| Something in the human spirit is always itching for | | | | major retailers like fine department stores are |
| independence and this itch translates to a | | | | always struggling to get right. Stroll through one |
| constant flow of new entrepreneurs that so | | | | and you will see they have reduced staff on the |
| often gravitate towards fashion jewelry. What is | | | | floor so selection often has to sell itself. The fine |
| so irresistible about this accessory? Beyond the | | | | department stores need "no miss" choices and |
| high profit margins that wholesale fashion jewelry | | | | have resources, forecasts, statistics, and trained |
| can open for retailers lies an intrinsic beauty that | | | | buyers to make these decisions. Small retailers |
| creates truly wearable art. Yes, wholesale fashion | | | | don't need to be discouraged because this isn't |
| jewelry offers plenty of profit potential that | | | | rocket science and you are closer to the clientele |
| enables retailers to turn small investments into the | | | | in your location than any major retailer. |
| longest mark-up in the fashion industry, but the | | | | Making the perfect selection rests on the age and |
| magic of fashion jewelry's beauty stops | | | | demographics of your main customer base. Add |
| consumers in their tracks and this magnetic | | | | this to the fashion trends of the season and you |
| attraction, more than anything else, brings the | | | | are close to perfect. How do you keep up with all |
| entrepreneur into retail sales specializing in jewelry. | | | | those rapid changing fashion trends? Well rapid |
| Many of these new fashion jewelry businesses | | | | change is a myth. Trends change very |
| begin on the simplest level with retailers buying | | | | slowly-often over a decade. Yes, colors and subtle |
| wholesale fashion jewelry and presenting it to | | | | adjustments occur every season, but today we |
| friends and co-workers. Easy sales and new found | | | | are in the midst of classic trends that started in |
| profits ignite a fire to grow the business, but what | | | | the early 21st century and have a promising |
| step comes next? As a twenty-five year veteran | | | | future. More on this when we cover knowledge. |
| of the wholesale fashion jewelry industry, I have | | | | -Now for presentation-making the fashion jewelry |
| seen business after business start in this way and | | | | look special. Ever notice how necklaces clumped |
| often grow to become the major supplier of | | | | together on a tee bar on top of a showcase |
| fashion accessories in a community. The learning | | | | seem to scream "I'm on sale" while the stuff in |
| curve never ends as fashion jewelry evolves as | | | | the showcase whispers "I'm special". That's |
| well as retail tactics, but some things never | | | | presentation and how it has changed even for |
| change and these key techniques will have | | | | fine department stores. |
| positive impact on your fashion jewelry business. | | | | Teri Agins in The End of Fashion details how |
| But first, how are you going to sell your treasure | | | | department stores that were once "the first |
| of wholesale fashion jewelry? Outgoing | | | | visual contact with fashion" and "introduced |
| personalities love the active sale. Visit businesses, | | | | merchandise concepts to customers" changed in |
| do parties, set up in flea markets or craft shows, | | | | the late 20th century to a collection of brands. |
| and bubble over with enthusiasm as you introduce | | | | Agins quotes one upscale shopper who "was |
| stunning fashion jewelry to consumers. All they | | | | appalled when she discovered $19.99 Nine West |
| need is a crowd and permission to set up. Bingos, | | | | shoes displayed right next to $350 Chanels" in her |
| festivals, school picnics, car shows, sporting | | | | favorite department store that was compromising |
| events-the list is endless. Overhead is low and | | | | its image of elite fashion. Make an item look |
| actually stops when not engaged in sales activities. | | | | special and it takes on the perception of higher |
| But so does sales, so many prefer brick and | | | | value. |
| mortar businesses with a higher overhead, but | | | | -Next comes knowledge that is worth more than |
| continuing business even when you're not there. | | | | price. Don't believe it? Think of items you bought |
| The quieter, methodical personality may not be up | | | | because the sales person impressed you with a |
| to this bubbling enthusiasm and choose a passive | | | | deep understanding of the product. That was |
| sales mode. Successful businesses often build | | | | worth more than price. I personally experienced |
| without the entrepreneur ever engaged in active | | | | this lesson when I did a trade show with a |
| sales to the consumer. They connect with beauty | | | | colleague. I told my customers the fashion |
| shops and other locations to provide fashion | | | | jewelry was a real value at the price. His sales |
| jewelry on consignment with the owner profiting | | | | person painted a word picture of the wholesale |
| as well as the entrepreneur. Methodical | | | | fashion jewelry with the season's apparel and |
| personalities think out the details like how to | | | | wrote more orders without the customers even |
| handle shrinkage of missing items with no sales | | | | knowing the price. |
| recorded. Increasing price and lowering | | | | Knowledge is knowing the trends and knowing the |
| consignment fees compensates for losses when | | | | item. Consumers trust a well-informed source and |
| fashion jewelry has open exposure that can result | | | | when you know what is today's style and why it |
| in more shrinkage. The flip side is reduced sales in | | | | looks right on the customer, you remove the |
| secure environments like showcases or behind the | | | | burden of choice from the buyer. |
| counter, which reduce shrinkage, but | | | | Knowledge today goes deeper because classic |
| unfortunately, also sales. | | | | trends in fashion jewelry bring gemstone |
| Okay, both personalities have a selling method | | | | components, shell, Murano style glass, Millefiore, |
| they are comfortable with and both can expand | | | | and more to jewelry designs. A story is worth |
| their business with online marketing by working on | | | | volumes in explaining glass jewelry and knowledge |
| websites while their sales support them as the | | | | of gemstones that removes the doubt about |
| websites grow, climbing higher in the results of | | | | whether it is real. Don't be overwhelmed about |
| major search engines. But what about the 5 | | | | understanding the trends and knowledge of |
| shortcuts to retail success? They boil down to | | | | today's components because everything is |
| pricing, selection, presentation, knowledge, and | | | | detailed in a report, Wholesale Fashion |
| benefits. | | | | Jewelry-The Magic of Trends (find a link to the |
| -First comes pricing the wholesale fashion jewelry. | | | | report at the foot of this article). |
| New entrepreneurs often feel shock waves as | | | | -Finally there are benefits. Think of benefits as |
| they see the wholesale cost compared to retail | | | | vision-what the customer envisions. Anyone that |
| prices they paid as consumers. The first | | | | buys fashion jewelry wants to make a positive |
| temptation is undercut all the competition. Stop | | | | statement. They want a look that is flattering and |
| there!-because fashion jewelry is cyclical and low | | | | appropriate. So like the car commercial running on |
| prices generate low profits that don't carry | | | | the radio, features describe the details like length, |
| retailers through the tough times. Do you want to | | | | color, texture, and shape while benefits say |
| spend all your earnings on restocking wholesale | | | | "matches apparel while complementing your |
| fashion jewelry and covering overhead? Of | | | | complexion", "draws attention to your slender |
| course not, you want to grow your business and | | | | neck", or "creates a youthful look that is so you". |
| make a profit and pricing is important. | | | | The old adage of sell the sizzle, not the steak, |
| Retail uses a term called keystone-a nice word | | | | gets to the point. Pick the right item for the |
| for doubling the wholesale price. Make keystone | | | | customer, be sincere, and sell the sizzle. |
| the minimum for mark-up in fashion jewelry and | | | | Will all this work in a slowing economy? Absolutely! |
| look for the items that give you room for far | | | | In worrisome times women appreciate an escape |
| longer mark-ups. The upside has no rules. Let | | | | valve of some small new purchase. What fulfills |
| your intuition guide you because prices can always | | | | this better than fashion jewelry? Apply the five |
| come down, but it is difficult to go up. | | | | shortcuts and lift your customers' spirits with a |
| -Next comes selection and this is a factor that | | | | feel-good experience. |