- What to Consider When Starting Watch Business？
- Best 9 Wholesale Watches Websites
- FAQs about Starting a Wholesale Watch Business
Watches much like shoes, handbags and other jewelry can upgrade even the simplest of outfits. Watches in most cases can be seen as investments as most of the time people opt for a piece that can serve as an heirloom or statement symbol. Generally, a lot has changed over the years in regard to watches. Since the first pocket watches of the 16th century, strides have been made in improving the design of watches.
For many years the Swiss clock and watch industry has been the worldwide watch hub, but in recent years other players have joined the industry to make the watch industry competitive and advanced, with other companies joining in the market, the watch industry has hence increased and a variety of watches have been produced.
China has recently been the most competitive markets in the world with both the increased market demand and production capability.
Increased cutting edge technology has also been seen in the watch industry, the new smart watches that are not only chic, but extremely useful in various aspects such as tracking life and health data, getting phone alerts and so much more.
Among the young people, digital watches are in high demand. With brands such as Timex and Casio the advent of wearable gadgets is increasing the demand for smart watches. Luxury pieces are however still perceived as status symbols especially for people in the business community.
The disposability and availability of value watch brands has made watches a popular fashion choice among customers all over the world. Lower and mid –priced watches are currently gaining market traction.
What to Consider When Starting Watch Business？
Despite the availability and prevalence of smartphones all around the world, watches continue to remain a popular piece of accessory over time. Watch sales over the world have been increasing over the years.
Watch business sell to consumers who are interested in valuable time pieces. Thanks to sustained demand and market for watches the industry is always filled with opportunities.
With an expected annual growth of 9.9% projected between 2019-2024, the watch industry has no signs of slowing down yet.
Make a Business Plan
A business plan is important as it can be used to outline the important aspects of the business such as: the business model, products, marketing strategy and the company objectives. This plan is important as it will help you track your goals and focus on attracting more customers.
Find Your Niche
Watches come in all shapes, sizes and styles. Finding your niche as a businessperson in a wide array of options is essential. Although you can sell a variety of options, it is better to identify your target market and find a way to meet their expectations.
Find a Pricing Model
After identifying the niche it is important to decide the price range for the product to maximize on profits and also be customer friendly. High end luxury watches will cost a higher amount than the other watches and the customers who buy these types of watches will buy them for the class and opulence.
Find Suppliers and Manufacturers
With research and a lot of time spent, this is one of the most important parts of the business. Finding a reliable supplier or manufacturer is essential as you will need to find legitimate and trustworthy options so that you do not suffer losses.
Market and Promote the Business
Having a business website for marketing your product is essential in today’s business climate. It is the first place the customer will look in search of the product.
Your website should have all the necessary information that the customer can use to find a product. You should make sure to use quality images, detailed product descriptions and an updated contact information page along with other necessary information.
Being the final step in any business the packaging and distribution of the products is an essential part of the business. Make sure that the packaging is done in a way that is appealing and safe.
The products should also be delivered in time this will enhance customer trust on the product and the business.
Best 9 Wholesale Watches Websites
Nihaojwelry is among the world’s top wholesale jewelry websites in the world. The website is updated and dedicated in helping customers of wholesale accessories and jewelry all across the world. With a wide variety of products, the website provides a wide range of the latest watch brands to choose from.
The company offers fast delivery of the products and with no minimum quantity order you can purchase a variety of products at a given time.
The website is updated and easy to access and with an excellent IT support making it possible for customers to easily find products. The quality of the watches and products sold is high and the prices are fair making it customer friendly to buy products.
Chinabrands focuses on dropshipping and distribution. The site offers a wide range of products on the e-commerce platform with the aim of helping the global sellers have an easy way of launching and selling their online business.
Chinabrands has a large variety of products from over 40 warehouses; the website contains products form over 5000+supplier’s. The company ships to over 200 countries and regions.
This is an online retail service based in china from the parent company Alibaba. The service offers a variety of products to online retailers all over the world.
Aliexpress is used by online retailers who offer dropship services and the services spread over different regions in the world. The website is easily accessible and affordable making both wholesale and retail shopping experience easy.
DHgate is a Chinese e-commerce website that facilitates the sale of manufactured products to retailers. The website offers best quality products direct from china at cheap wholesale prices.
The platform links small businesses and manufacturers directly to individuals and buyers worldwide. The website sells a variety of products using the business to business model while also offering fast and reliable delivery.
This is one of the top platforms for sourcing products in china, offering a one stop sourcing channel for potential buyers. The website has SGS accredited suppliers while offering an array of solutions and tailored services.
The website focuses on offering high quality Chinese products and a link to supplier information to buyers from all around the world.
This website offers a business to business model. It is one of the recommended sites for buying and selling in the US. The website contains a directory of suppliers that buyers and easily access. The suppliers are often linked in the site and so buyers can be easily redirected to their specific websites.
This is an online wholesale store based in the US which offers a one stop shop for products. The products sold come in a variety of sizes and hence ensures that all people are accommodated.
The website is linked to amazon for drop shipping to ensure a smooth transition of products from the suppliers to the customers.
This is a British based wholesaler offering a versatile range of products to choose from. The site offers a wide selection of watches and other types of jewelry at affordable prices. Wholesale UK accepts a variety of payment options which also include interest free credit cards and PayPal.
DK wholesalers is one of the top and most trusted wholesalers in the UK. With their operations starting in 1981, DK wholesalers is the leading distributor of products across the UK.
The company provides stock holding solutions making it easy for the customers to be able to buy and get the product immediately. DK offers a one stop solution for the customer and deliver above and beyond customer expectations.
FAQs about Starting a Wholesale Watch Business
How do I start a wholesale business?
By offering a business model that is unique and caters to specific clients you can be able to attract customers by making your business appealing to the customer in terms of products and services.
Where do I find customers?
The right research and marketing is important in finding new clients? Referrals and building network will enable you to find more clients for the business.
How do wholesalers make money?
Wholesalers make money by buying products from manufacturers selling them to retailers at a profit.
How do I find manufacturers?
Manufacturers can be found by conducting research on the type product that you want to sell.
With the watch market size increasing, watches are becoming readily available with the increase of retail and wholesale supply of watches to local markets.
The current trends and inclusion of watches in the fashion industry as fashion accessories has also seen the demand for watches increase.
The watch business is therefore on the steady rise and hence a sure way for wholesalers to increase profits by tapping into the growing market.