Are you a boutique or shop owner and are thinking about going down the route of also selling jewellery?
If you’re unsure how to get started, then give this a read for some useful tips and essential advice to help increase your revenue and give your business a boost over competitors.
How to source the jewellery from suppliers
To kick off your jewellery selling journey you’ll need to choose a supplier. With so many options out there, it can be difficult to know where to start.
Trade shows are one of the best ways to browse some of the newest collections of jewellery that would perfectly suit your store. They offer the opportunity to see a variety of products first-hand, rather than just online. A few of the best trade shows include Goldsmith’s Fair, London Jewellery Week and Origin. Tickets to these shows are usually cheap, or even free, and are a great way to get in the loop.
The list of online jewellery suppliers is always growing - and you may not know where to start. Always request a sample from the seller to ensure that the product fits your boutique’s style.
Getting all your stock from one supplier
You may think that stocking jewellery from another whole seller may be hassle, especially if you’re already dealing with a long list of suppliers on your books.
A good way to save time, money and effort is to find a wholesaler which stocks clothes, jewellery, bags, or anything else to stock in your boutique. It makes your life a lot simpler. Adding jewellery to your store needn’t be difficult.
Chance for increased revenue through upselling
Selling jewellery can be a great way to boost your revenue as it allows you to upsell. Upselling is when you suggest your customer increase their purchase by either adding additional items or shifting to a more premium version of their original choice. You’ve already done the hardest part - done the big sell of clothing - now it’s a way to add another reason why they should spend money in your store.
Do you already sell bags? Clothes? Shoes? Then adding accessories to your stocklist is a great way to attract even more business. It’s another opportunity to increase your profit margin effortlessly. According to the 2018 Infusionsoft Small Business Marketing Trends Report, 75% of small businesses missing the opportunities that lie in their existing customer base.
If your customer is about to buy their outfit for an event, and are about to look elsewhere for accessories, then this is the perfect time to show them your jewellery which will complete the outfit. (Make sure to do this subtly. Maybe let the customer try on a few pieces. And don’t forget to tell them how good they look).
Buying only ethical jewellery
Ethical fashion and jewellery is a very talked-about topic right now. If you’re thinking about selling jewellery in your boutique - you can check that it’s from sustainable sources.
‘Ethical jewellery’ focuses mainly on three things: treatment of the workers, effect on local communities and environmental impact of the mines. It’s a good idea to check your supplier stocks ethical jewellery - it’s also a really good selling-point for your customers.
Without a doubt, adding jewellery to your stock could add great value to your business and customers.
Author: Sarah Tempest, chief designer at Tempest Designs
Photos: Pexels
