Wholesale Jewelry Store Suppliers
Wholesale suppliers to independent specialty stores focus on satisfying the store’s needs in what type of products their customers demand. Retailers want a product that has been established and will sell quickly. Contacting local wholesale suppliers is a good first step to get a feel for what products do well in that market.
Finding a wholesale distributor or wholesale supplier who already has an established relationship with independent retailers is essential. The wholesaler and retailer relationship is important in product placement in retail stores. If a wholesaler has a good reputation with a retailer the process of getting products into the store is a lot smoother.
Building a relationship and a positive track record is a very important part for the distributor. It is important for the distributor to do some research on what kind of specialty products do well in each store, which can be dependent on where they are located. If a product does well in one retail store the likeliness the wholesaler will recommend it to other stores is high. In independent retailers and stores in general it is all about shelf space and what sells well will claim that shelf space. Products that do not, will be given less space or no space in order to move in a new product that sells well.
Wholesale suppliers look for products that are innovative and will set them apart from competitors. So, new products have a better chance of making it into an independent wholesaler that works with independent retailers vs. a big box store. A wholesale supplier will have a stronger personal relationship and knowledge with products compared to big box stores as well. This is beneficial to everyone involved because having knowledge about the product in stores will improve sales.
In order to get a product into a wholesale specialty market contacting the correct supplier is the first step. The next step would be sending samples and other pertinent information to that wholesaler if requested. They like to see proof of sales and selling points of that product. Communicating about price points and minimum order quantities is very important. If the distributor likes the product and thinks it would be a good fit for their route they will purchase the product.
If the product does well in stores, the wholesale supplier will continually order more. Proof of sales will bring more orders and getting in contact with other distributors, wholesalers and suppliers in other parts of the country is the next step. A product with proven sales in a few independent specialty stores will make its way to independent retail stores all across the nation through different distribution channels. Establishing and building relationships with distributors and wholesalers is the best way to get products into retail stores.
Top 5 Wholesale Jewelry Store Suppliers
The jewelry industry is a billion dollar industry. It features the wrist watches, the pendants, the brooches, the rings, the necklaces, earrings, cufflinks and bracelets. They may be attached to the body or to clothes. Normally, a gemstone is attached to jewelry and this is true for the much expensive jewelries that feature in museums and on some very rich people. Other things attached to jewelry or jewelries are made from are amber, coral, precious metal, beads and shells. Jewelries hold several meanings to several cultures and societies.
Getting quality and original jewelries may be hard but distributors have got this sorted. They go straight to the jewelers to get different kinds of products to the retailer’s store.
In no particular order, the list of top wholesale jewelry store suppliers would be given below:
The Welman Group
Based out in Bethesda, Maryland, the Welman Group is a leading wholesale jewelry supplier/ distributor with thirty years experience in the business. The Welman Group is best known for its stainless steel and silver jewelry available in diverse styles, at great prices.
The Welman Group also sells closeouts (fashion jewelry and antiqued brass) and costume jewelry. Their rings are particularly unique with the company offering an exquisite range of high-quality rings with Celtic designs.
Stuller is a fine jewelry manufacturer that offers a wide range of high-end and customized jewelry pieces in wholesale. Stuller sells the best of engagement rings, gemstone rings, as well as die-struck jewelry and bridal jewelry varieties. And unlike other jewelry wholesale suppliers, Stuller also sells men’s rings which are made of different metals like gold, silver (sterling and continuum), platinum, and palladium.
Wholesale Accessory Market
Despite the name, this site sells jewelry in wholesale too. The wholesale jewelry not only offers affordable pieces but also ensures that you stock jewelry pieces that your customers are looking for. This is made possible by the fact that Wholesale Accessory Market carries a wide selection of top quality designer pieces of jewelry that include hundreds of necklaces, bracelets, collars, pendant sets, and fashionable rings, all in different styles.
Based in Atlanta Georgia with a name derived from the term ZEN, Zenzii Wholesale is another reliable wholesale fashion jewelry company. Zenzii Wholesale sells bracelets, necklaces, rings, and earrings at low prices. Their collection includes more than 4000 styles which include a large collection of statement necklaces, trendy earrings, stackable bracelets, as well as handmade jewelry.
For at least 30 years, Kole Imports has been the largest direct importer of merchandise, selling them at great wholesale prices to the widest range of customers, throughout the country.
Wholesale jewelry importation is one of the company’s fields of expertise which is why Kole Imports is one of the best-known wholesale jewelry suppliers in the US. With a novelty of high-quality and attractively designed jewelry pieces, this supplier offers its retail clients the best deal.
Here are the 6 steps you need to take to have your product picked up by a supplier.
1. Start with the right questions.) Before you try supplying your product, you need to ask yourself a few basic questions. Do you need to build demand for your product, or is there already a demand for it? Do you know that the supplier would be interested in selling your product? If you can strike a deal with them, can you handle the production volume? Do you want to sell directly to the supplier, or do you want to license your product to a manufacturer that will handle supply?
2. Be prepared to profit.) Does your product offer enough of a profit margin for a supplier? Can you sell your product at a reasonable enough profit to cover the packaging, shipping, commissions, marketing and wholesale supply? Check the supplier’s guidelines for other fees that you will have to build into the cost of your product in order for you to be able to turn enough of a profit to make the effort worth your while. If you work with a discount retailer, they will try to strip your profits down to zero in order to keep their prices as low as possible.
The typical breakdown of margins are: If a products costs $1 to produce, that product will retail for $4. That product that retails for $4 will wholesale for $2 to suppliers and stores that purchase direct. Big box retailers like Walmart may offer to pay $1.25 to the manufacturer if the product costs $1 to produce. That is the typical profit margin.
3. Determine if the supplier is the right one for your product.) The relationship between you and the supplier starts with you browsing the store’s that they service for competing products. If the stores already has a similar product, it is going to be very difficult to get your product picked up. Picture in which zone your product would best fit on the shelf and keep in mind that the most precious asset that these big box stores value are their shelf space. Keep this information in mind when you are preparing your presentation to the supplier.
4. Pitch your product.) Decide whether it will be you or a representative to present your product to the supplier. Your presentation depends heavily on your strengths as a businessperson as they will most likely ask financial questions and logistics questions.
It’s common for companies to hire a broker to pitch their product to a supplier, as it will be more likely that your product will make it to the next stage if the individual pitching your product has industry knowledge or a personal relationship with them. The percentage of commission verses, however generally a broker will take around 5% to represent your product.
We at Mr. Checkout have experience dealing with brokers and know that there are several retail brokers that have poor business practices that can potentially damage your brand. If you are seeking a legitimate broker, please give us a call for a recommendation. It could save you a huge headache and a lot of money.
5. Complete the required paperwork.) Often a supplier will have you go through an application process. However, before submitting the paperwork required, you should contact them and let them know your intentions. Having a contact inside of the company will potentially move your application more smoothly through the process.
6. Anticipate the need for increased volume.) Having a supplier pick up your line will most likely mean a significant increase in volume. You should be prepared to ramp up your production and informing your manufacturer of this opportunity.
Having production, logistics and supply to sync is not only difficult, it requires a significant amount of time invested in customer relations. Also, suppliers may have stipulations in the contract that may penalize you for delays in shipping and production. Have an attorney explain all contracts to you if you don’t understand the terms.
If you’re looking to distribute your product through a supplier, be sure to thoroughly assess the marketplace, carefully prepare for production growth, and take full advantage of resources available to help you grow your business.