here are all the steps you will need to start your jewellery business:
Step 1: Begin With In-depth Research
First things first, always begin with thorough research to know and understand where you are jumping in. This research should address questions like:
What does my target market look like?
Who are my audiences?
What kind of jewellery are customers looking to buy?
What are the hottest jewellery trends?
Who are my competitors?
What kind of jewellery businesses are ranking?
And so on…!
See, jewellery comes in various categories. There are rings, earrings, necklaces, anklets, bracelets, and many more. Moreover, each of these pieces can be made in a variety of metals like diamond, gold, silver, beads, and so on.
Note that fashionistas on the internet are constantly looking for the latest jewellery pieces to add to their collection. Their choices are highly dictated by current trends and celebrity looks. Hence, it becomes extremely necessary to keep yourself updated regarding the trends in the jewellery industry. Moreover, you also need to make sure that the jewellery pieces you're planning to sell are evergreen. Otherwise, your business will not thrive once the trend is bygone.
Are you asking how to stay updated regarding the trends? Good question!
The best way is to follow the most popular jewellery blogs like Gem Gossip, SaleHoo, Gem Talk, etc.
These blogs will give you a fair idea regarding what's in demand and what articles you should add to your collection.
Step 2: Reach Out to the Jewelry Suppliers
The next thing you want to do is search for the best jewellery suppliers unless you want to make the jewellery pieces on your own – which is certainly impractical!
So, the deal is you need to search for a reliable supplier. But how? Where to get started? Finding a supplier is very easy, but finding a trusted and reliable jewellery supplier is definitely challenging. But don't worry; here are some tips that will help you in searching for the right supplier for your business:
Decide What You're Looking For: Before starting your search, decide what exactly you are looking for? Are you searching for a drop shipper or a jewellery manufacturer? Although the process of finding both is similar, the approaches are very different. With a clear goal in mind, you will be able to reach out to the right person at the right time.
Google Search is Your Best Buddy: Is there anything Google can't find? All you need to do is search in a smart way. A simple query like "best jewellery supplier + [your desired city or country] can help you connect with the party you're looking for. This query will provide you with a list of top-ranked jewellery suppliers in your area. You can shortlist them and interview them before making a final decision. Here is another tip, the top-ranked suppliers on Google will obviously be a little costly, so don't forget to check the 2nd or 3rd page as you can find really cost-effective suppliers there.
Explore Online Marketplaces: Another great way of finding jewellery suppliers online is by looking at websites like Aliexpress, Alibaba, and more. Since most jewellery suppliers are based out of china, you can find some offers at the best rates on such sites. Once you're done shortlisting the suppliers, finalise them after performing your due diligence. All you must do is, check their background, contact details, and samples, and maybe interview them on a video call.
Participate in Trade Shows: Trade shows are a great way to meet and find trusted jewellery suppliers in your area. So, check if there are any trade shows happening in the areas around you. The best thing about going to trade shows is you can stay assured of the legitimacy of the businessmen you're meeting.
Step 3: Setting up your Store
Now comes the most important part, setting up a dazzling online store that holds the power to attract more leads and convert them into your buyers. Let's face it; it is going to take a lot more than just building a website and writing jewellery blogs to rank it. With that in mind, here are some tips that help you set up a jewellery store online in the smoothest way possible:
Determine Your Jewellery Niche: Without having a niche, you can't really expect your jewellery store to thrive in this fierce competition. Doing this will offer you better control and command over your business, and you can bypass many tough competitors as well. The idea is simple, and you need to target a specific type of audience. For instance, if someone wants to purchase a beautiful ring, they are not going to rummage through necklaces, earrings, bracelets and all.
Contact a Professional: As soon as you've decided on your niche and are clear with your business outlook, contact a professional website developer who can help you build a high-quality and functional website. Here is the most important piece of advice: don't try to save money here by trying to build your website with little or no technical knowledge, using so-called website builders. This may flop your business before even starting. Instead, contact a reliable company like Bharat Website Makers, and tell them all your requirements. Their talented website designers and developers will build a tailor-made website that will help you ensure the success of your jewellery business.
What happened? Are you on a budget? Don't worry, In case you don't want to hire a website development company for some reason, then you can build your website using special website builders like Shopify, Magento, WooCommerce, BigCommerce, etc.
On these platforms, you can either build your jewellery store from scratch or add additional capabilities to your existing site. Let's discuss a bit more about these platforms:
Shopify: Shopify is the king of all online eCommerce platforms out there. You can build your store on this platform using its simple features and get it up and running in no time.
WooCommerce: It is basically a WordPress plugin that lets you add useful functions to your eCommerce store.
BigCommerce: BigCommerce is another website builder you can use for setting up your jewellery shop.
Step 4: Price Your Jewellery Mindfully
One of the most critical decisions to make is none other than pricing your jewellery. As a general rule of thumb, always start with pricing your articles four times the cost of materials plus packaging and shipping.
Note that a majority of whole and consignment facilities take as high as 60% of your total retail cost. So, by pricing your jewellery four times more than this cost, you can save yourself from losing money or working for free!
Another thing to decide is whether or not you're charging your customers for delivery or shipping.
Below are some other important questions you need to address while deciding the price of your articles:
Will you offer a return policy? If so, how will you proceed with refunds?
What if the jewellery gets damaged before reaching the customers? Will you offer reimbursement?
What are some good schemes you can launch to attract more customers?
Step 5: Utilise the Top Online Jewelry Marketplaces to Expand and Diversify
Although you've your own website, listing your jewellery on the top jewellery marketplaces will only help you bring more conversions. Here are a few best platforms you can consider listing your jewellery on:
KashWork: Selling goods on KashWork is a brilliant idea. Because so many of us utilise the platform to buy anything related to fashion, automobile, House decoration, mobile, and Laptops, it's quite convenient. You are sure to discover customers for your products with Kashwork’s over 800 million monthly visitors! Plus, using the site to sell is completely free for the time!
Making a KashWork Store that appears professional is also required. For additional details about selling on KashWork, you can read our blog for selling on KashWork.Amazon: To give craftspeople a more focused platform to market their goods, Amazon created Amazon Handmade in 2015. Amazon Handmade, as the name implies, sells only items that are crafted by hand, including jewellery.
To ensure that the products are truly handmade, Amazon Handmade examines each artisan application and verifies manufacturing processes. If you manufacture handcrafted jewellery, this is a fantastic alternative as it eliminates competition from vendors of inexpensive, generic jewellery.
Amazon is providing free Professional selling plans to Amazon Handmade creators through the end of 2021 (normally $39.99 per month). They do charge a 15% referral fee for each product sold (or a $1 minimum). Therefore, you must decide whether the payments are worthwhile.
Remember that Amazon is one of the top online retailers worldwide. You might do well for yourself if you can access that consumer base.eBay: After Amazon, eBay is the second-largest online retailer in the country. Its auction feature makes it an excellent platform for selling jewellery, particularly vintage or antique pieces that may be worth more than you realise. As a result of the intense competition on eBay, sellers who can compete on price often experience a race to the bottom.
You can still be successful selling jewellery on eBay if you can improve your listings and find items that customers want to buy. If you're thinking about selling on eBay, you should read the company's instructions for selling jewellery.Etsy: The retail market for arts and crafts is dominated by Etsy. It is the most well-known and well-established eCommerce marketplace for handmade goods.
That's because it was the first significant departure from companies like eBay and Amazon.
It states that there are 1.4 million merchants, 20 million active buyers, and nearly 54 million registered users.
But since that happened in 2014, the figures have probably gone up. While Etsy appears to be a specialised platform—the internet equivalent of your local craft market—it is a powerful retail force.
Jewellery is ideal for the Etsy marketplace, particularly if you can find or make something distinctive. You must make every effort to distinguish yourself from the thousands of other sellers with whom you will compete. Just be mindful of the USD 0.20 listing cost for each item, which, if you have a large inventory, can rapidly mount up. A transaction fee of 5% is also charged.
How Much It's Going to Cost to Run a Jewellery Business?
We know you're going to ask exactly how much it is going to cost to run a jewellery business. To be honest, there is no specific answer to this question as it depends on numerous factors like the size of your store, the niche you're operating in, the area you're living in, the demographics you're targeting and so on.
But if you're still looking for numbers, then it will roughly cost you around £400-500. These figures can go up or down on the basis of the factors we've mentioned above.
Bonus— Pro Tips for Selling Jewellery Online
We'll give you some expert advice on how to keep your store open and running now that you have a clear concept of how to launch your online store and what you want to sell.
Don't worry, and these suggestions are free! We only ask that you use them every day (and share this article if you find it helpful). All right? Great!
Tip #1: Stay Away from Fake/Counterfeit Goods
The most crucial piece of advice we can give you is probably this. You'll spare your consumer's (and yourself) stress by staying away from bogus goods. Did you know that branded jewellery from companies like Tiffany and Co., Bvlgari, and Gucci is frequently the target of forgers? One foolproof technique to prevent selling imitation jewellery is to only purchase materials from BBB-accredited vendors (Better Business Bureau).
Fake jewellery is simple to identify, as the photograph above demonstrates. The majority of false products eventually turn your skin green (and, in some serious cases, can cause rashes). But given that this ring resembles costume jewellery, the customer should have anticipated this.
Right now, there are a lot of companies offering inexpensive goods. The issue, though, is that selling counterfeit goods could result in the closure of your website. You might even be prosecuted by the owner of the original brand!
Your customers won't return even if that doesn't happen because they were upset with you.
Consider if you would rather spend more money on products that will satisfy your consumers and keep your business afloat, or less money on subpar imitations that will garner a tonne of bad reviews.
Avoid buying bogus goods, which should be a straightforward response.
Tip #2: Provide Your Customers with a Reason to Choose You Over Your Rivals
We have discussed how fierce the competition can be when selling jewellery online. Before starting, you must consider how you will set yourself apart from the hundreds of other dealers
A wonderful method to achieve this is by selling fair trade products. The craftspeople who create fair trade jewellery do so in environments that are secure and kind to them.
Additionally, these labourers receive appropriate compensation for their labour. Fair trade jewellery is also manufactured without utilising child labour and with ecologically friendly practices, which is another fantastic quality!
Customers would go crazy for your jewellery if you labelled it "Fair Trade" and explained to them what that meant. They will take pride in the fact that they are purchasing their jewellery from a trustworthy vendor.
Tip #3: Leverage the Power of Facebook Advertising Campaigns
You'll rapidly make Facebook campaigns your best buddy. Because you may target customers based on their age, gender, and geography, you can connect with a wide range of people, whether or not they are already familiar with your company.
You can decide how long you want your advertising campaign to run as well as set a fixed daily budget. Check out this post by KlientBoost for further advice on Facebook ads.
Tip #4: Consistency is the Key
You must share material every day if you want to keep your business up to date on social media.
This requires that you frequently update your Facebook, Twitter, Instagram, and Pinterest accounts with images, blog entries, and straightforward status updates.
Spend some time at the start of the week gathering images, quotes, or product photographs and setting up different times over the week for them to be published. When you master this, try scheduling for two weeks at a time. (To do this on a budget, utilise a program like Buffer.) By placing posts in the queue, you'll ultimately save a lot of time. You won't ever forget to post again if you do this.
Tip #5: Adding Comprehensive Product Information is a Must
You'll need to provide buyers with concise and descriptive information for each piece of jewellery, even while you don't want to overload them with lengthy paragraphs for each item.
The majority of people prefer to know what they're getting in advance and, if something is unclear, won't contact you to clarify it. By outlining the materials that went into the designs up front, you can let your buyers know exactly what to expect. You might even mention why you adore the work!
Another tip is to make sure your policies are obvious, so there is no misunderstanding later on regarding exchanges, returns, etc.
Finally, effective product descriptions can take your online jewellery store to the top of the result pages.
To Wrap Up
Selling online jewellery is undoubtedly one of the best ways to make money from the comfort of your home. If you're really passionate about this business, then don't wait anymore and follow our guide to get started. What else? Set up your online jewellery store and get it up and running right away.
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