One of the closeout products
that I have had success with in my
closeout business is fashion jewelry.
To clarify, there are many subcategories
within this category, so
keep in mind that I have sold
both brand name and private label
You need to consider your customers
so that you determine if they
are in the market for Lucky Brand men's
watches or private label earrings.
Fashion jewelry appeals to men and women
for many reasons. People will buy
fashion jewelry to gain a more professional
appearance at work, to look more
elegant at a social gathering, or
to simply enjoy themselves by
adorning their outfits and themselves
with an attractive piece of jewelry.
There are also many other criteria
that shoppers will consider, such
as religious restrictions, conservative
style preferences, materials, and colors.
You will want to delve into your
market to determine what kind
of fashion items are appropriate
and suitable for your clientele.
I am sure that you can
see that a boutique in Lagos catering
to bankers will need a different
fashion product selection
than a boutique in NYC catering to
high school students.
It's important to understand specifically
why your customers purchase fashion jewelry,
since your marketing and product selection
will be guided by those reasons. I am a
firm believer in having wholesale products
that your customers want, instead of simply
buying merchandise and then figuring out
how to sell it.
I would like to give you
5 insider tips that have helped
me successfully purchase and sell
fashion jewelry, also known as
costume jewelry, many times over
Wholesale Fashion Jewelry Insider Tip#1
Know the reasons why your customers
purchase their jewelry. If your customer
is looking for a fancy pin to compliment
her Tahari office suit she will want
a certain style, while a customer that
is looking to purchase a necklace for
her teenager daughter will be looking for
One option is to carry a wide range of
styles and different items, such as
earrings, necklaces, bracelets, pendants,
studs, etc., this way you have a better
chance of having the items that your
customers are looking for.
This approach is fine, but you might end
up with items that your customers
might not want to purchase.
On the other hand, if you purchase the
jewelry at a low enough wholesale price
then it can make sense to purchase
an assorted closeout lot, since your
wholesale price per unit will
be substantially lower.
Both approaches can work
provided that the majority of
the jewelry consists of items
that your customers are interested
Wholesale Fashion Jewelry Insider Tip#2
Know the budget of your customers.
It's one thing for your customers to want
really high end gold necklaces, it's another
thing for them to have the budget to purchase them.
I know this sounds blunt, but it's important
that you know this. You might be able to get
a super low wholesale price on a costume
jewelry lot, but the bottom line is whether
your clients can afford to purchase the pieces
On the other hand don't make any assumptions
without speaking to your customers
and studying your market.
Everyone makes their own decisions on how to allocate
their budgets. Some people might
allocate more money towards jewelry purchases
than to clothing, so ultimately you need to
know how much your customers will be
willing to spend on a necklace or bracelet.
Wholesale Fashion Jewelry Insider Tip#3
How the jewelry is displayed is a crucial
factor in how good your sales will be.
I would like to share with you a secret
that I have personally observed.
The jewelry being sold by many clothing
store chains is often almost identical to
the jewelry being sold by discount retailers.
And the reason is because often they are
all purchasing the jewelry from the same
type of sources, whether it's a factory
in China, a licensed distributor in New York,
or another jewelry wholesaler.
But the clothing store chains get to charge more
for the same type of jewelry since they
display it in a super high end manner
that is enhanced by the decor and merchandise
that their stores have.
What this means is that you can increase your
sales price and sell more merchandise
by displaying it in a very elegant and professional manner.
If you are selling jewelry in your store you
should be treating it as if you are selling
high end art that belongs in a museum.
If you are selling jewelry online then you
should have professional pictures taken
framed by an appropriate background
that will encourage shoppers
to make a purchase.
Sure, you can take the easy approach
and simply leave it on your counter,
but then expect to sell it a slower
pace and at a lower price than if it
was displayed in a beautiful case.
Wholesale Fashion Jewelry Insider Tip#4
Market your fashion jewelry based on a theme
You can create an office selection,
a club selection, a school selection, and so on.
The idea is to put together a selection of different
pendants, earrings, necklaces, etc., that
can be used for a specific purpose.
You are adding value by providing
shoppers with a complete selection
for an important activity in their lives,
whether it's working or socializing.
Wholesale Fashion Jewelry Insider Tip#5
You need to develop a very descriptive vocabulary
that will help you to convey the
beauty of what you are offering.
Instead of just saying something like "I have really
nice necklaces", you can say something like
"I have really attractive contemporary necklaces
with sparkling charms that are eye catching
while still being appropriately conservative
for a corporate function".
As you can see, the second description
deeply illustrates the beauty of what
you are selling, while providing
shoppers with reasons for purchasing
I have seen very similar jewelry being
sold for up to 10 times the price
simply because one retailer did a
much better job of describing, displaying,
and marketing, her merchandise.