Here are the top reasons why you should consider dropshipping jewelry instead of buying wholesale.
Dropshipping jewelry is a type of retail fulfillment method for jewelry businesses where a shop does not keep a stock of its products. Instead, the shop owner purchases inventory just as needed from a third party, usually a wholesale fashion jewelry seller or manufacturer.
How does dropshipping work?
To understand this fulfillment process, we divided it into five steps:
Step 1: A customer places an order with a dropshipping retail jewelry store.
Step 2: The store processes the order and sends the details to the wholesaler providing dropshipping services.
Step 3:The wholesaler acknowledges the store's order.
Step 4: The wholesaler ships the order to the customer.
Step 5:The customer receives the order.
In a way, the jewelry shop becomes the middleman. It will only be in charge of the marketing and advertising side of the business and not the shipping and returns department.
This fulfillment method is increasing in popularity, especially with the rise of jewelry shops online. But is it worth considering?
Quite frankly, we believe it is. Here are the 7 benefits of dropshipping products for your jewelry business today:
- Low startup costs
- Ability to scale up quickly
- No dead stock risk
- No risk of getting damaged pieces
- Up to date with the latest fashion trends
- More product opportunities
- Business flexibility
#1 Low startup costs
Jewelry businesses that dropship items do not have to invest in relatively large capital for inventory and provide storage. Dropshipping allows shops to only spend money once a customer orders, making it perfect for starting businesses with limited budgets. You can also begin a retail jewelry business even if you do not have a large amount of money.
#2 Ability to scale up quickly
A starting jewelry business will be able to scale quickly because the fulfillment of orders is not dependent on the size of a physical shop or the number of staff members needed to ship out an order. Because of this, dropshipping can significantly benefit jewelry retailers that experience fluctuating sales that may be due to seasonal factors or the change in consumer behavior.
#3 No dead stock risk
With dropshipping, your business will not have to resort to selling discount products just to free up space in your inventory. The wholesaler you are partnering with will take care of the dead stock for you. There is no need to de-list a jewelry item when it becomes unpopular among your customers and no clearance sales to get rid of slow-moving items.
#4 No risk of getting damaged pieces
Jewelry pieces are fragile and delicate, especially ones that have crystal accents in them. Dropshipping prevents broken stock on your part. You don’t have to worry about broken locks, missing stones, or twisted bracelets and necklaces. We all know that that damaged jewelry becomes dead stock and not sellable in any way, so if this happens all the time with your previous fulfillment method, switch to dropshipping.
#5 Up to date with the latest fashion trends
Fashion trends can sometimes be unpredictable. A particular style may suddenly be out of fashion after a month or two. If you buy your inventory in bulk, this is going to be a problem if you are not able to sell all of them off. With dropshipping, you can immediately offer new styles without having to worry about out-of-fashion items. You can create a wide selection of on-trend jewelry and continually add new designs that can keep your customers coming back to your shop for more.
#6 More product opportunities
As with being able to offer the latest styles, dropshipping also provides more product opportunities for your business. Say you are exclusively selling fashion rings. If you decide to add more items like earrings and bracelets, it will not be a problem. You can test which items are a hit among your customers, and if they are not, you can easily de-list them on your website without having to worry about excess inventory.
#7 Business flexibility
And finally, and probably the most important benefit of dropshipping is allowing a business to be flexible. A jewelry business can be flexible in many aspects -- it can operate virtually anywhere, offer different kinds of jewelry items, cater to basically everybody who loves jewelry, and it can quickly change its product offerings if the target market’s shopping behavior changes.
Dropshipping indeed is a very beneficial fulfillment method for jewelry businesses today. Aside from the advantages above, dropshipping can also relieve you of the burden of returns, as the wholesaler will take care of that. In addition, the wholesaler will also take care of hygiene issues, which is very important at this time due to the health crisis.
Business-minded people can now start their own retail jewelry business with the help of dropshipping. They just need to find a trusted wholesale fashion jewelry supplier that offers an extensive range of jewelry products that you can choose from.
CeriJewelry offers a dropship program for aspiring online jewelry business owners. Call us at 1-626-810-3283 to know more.