How To Sell Jewelry Online in 2022 | Is it still profitable?
Are you interested in starting an online semi-fine jewelry business? Do you already have a business, but you’re unsure how to sell jewelry online? Is selling jewelry profitable?
So many questions, so little time. This guide will help inform you of your options and provide you with the best advice and steps to success to ensure you know how to start a jewelry business online.
The Advantages of Selling Jewelry Online
There are many advantages to selling semi-fine and fashion jewelry online. From the ease of stock storage to its versatility and potential for a wide audience, here are the benefits of selling semi-fine jewelry and fashion jewelry.
How Much Space Is Needed?
Jewelry does not need a large amount of space to be stored in. Unlike other common products sold online, such as clothing and electronics, jewelry can be fit in compact storage spaces. Therefore, you may not need to seek additional space to store your stock. In fact, any spare corner of your living space can be efficiently utilized, saving you money and resources. Furthermore, jewelry is cheaper to ship as packaging size and weight are minimal and easily kept low.
What is the Size of Capital?
Unlike fine jewelry, semi-fine and fashion jewelry require a small amount of capital. Semi-fine jewelry is less expensive but has a quality base metal like sterling silver. On the other hand, fashion jewelry commonly has bases like copper, bronze, or zinc, and uses simulated or synthetic stones. This means you get more bang for your buck with product and shipping costs, and you can test selling a wider amount of jewelry online with less financial risk.
Can My Jewelry Store be Unique?
Jewelry is a highly diverse product with an extensive range of designs available. For this reason, you can cater your business to different markets, and there is always room to expand and offer numerous options and styles for wider ranges of audiences.
Is Selling Jewelry Profitable?
Jewelry has no fixed perceived value like electronics devices such as laptops and phones. This means that depending on your brand, audience, and marketing strategy, it is possible for your semi-fine jewelry to make between a 25-75% profit margin.
Are There Many Suppliers?
Suppliers for jewelry can be found everywhere since it is such a competitive market. Therefore, doing your research on suppliers is imperative to your business. The advantage of being in such a competitive market is that you have the opportunity to find and compare suppliers that are perfect for your business. With this, you can explore their pricing, stock, and how they approach a relationship with your business. You can find advice on how to do this with our Quick Guide in Reselling Wholesale Jewelry.
How to Start a Jewelry Business Online Successfully
Selling jewelry online has many advantages compared to other products, but you may be wondering how to make jewelry to sell online and where to sell it.
Unfortunately, there is no one-size-fits-all business model when it comes to the online marketplace, and it’ll take some trial and error before you discover how to sell jewelry online successfully. You will need to make sure you take into account many variables. It will depend on your target audience, branding, knowledge, budget, etc. Nevertheless, here are popular options for online selling.
Online marketplaces are common places for small businesses to sell products, but they all come with pros and cons, and you may even be wondering, “Is selling jewelry profitable on these platforms?” Well, let’s find out.
Etsy is a global marketplace for custom and handmade goods.
Pros: Access to a large audience, built-in analytics system, easy account and store set up, and it’s an easy-to-use interface that makes running and maintaining your store simple.
Cons: You cannot sell mass-produced items, Etsy charges fees for listings and transactions, and the market could already be saturated.
Amazon sells a wide range of products of all types and categories globally.
Pros: It’s easy to set up a store on Amazon Marketplace, it’s an excellent place for stores with unique products, you receive good profit margins, and everyone is on Amazon, so there is a great chance for customer reach.
Cons: Amazon takes a cut of your earnings, your customer relationship is reliant on Amazon’s systems, Amazon can shut your store without notice, and other sellers can copy your product listings without consequence unless you have a brand.
eBay is another well-known marketplace with unlimited selling potential.
Pros: You can reach a vast audience, there are no limits to what you can sell, and more personal interaction with your customers can be achieved.
Cons: eBay has strict rules and policy restrictions, the seller fees can be high, and there is a lot of competition.
Bonanza is a marketplace that boasts being a place where you can find “anything but the ordinary” and prides itself on offering unique stores and products.
Pros: Commissions are low and are only taken at the point of sale, customer interaction is personal and direct, it has Google integration for marketing plans, there is a high level of security, and you can synchronize your sales with other platforms.
Cons: It does not have as wide of a customer reach as the above websites, Bonanza is not yet a recognized brand, features and sales analytics are limited, and there are limited listings allowed for your store.
Building Your Own Website
Creating your own website to sell from provides you with more control over your products and the selling process, and maybe your key to how to start a jewelry business online successfully.
There are many advantages to creating your own site. For instance, you won’t have to pay seller fees, you have complete control over customer interaction, and there are no limits on what you can sell and how many listings you provide. However, it is more challenging than selling on an established online marketplace.
Building your own site means you also have to build reputation, establish your brand name and troubleshoot technical issues yourself. Online marketplaces already attract customers and have tailored systems and marketing campaigns.
Building your own website can be more profitable in the long run and is easy to learn. With patience, use of online resources, and dedication, you will be able to sell on your own website successfully.
There are also many website builders available that are easy to use and maintain. Examples of these sites are:
How to Sell Jewelry Online Successfully
Learning how to market your jewelry store is imperative. Apart from learning how to make jewelry to sell, marketing is just as important. Learning about digital marketing will help you in the long run and solidly cement your brand and audience. You can use tools such as Google ads, social media ads, and YouTube ads to increase customer awareness and sales.+
Reach Out and Start Selling Semi-fine and Fashion Jewelry Now
Starting an online store selling semi-fine and fashion jewelry has never been easier and more lucrative. ELF925 is an incredible wholesale jewelry supplier that will provide you with expert advice on how to sell jewelry online and supply you with reliable products.
ELF925 makes the process of acquiring and selling semi-fine jewelry simple, and will always endeavor to go the extra mile for your needs. Contact us today to learn more!