Last year, over 29 million individuals bought jewelry online each day. Purchasing and selling pieces of jewelry online can be very profitable. With statistics such as these, however, competition is massive. Worry not, we are here to give you guidance on getting started with this endeavor. To know more about online business matters, you can check out mrktonline.com in your spare time.
Why Sell Pieces of Jewelry Online
You may know that the best marketplace to sell online in the US, especially, is Amazon. However, do you know that jewelry is among the best types of products to sell online, especially through a marketplace website like that? With jewelry business being a big marketplace in and of itself, why not have a piece of the pie. Jewelry is one of the consumer products, so it has no limits when it comes to salability. Jewelry attracts women and men of any culture or age. This fact gives you the seller a sense of assurance that you will have always have buyers.
Jewelry is very diverse too. You can offer many different types of rings, anklets, bracelets, necklaces, to name some pieces. Each of the said jewelry items can comprise different elements like diamonds, gold, other gemstones, beads, shells, and so forth.
For every single unique piece of jewelry comes a one of a kind design. Jewelry is such a diverse product that it is enough to make your head spin. Just the setting elements to tie jewelry together are diverse. If such small things are diverse, then there should not be any problem getting unique jewelry pieces to put for sale.
How to Fix Your Jewelry’s Price
Pricing is among the toughest calls you will need to take. A general rule to follow is to set a basic price that is four times the cost of material and packaging.
Most wholesale or consignment opportunities take up around 60% of the retail cost. Set the base rate at four times your raw materials’ cost, and then you can avoid losing money.
Consider whether to charge your customers for product shipping or not. If that is the case, do not forget to include the amount of money it will cost customers before they leave their shopping cart.
The other things to consider are as follows.
- Whether to accept product returns
- Whether to provide refunds
- What to do when a jewelry item breaks before customer receives it
Just have a plan B for unusual accidents, and you will be fine to sell.