{"id":34632,"date":"2017-09-21T13:35:07","date_gmt":"2017-09-21T17:35:07","guid":{"rendered":"https:\/\/www.shapeways.com\/blog\/?p=34632"},"modified":"2022-05-04T22:30:12","modified_gmt":"2022-05-05T02:30:12","slug":"7-critical-steps-growing-profitable-jewelry-business-part-1-wholesalers-stockists","status":"publish","type":"post","link":"https:\/\/www.shapeways.com\/blog\/7-critical-steps-growing-profitable-jewelry-business-part-1-wholesalers-stockists","title":{"rendered":"7 Critical Steps to Growing a Profitable Jewelry Business, Part 1: Wholesalers + Stockists"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-34655\" src=\"https:\/\/www.shapeways.com\/blog\/wp-content\/uploads\/2017\/09\/jewelry_business_youtube_-_part_1-840x473.jpg\" alt=\"How to sell jewelry, jewelry selling online, selling your jewelry, jewelry making, small jewelry business, at home jewelry business, design your own jewelry, how to make money selling jewelry, starting a jewelry line, online jewelry business opportunities, how to start a jewelry business at home, outsourcing jewelry production, jewelry business startup, Jewelry Business, Wholesale, Jewelry wholesale, jewelry stockists, stockists, Profitable jewelry business, online shop, ecommerce, jewelry tutorial, Jewelry designer, designer business, jewelry line, how to start a jewelry business, beginners guide, business tutorial\" width=\"840\" height=\"473\" data-wp-pid=\"34655\" srcset=\"https:\/\/www.shapeways.com\/blog\/wp-content\/uploads\/2017\/09\/jewelry_business_youtube_-_part_1-840x473.jpg 840w, https:\/\/www.shapeways.com\/blog\/wp-content\/uploads\/2017\/09\/jewelry_business_youtube_-_part_1-420x236.jpg 420w, https:\/\/www.shapeways.com\/blog\/wp-content\/uploads\/2017\/09\/jewelry_business_youtube_-_part_1-768x432.jpg 768w, https:\/\/www.shapeways.com\/blog\/wp-content\/uploads\/2017\/09\/jewelry_business_youtube_-_part_1-1120x630.jpg 1120w, https:\/\/www.shapeways.com\/blog\/wp-content\/uploads\/2017\/09\/jewelry_business_youtube_-_part_1-800x450.jpg 800w, https:\/\/www.shapeways.com\/blog\/wp-content\/uploads\/2017\/09\/jewelry_business_youtube_-_part_1-400x225.jpg 400w, https:\/\/www.shapeways.com\/blog\/wp-content\/uploads\/2017\/09\/jewelry_business_youtube_-_part_1-300x169.jpg 300w, https:\/\/www.shapeways.com\/blog\/wp-content\/uploads\/2017\/09\/jewelry_business_youtube_-_part_1.jpg 1280w\" sizes=\"auto, (max-width: 840px) 100vw, 840px\" \/><\/p>\n<p><b>Getting Started with Wholesalers and Stockists<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Think of the first time you played Monopoly. There\u2019s a good chance you were quite young and had a pretty rudimentary understanding of the rules. You rolled the dice, made your way around the board with your thimble or Scotty dog, and collected your $200 reward. Maybe you went to jail and <\/span><i><span style=\"font-weight: 400;\">maybe<\/span><\/i><span style=\"font-weight: 400;\"> you even bought a house or two; likely, though, that was the extent of your experience. You were invested in the game, you spent time and energy, you wanted to win, but realistically, you were never really playing \u2013 just participating.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To really play a game, in the true sense of the word, you need to know the rules. Not only know the rules, but understand their intricacies well enough to strategize, plan, and execute on them. In this series for <\/span><a href=\"https:\/\/www.shapeways.com\/blog\/archives\/tag\/7-critical-steps-for-growing-a-profitable-jewelry-business?utm_campaign=jewelry_business_coaching_series&amp;utm_source=blog_post&amp;utm_medium=blog&amp;utm_term=jewelry&amp;utm_content=JBCSPart1_WS\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Growing a Profitable Jewelry Business<\/span><\/a><span style=\"font-weight: 400;\">, we are applying this principle to the retail jewelry industry.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While most jewelry business owners can envision the end goal of \u201cwinning,\u201d few of them can visualize the tangible steps to get to that point. During each of the 7 parts of the series, we\u2019ll be introducing essential rules of the jewelry game, walking through how to act on them tactically, and reinforcing best practices. As with any game, there is a factor of chance and luck, but we\u2019re hoping to give you enough resources to maximize your opportunity for success.<\/span><\/p>\n<p>In this first installment, we\u2019re making an introduction to the world of <b>wholesale<\/b>.<\/p>\n<p class=\"video-responsive\"><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/KutxxUk6NMc\" width=\"100%\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><b>Think bigger<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Most independent jewelry designers sell directly to those who will actually wear their product. Designers reach customers through marketplaces like <\/span><a href=\"https:\/\/www.shapeways.com\/marketplace\/jewelry?li=marketplace?utm_campaign=jewelry_business_coaching_series&amp;utm_source=blog_post&amp;utm_medium=blog&amp;utm_term=jewelry&amp;utm_content=JBCSPart1_WS\"><span style=\"font-weight: 400;\">Shapeways<\/span><\/a><span style=\"font-weight: 400;\"> or Etsy, on their own Shopify or Squarespace sites, in-person at trade fairs, or through a combination of efforts. While this business-to-consumer (B2C) approach no doubt has the potential for substantial revenue, for many, it can be slow-going. It requires a lot of upfront effort, targeting to the right customers, and can often yield a low return on investment. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you are serious about growing your jewelry business, your best route forward is to add a <\/span><b>wholesale channel<\/b><span style=\"font-weight: 400;\"> to your sales ecosystem. This business-to-business (B2B) model changes your customer from an individual to a wholesaler or stockist. <\/span><\/p>\n<p><b><i>Wholesaler<\/i><\/b> <span style=\"font-weight: 400;\">: a merchant middleman who sells to retailers. These retailers then typically sell that product to end customers. <\/span><\/p>\n<p><b><i>Stockist<\/i><\/b><b>:<\/b><span style=\"font-weight: 400;\"> Person or stores that sell a particular assortment of products. This assortment is generally made up of a varied brand mix aimed at addressing a niche audience, e.g. NET-A-PORTER or Urban Outfitters<\/span><\/p>\n<p><b>What Can Wholesale Do for My Business?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">While adding a new sales channel may seem like a lot of work, wholesale can be integral to augmenting your speed of growth and your ability to build brand equity. <\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">Larger Orders and Recurring Revenue<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">Acquiring these types of clients allows you to book larger sales at one time. Buyers are typically seeking to stock inventory for resale in their e-commerce or brick and mortar channels of business. This means larger budgets than your average consumer and more consistent need. With well managed relationships, you can establish larger one-time sales combined with more predictable and consistent recurring revenue streams for your business. A more stable cash flow is never a bad thing. <\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">Bulk and Volume Pricing Breaks<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">Since wholesale orders are typically in larger quantities, these can be a great opportunity to take advantage of \u00a0bulk and volume pricing breaks, such as <\/span><a href=\"https:\/\/www.shapeways.com\/blog\/archives\/31995-order-save-cast-metals.html?utm_campaign=jewelry_business_coaching_series&amp;utm_source=blog_post&amp;utm_medium=blog&amp;utm_term=jewelry&amp;utm_content=JBCSPart1_WS\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">those provided by Shapeways<\/span><\/a><span style=\"font-weight: 400;\">. We offer the following discounts on all of our <\/span><a href=\"https:\/\/www.shapeways.com\/materials?utm_campaign=jewelry_business_coaching_series&amp;utm_source=blog_post&amp;utm_medium=blog&amp;utm_term=jewelry&amp;utm_content=JBCSPart1_WS\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">cast metals<\/span><\/a><span style=\"font-weight: 400;\"> except pure gold and platinum:<\/span><\/p>\n<p><b>Order Size \u00a0| \u00a0Discount<\/b><\/p>\n<p><span style=\"font-weight: 400;\">26 \u2013 50 \u00a0| \u00a05% off<\/span><\/p>\n<p><span style=\"font-weight: 400;\">51 \u2013 100 \u00a0| \u00a010% off<\/span><\/p>\n<p><span style=\"font-weight: 400;\">101+ \u00a0| \u00a015% off<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These discounts can lead to higher gross margins for you and can allow you to incentivize customers or stockists with discounted prices as well. We\u2019ll go into greater depth on pricing strategy in a future installment of the series.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">Increased Brand Exposure<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">By being strategic with the wholesalers and stockists you target, your brand is able to gain exposure in new customers and geographies, beyond your individual reach. Partnering with the right stores can also associate your product with more popular brands, providing the opportunity to improve brand recognition and brand positioning. <\/span><\/p>\n<p><b>Choosing the Right Stockists for Your Brand<\/b><\/p>\n<p><span style=\"font-weight: 400;\">While there are countless jewelry wholesalers and stockists, considered targeting is a key part of both a success outreach campaign and effective brand building. <\/span><b>Brand fit, customer fit, and price fit<\/b><span style=\"font-weight: 400;\"> are at the core of these considerations. <\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">Brand Fit<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">For a young company, any association shapes how people perceive and categorize your brand. Resellers are a direct association that can have a huge impact on brand perception; many times, they create an individual\u2019s first experience with the brand. For that reason, brand fit is arguably the most important consideration in finding a stockist or wholesaler. A good stockist fit can reinforce your brand message and provide clout to your brand\u2019s name; conversely, a bad stockist fit can devalue or convolute your product and brand identity to consumers. \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some key considerations to keep in mind when evaluating brand fit are:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Consistent or complementary aesthetic with your visual direction<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Stocking of analogous brands\/products that your target customer would seek out<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Business core values, mission, and brand association that are in-line with your brand<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Co-branding opportunities between your brand and the stockist, e.g. J. Crew x Your Brand<\/span><\/li>\n<\/ul>\n<p><i><span style=\"font-weight: 400;\">Customer Fit<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">Customer fit goes hand-in-hand with brand fit. The customer purchasing from your stockist should be the customer that you\u2019re targeting for your own brand. Consider both the demographics and psychographics of the person you envision purchasing your products and consider the customer base associated with each stockist. Explore resellers\u2019 social media pages (Instagram, Facebook, etc.) and followers . If possible, even go to their physical locations to get a sense of their customer base.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">Price Fit<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">Keep in mind the retail price point for your products and evaluate how your prices compare with similar product categories at the retailers you\u2019re considering. This will often be a deciding factor in whether a stockist will consider you and also whether your product will actually move. Price fit also plays into brand consistency, as surrounding your product with significantly cheaper product can decrease its perceived value and cheapen your brand.<\/span><\/p>\n<p><b>How to Find Stockists<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Once you have an idea of the <\/span><i><span style=\"font-weight: 400;\">type <\/span><\/i><span style=\"font-weight: 400;\">of stockist you want to target, the next step is to actually put together your initial outreach list. We typically recommend starting with about 10-15 stockists to start. The most useful tool for finding stockists is probably already at your fingertips: Instagram. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The app\u2019s discovery algorithm is designed to aggregate similar content and similar users, so it is ideal for searching for stockists that fit into a similar profile. Start by searching for specific stockists that you may already have in mind and use the suggested accounts drop down on the user page to find more accounts like it (see image below as an example).<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-34638 size-medium\" title=\"How to sell jewelry, jewelry selling online, selling your jewelry, jewelry making, small jewelry business, at home jewelry business, design your own jewelry, how to make money selling jewelry, starting a jewelry line, online jewelry business opportunities, how to start a jewelry business at home, outsourcing jewelry production, jewelry business startup, Jewelry Business, Wholesale, Jewelry wholesale, jewelry stockists, stockists, Profitable jewelry business, online shop, ecommerce, jewelry tutorial, Jewelry designer, designer business, jewelry line, how to start a jewelry business, beginners guide, business tutorial\" src=\"https:\/\/www.shapeways.com\/blog\/wp-content\/uploads\/2017\/09\/Instagram-Suggestions-840x540.png\" alt=\"How to sell jewelry, jewelry selling online, selling your jewelry, jewelry making, small jewelry business, at home jewelry business, design your own jewelry, how to make money selling jewelry, starting a jewelry line, online jewelry business opportunities, how to start a jewelry business at home, outsourcing jewelry production, jewelry business startup, Jewelry Business, Wholesale, Jewelry wholesale, jewelry stockists, stockists, Profitable jewelry business, online shop, ecommerce, jewelry tutorial, Jewelry designer, designer business, jewelry line, how to start a jewelry business, beginners guide, business tutorial\" width=\"840\" height=\"540\" data-wp-pid=\"34638\" srcset=\"https:\/\/www.shapeways.com\/blog\/wp-content\/uploads\/2017\/09\/Instagram-Suggestions-840x540.png 840w, https:\/\/www.shapeways.com\/blog\/wp-content\/uploads\/2017\/09\/Instagram-Suggestions-420x270.png 420w, https:\/\/www.shapeways.com\/blog\/wp-content\/uploads\/2017\/09\/Instagram-Suggestions-768x494.png 768w, https:\/\/www.shapeways.com\/blog\/wp-content\/uploads\/2017\/09\/Instagram-Suggestions-1120x720.png 1120w, https:\/\/www.shapeways.com\/blog\/wp-content\/uploads\/2017\/09\/Instagram-Suggestions-800x514.png 800w, https:\/\/www.shapeways.com\/blog\/wp-content\/uploads\/2017\/09\/Instagram-Suggestions-400x257.png 400w, https:\/\/www.shapeways.com\/blog\/wp-content\/uploads\/2017\/09\/Instagram-Suggestions-300x193.png 300w, https:\/\/www.shapeways.com\/blog\/wp-content\/uploads\/2017\/09\/Instagram-Suggestions.png 1249w\" sizes=\"auto, (max-width: 840px) 100vw, 840px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Repeat this process and you can quickly come up with a list of potential targets. If you\u2019re having trouble getting started, try searching for hashtags that match your product type or aesthetic. It takes some playing around, but once you find your niche, you can fairly quickly generate the list. For getting access to contact information, use a combination of the companies\u2019 websites, Google Maps, and Facebook business pages (great for locating phone numbers), and you can gather the basic information necessary to reach out. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Trade shows can be an alternative approach to expose your brand to many stockists at once, but we\u2019ll cover this more in-depth in a future installment. \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Stay tuned for the next part of our series, where we\u2019ll discuss the components of price and an intro to strategic pricing.<\/span><\/p>\n<p style=\"text-align: center;\">\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.shapeways.com\/for-business?utm_campaign=jewelry_business_coaching_series&amp;utm_source=blog_post&amp;utm_medium=blog&amp;utm_term=jewelry&amp;utm_content=JBCSPart1_WS\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Contact us<\/span><\/a>\u00a0<strong>if you have any questions on growing your jewelry business or have a bulk order that you\u2019d like to scope out.<\/strong><\/p>\n<p><i><span style=\"font-weight: 400;\">About the authors:<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">Ross Keong is a Strategic Sales Manager specializing in growth development for B2B users in the industries of jewelry, fashion, art, and design.<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">Virginia Gordon is the US Jewelry Community Manager, helping designers build a successful jewelry business using Shapeways and 3D printing<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Getting Started with Wholesalers and Stockists Think of the first time you played Monopoly. There\u2019s a good chance you were&#8230;<\/p>\n","protected":false},"author":129,"featured_media":34655,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[510],"tags":[821,2006,2011,2004,2005,1779,2012,2001,1998,2013,2007,2003,2016,490,1992,1991,2018,2000,2002,1940,2008,1995,1999,1994,2015,723,2017,1997,2009,815,720,2010,2014,1996,724,1993],"class_list":["post-34632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-3d-printing-industry","tag-3d-printed-jewelry","tag-7-critical-steps-to-growing-a-profitable-jewelry-business","tag-at-home-jewelry-business","tag-beginners-guide","tag-business-tutorial","tag-cast-metal","tag-design-your-own-jewelry","tag-designer-business","tag-ecommerce","tag-how-to-make-money-selling-jewelry","tag-how-to-sell-jewelry","tag-how-to-start-a-jewelry-business","tag-how-to-start-a-jewelry-business-at-home","tag-jewelry","tag-jewelry-business","tag-jewelry-business-coaching-series","tag-jewelry-business-startup","tag-jewelry-designer","tag-jewelry-line","tag-jewelry-making","tag-jewelry-selling-online","tag-jewelry-stockists","tag-jewelry-tutorial","tag-jewelry-wholesale","tag-online-jewelry-business-opportunities","tag-online-shop","tag-outsourcing-jewelry-production","tag-profitable-jewelry-business","tag-selling-your-jewelry","tag-shop-owner","tag-sls","tag-small-jewelry-business","tag-starting-a-jewelry-line","tag-stockists","tag-strong-and-flexible","tag-wholesale"],"thumbnail":"https:\/\/www.shapeways.com\/blog\/wp-content\/uploads\/2017\/09\/jewelry_business_youtube_-_part_1.jpg","yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.9 (Yoast SEO v23.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>7 Critical Steps to Growing a Profitable Jewelry Business, Part 1: Wholesalers + Stockists - Shapeways Blog<\/title>\n<meta name=\"description\" content=\"Getting Started with Wholesalers and Stockists Think of the first time you played Monopoly. 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