The jewelry industry in the world has seen increased growth over the years. This growth can be attributed to the increase in disposable income and the innovative designs offered by most manufacturers.
The growth of the jewelry industry has also been due to the introduction of fashion jewelry where the industry players incorporate jewelry pieces along with the fast-paced apparel industry.
The increased need by consumers to be associated with brands has also resulted in high demand for branded jewelry. A brand is your identity and reputation; it is how your customers perceive your business.
Are there Big Opportunities in the Jewelry Industry?
The jewelry industry is one of the fastest rising industries in the world. The opportunities for growth in are numerous and this growth can be attributed to factors such as:
The introduction of “new money” consumers, where people who recently acquire wealth turn to branded jewelry as a means of showing off their newly acquired wealth.
These groups of people buy jewelry so that they can keep up with trends as opposed to the “old money” groups who use jewelry as heirlooms or estate jewelry.
The rise of young consumers who use branded jewelry as a means of self-expression or as fashion statements.
There is also a new emergence of consumers who use jewelry as a sign of an upgraded lifestyle. With these people, brands inspire trust and a form of identity as most people would prefer to be identified with brands.
Most retail stores that deal in fast fashion are also incorporating jewelry into their brands and hence shoppers tend to buy the jewelry pieces together with the fashion pieces.
8 Tips on How to Establish a Successful Jewelry Brand
In the past branded jewelry was associated with known brands such as Cartier or tiffany and co. the introduction of new players in the market. To be able to establish a brand, companies should be able to differentiate themselves by offering unique and distinct designs.
Branding is all about translating the pieces that you love into products that can be purchased by customers. This means creating a product that will enable you to fulfill your goals while at the same time making profits.
Branding is usually a perception business and it all comes down to how you want to be known in the market and what will be able to make you unique.
Creating a brand for your business is important as it will ensure that you have a unique identity in the wide market. There are several factors to consider when you want to create a brand these factors may include:
Identify Your Niche
This is the first step for any jewelry business, you need to first know the type of jewelry that you would prefer to deal in and what your customers would like. This will also ensure and study the product so as to know what you like and how to uniquely turn that passion into a business.
Establish How You Would Like to be Perceived
This is an important step in brand creation, you first have to know your target audience and how you would like them to relate to the brand. You need to establish what your customers would like and how you will be able to satisfy their needs. Your brand will essentially be your promise to your customers.
Organize Your Business Based on the Perception
After establishing what you want your brand to look like you need to then structure your business so that you can be able to fulfill the promises that you have made to your customers.
This is the step that will set you apart from your competitors’ customers will always need you to keep the promises you made and they will hold you to the standards you set for your business.
Choose Suppliers and Product Development Process
Choosing suppliers is an important part of the business. The suppliers will offer you the product to sell and hence it is important to choose suppliers who will be able to fulfill your market demands.
Some manufacturers offer the option of in-house branding hence it is necessary to conduct thorough research and find a supplier who will create a brand and fulfill the promise you have made to your customers.
Research on Your Brand Design
The brand design is how you want your products and business to look like. This will involve a lot of creating and designing to come up with a product that speaks to you and that may be preferred by the customers.
Advertise Your Brand
This is the next step that comes after setting up your business. To be able to attract clients you will need to communicate about your brand to your target market. Give clear information about what your brand offers and how it will satisfy the needs of your customers.
Offer Attractive Prices on Your Products
Product pricing is one of the most important factors to consider when establishing a brand. To set up the correct pricing you first need to research the market prices and set prices that will enable you to get and maintain customers, while still getting profits.
After you have established a customer base ensure that your business is consistent. This will be in terms of product quality, customer services, and mode of operation. Stick and improve on the brand but never go back on the promises you made as this is a sure way to lose customers.
7 Best Jewelry Suppliers in the China/ UK/US
|Nihaojewelry||China||Worldwide||No||2-4 business days|
|Chinabrands||China||Worldwide||No||7-20 days plus shipping|
|Jewelrybrund||China||Worldwide||No||2-6 business days|
|The Welman Group||USA||Worldwide||100$||2-3 business days|
|JewelryMax||USA||Worldwide||/||2-8 business days|
|Mainly Silver||UK||Worldwide||/||3-5 business days|
|Amber Jewelry||UK||Worldwide||/||2-10 business days|
Nihaojewelry is a jewelry and accessories supplier based in China. The company offers good quality products at very affordable prices. The company acts as an ODM and OEM manufacturer for some of the top brands and hence it is a good place to start if you are looking to start a branded jewelry business.
The company offers some of the best jewelry designs in the world and it serves as a one-stop-shop for all your business needs with no minimum order for products.
Chinabrands is a dropshipping and distributing platform that offers supply chain options to sellers all over the world. The platform offers a variety of products with new and affordable trends coming up often.
The shipments are made all over the world with the delivery time depending on the buyers’ location.
This is a professional wholesaling business for jewelry and accessories. The company offers a variety of products with trendy pieces that are updated regularly. The company offers valuable manufacturing and efficient customer care experiences to ensure that the clients’ businesses succeed.
The Welman Group
The Welman group is a US-based wholesale jewelry distributor based in the US. The company deals in unique silver and unique stainless steel jewelry and fashion-forward fashion pieces at affordable rates.
This is an online jewelry wholesaler that deals in the latest jewelry and fashion accessories. The pieces are made with artisan metals and are designed offering great attention to detail.
With a wide selection of pieces to choose from and at affordable prices, the site allows you to choose from a wide array of products that will fit your requirements.
Mainlysilver is a UK based jewelry company that sells products at incredibly affordable prices that will guarantee you better profit margins. The company has over 20 years of experience in design, manufacture, and distribution of high quality and affordable silver jewelry.
Amber jewelry is one of the UK’s leading distributor, wholesaler, and exporter of high fashion jewelry and fashion accessories. The company offers high-quality trendy jewelry pieces at affordable prices to be able to satisfy the needs of a wide range of customers. The products are carefully carded and barcoded for ease of purchase and re-ordering.
The process of branding ensures that the customer will easily relate to your product hence this is a necessary step to take when establishing any business.
Establishing a brand that will be well received by the customers is a process that requires you to do a lot of research to be able to come up with a unique identity for your business.
Branding helps you stand out in a huge and competitive market and hence it is important to use all the available resources to ensure that this process is done efficiently and adequately so that you may be able to attract more customers for more profits, which is the aim of any business.