Busting 4 Myths About Wholesale Jewelry

Until you become an insider you aren’t aware of the ins and outs of the wholesale industry. Although breaking big as a bulk seller can take a while, it is a lucrative business. Indian wedding accessories wholesalers are either tier 1 or tier 2 providers in the supply chain. Being at the top of the hierarchy gives them an upper hand over the retailers. Jewelry sector is vast, the products are manufactured and sold in a plethora of materials. Finding a niche which is not saturated by kundan jewellery wholesale suppliers can land huge profits in your lap. If you get your market research right, you can have a lion’s share of sales. 

Here are 4 myths which shouldn’t hold you back from starting your wholesale business -

1. Limited Selection - One of the key misbeliefs which stop people from taking the leap is loss of sale. Retailers who aspire to become wholesalers think based on past experiences. There is a growing myth that  Indian wedding accessories wholesalers hold a smaller collection because they order all their jewelry from the same manufacturer. The wholesalers have ties to several suppliers, often maintain a huge variety to entice their regular customers. With the changing demands of customers, they have to update their selection. Further, wholesalers have an endless list of buyers. Each of jewelry stores has a  distinct persona and serves to a group of customers with different taste. To engage the retailers and continue making business deals the wholesaler are bound to function on diversity.

2. Delays in Orders -  Wholesalers only deliver bulk orders, so their inventory gets used up more quickly and you can’t order the same product repeatedly. None of these statements is true. In fact, wholesalers promote schemes to turn new customers into regular ones for recurring sales. A wholesale deal is never done without a sales agreement. Once the sellers commit to deliver an order on the mentioned day, they have to follow the agreement. Breaking it can have severe consequences on their business and ruin their image in the market. To make a considerable amount of money they have to take orders from a large group of retailers and deliver them on time.

3. Middlemen - The fear of losing a large percentage of the profit to the middleman is prevalent. But, wholesalers don’t buy the inventory from middlemen. The products are supplied by the manufacturer or tier 1 Kundan jewellery wholesale suppliers. Thus, you aren’t sharing the profit margins with anyone else. However, many middlemen are imposters who try to sell jewelry as suppliers.

4. Wholesaling is Only Done Online - eBay, and Alibaba has earned a name for being the best portals for finding wholesale deals. Wholesalers are constantly being pushed to go online. Only approx 10 % of the retailers buy jewelry online which means there is a scope to sell your wholesale jewelry to the local stores. You don’t have to take the fuzz to shift your business online after you transition to wholesaling. When you have reached a certain threshold and have the resources to set up an eCommerce site or list your products on other portals you can start with e-tailing too.