- Where to purchase jewelry with the best resale value in 2020
- Why people need jewelry
- Is it possible to make money?
- Where to purchase jewelry with the best resale value
The jewelry industry has been among the fastest-growing industries in the world.
This growth can be attributed to the change in perspectives about the function of jewelry in various settings.
Before jewelry was worn as a status symbol or for very specific functions but nowadays, both men and women have embraced jewelry as a part of everyday fashion.
This has caused the demand for jewelry to increase and since the fashion industry is influenced by trends, the fashion jewelry industry is also fast-changing and dynamic to fulfill the needs of the market.
Where to purchase jewelry with the best resale value in 2020
For a long time, jewelry has been used as a means of expression in the ancient times’ jewelry was mostly used as a status symbol but currently, the industry has shifted to incorporate wearable pieces that are mostly paired with daily outfits to add some personality to what would be considered a boring look, making the wearer feel more confident and put together.
In 2019, the sale of jewelry was up to 21billion Euros and the numbers are expected to rise.
Like the fashion industry, the jewelry industry is every-changing as most of the sector is dictated by trends and the players in the industry should be on top of their game when it comes to providing the latest trends on the market.
Most of the fashion stores have diversified their products and instead of offering only a particular type of products most of the stores are now including jewelry pieces.
This has made jewelry more accessible and since most of the pieces sold are affordable, customers are likely to purchase jewelry pieces more frequently.
The demand for branded jewelry has also seen an increase over the years and this can be attributed to the fact that most of the youth in the working class have more disposable income and since they are more into using fashion for expression, they will be inclined to purchase branded jewelry pieces to show out.
With the rise in eCommerce, most jewelry businesses are shifting online which makes the products easily available to a wider market.
The availability of products online makes the shopping experience easier for people all around the world.
The online platforms make it easier for customers to engage with sellers directly instead of having to physically go to the store which makes shopping for jewelry more flexible.
The concept of fast-fashion has taken over the world; most of the products that are seen on runways are easily translated into wearable pieces which have resulted in shorter production time for most goods.
As the jewelry industry is also dictated by fast fashion, it is currently common to see pieces easily available in the market.
Technological advances have currently changed the jewelry industry as before it took a long time to access precious metals such as gold or diamond recently, technology has led to the production of scientifically produced metals which are far more accessible and since the industry uses most of these precious metals, having them easily accessible is a huge boost to the market.
Why people need jewelry
For as long as humans have existed, jewelry has always been available and throughout the different eras, jewelry was used to serve different functions.
In ancient Egypt, jewelry served as a status symbol while in the roman kingdoms, the jewelry pieces were reserved for royalties.
Presently the industry has shifted tremendously and now jewelry is used widely as a fashion piece.
The increase in the demand for jewelry can be attributed to the wide acceptance of jewelry among a wide range of people and the wide use of jewelry in fashion runways which are then translated into everyday pieces.
There are various reasons why people wear jewelry and some of these include;
- Jewelry can be used to express an individual’s personality, someone may use jewelry to show what they are like and their identity, some people associate certain gems to their birth dates, they may use certain symbols that they associate with certain events to remind themselves of who they are and their experiences.
- For a long time, jewelry has been used as a symbol of love and affection. In most instances, jewelry is used to express love which is the case when people exchange wedding rings or people may gift their friends or partners with necklaces or bracelets during important occasions.
- For certain cultures, jewelry can be passed down from one generation to the next as a family heirloom.
- Jewelry can also be used to build on esteem. Most of the people are inclined to purchase known brands because of the prestige that is associated with the brand. This brand association will give an individual a sense of belonging and they may feel important which is one of the factors that drive the current generation.
- In some religions, jewelry has a religious meaning. Most religions have prayer beads in the form of necklaces or bracelets or rings that have the cross on them which most religious people believe may be used to help them get through certain difficulties.
- Jewelry is currently used by most individuals to add character to otherwise boring outfits. You will realize that most fashion influencers and magazines will advise adding a statement jewelry piece to a plain outfit to ensure you stand out.
Is it possible to make money?
The Jewelry industry is dynamic and with a variety of market players and so you have to compete in the market to make money.
Like any other business, the jewelry business needs that you study the market widely to know which type of pieces sell easily to ensure that you make profits.
To be able to stand out in the market you need to:
- Find a niche- this is one of the most common pieces of advice for any business, you need to be very particular when selling products to be able to have a higher market advantage. Finding a niche will enable you to easily find what works best for you and the market which is important if you want to make it in the business.
- Find a good supplier-after identifying a niche, you need to find the best supplier for the products. The supplier is the most important part of the business as they will provide you with the product to sell. You need to find a supplier who is reliable and flexible enough to provide on-trend items.
- Set up an online store-since eCommerce is the majorly used business model, setting up an online shop will enable you to compete in the market. You may have the traditional brick and mortar business but you also need to ensure that your online store is functional to be able to survive the current market.
- Market your products- this is almost a rule of thumb, you will not be able to make profits if you do not market your products. Marketing ensures that the customers know about your products and the more the customers the more the sales which translate to profits for your business.
Where to purchase jewelry with the best resale value
Nihaojwelry is the top among the most reliable suppliers for fashion jewelry and accessories.
The company produces over 200,000+ products and the latest trends in jewelry pieces.
The company acts as an OEM and ODM manufacturer for major brands which means it is the most trusted to produce top quality products and affordable prices.
The affordability of the jewelry pieces makes it possible for you to make huge profits from the resale.
The company also offers efficient shipping and customer care services to ensure that you have the best shopping experience.
Stuller is a US-based company that deals in a wide selection of jewelry and jewelry accessories.
The company produces both premium and high-end jewelry pieces for both wholesale and retail and frequent discounts on some of their products.
With over 40 years of experience in the industry, Radford accessories manufacture top quality jewelry products that are made available to the UK markets.
Since the company only operates within the UK, shipping is between 2-5 days.
As the name suggests, the company deals with mainly silver jewelry pieces which are top quality and provided at affordable prices to ensure that you make profits off your business.
The company offers unique jewelry pieces that sell easily in the market.
The company is among the top jewelry suppliers in the US, having been in the market for a long time, the company has managed to compete in the market by providing quality and updated jewelry pieces that can sell.
Since the jewelry industry is dynamic, a jewelry resale business should be flexible enough to fit the needs of the changing market.
To ensure that you are successful in the jewelry business, always ensure that you provide the market with the latest trends of the top quality products and make your prices attractive to enable you to compete in the market.