Don’t let a small budget stop you from running your shop. Here are some tips to help grow your jewelry business.
Selling fashion jewelry, whether online or in a pop-up store, can be a profitable business, but it can also be challenging if you have a low budget and just starting out. However, with the right strategies, you can effectively market and sell your jewelry products without burning a hole in your pockets.
In this article, we'll share five tips for selling fashion jewelry for jewelry businesses on a low budget.
- Research your target market.
- Look for a legit wholesale jewelry supplier.
- Take high-quality product photos.
- Consider running promotions.
- Leverage social media.
#1 Research your target market.
Research is very crucial. Knowing your target audience and understanding what designs they like and dislike will allow you to invest in the right wholesale fashion jewelry pieces. You need to know their specific tastes, preferences, and their budgets as well.
This strategy will require you to conduct some surveys, and you can do this for free by posting polls on various social media sites. For example, you can post on Instagram Stories and use the Poll sticker. You can also conduct research in online forums or communities about jewelry and fashion to gain insights into your target customers.
#2 Look for a legit wholesale jewelry supplier.
Now that you know what your target customers want to see in your shop, it’s time to start shopping for your inventory. There are many wholesale jewelry suppliers today, and you can fill your inventory without the need to leave the house or office. However, not all of these suppliers may be legitimate businesses. So, be careful in dealing with such companies. Do the proper research, read reviews, and make sure they have complete contact information on their website.
Another tip to determine whether the jewelry wholesaler is a legitimate business is to check their social media accounts. Read comments on posts and reviews if they have.
#3 Take high-quality product photos.
Once your wholesale jewelry orders arrive, the next step is to take photos of each to upload on your website or social media accounts. And when it comes to selling jewelry, product images are an essential part of marketing. They will need to look attractive enough to encourage people to purchase – otherwise, shoppers will look elsewhere.
Thankfully, you won’t need to hire a professional photographer for these photos. All you need is your smartphone and some good lighting to capture crisp images. Consider wearing them as well to give people an idea of what they look like when worn.
#4 Consider running promotions.
Even when you’ve just started your jewelry business, promotions make an effective strategy to lure customers to your business. You don’t need to set aside a huge budget for this – a simple freebie like a jewelry pouch or ring box with every purchase of a certain total amount will do. Because of this, shoppers will be encouraged to add more items to their orders to get the freebie.
One promotion that will not require you to spend is an e-book on some valuable information about jewelry, with specific topics ranging from how to clean jewelry, the best ways to style a particular piece, how to fix a broken necklace chain, and other style guides. You can also use these e-books to encourage visitors to sign up on your website to build your email list.
#5 Leverage social media.
Social media is, without a doubt, a powerful tool that you can use for your jewelry business to reach a wider audience without spending anything. You can create a dedicated business page on Instagram and Facebook and regularly post about your products and current promotions. Post a variety of content types like video, image, and text, and be sure to interact with your followers via comments and direct messages.
If you have an extra budget, consider running and testing social media ads to boost exposure. Collaborating with small-time social media influencers will do too, and pick ones that are located in your area to increase the chances of increasing your local customer base.
Selling fashion jewelry on a low budget requires the right strategy, creativity, and hard work. By knowing your target audience, investing in the right wholesale fashion jewelry, taking high-quality images, offering promotions, and building your social media presence, you can effectively sell your jewelry, turn first-time buyers into loyal customers, and thrive even in economic crises.
For more jewelry business tips such as these, browse hundreds of blog articles on our blog site. If you need to fill your inventory with new fashion jewelry pieces, browse our extensive jewelry catalog at CeriJewelry.com, a legit online jewelry wholesaler based in Pasadena, California.