In selling wholesale custom jewellery online, there has to be an understanding of the industry, an assurance of digital presence, and strategic partnership-building. Over the past years, the global jewellery market has grown 5% annually, reaching an estimated $230 billion in 2023. Such growth represents an increased demand for personalized and superior-quality jewellery, especially via online retail channels. Wholesale custom jewelry needs to be effectively sold through e-commerce platforms such as Shopify, WooCommerce, or BigCommerce, among others, which host over 5 million online stores across the world.
Major strategies for beating the competition largely include creating a really impressive website, easy website navigation, and professional photography of your jewelry. Such high-quality images often come with 360-degree views and zoom features, which can increase conversion as high as 40%, according to e-commerce studies. Most businesses in the industry also employ augmented reality tools to help customers get that feel of customized jewelry. In some cases, customized jewelry with AR increases sales by 30%.
SEO plays an important role in bringing traffic to the website. In keyword research, for example, it is shown that over 10,000 monthly searches occurred for the term “wholesale custom jewelry”; that is where your business needs to fill in by targeting the right audience. With such targeted keywords, optimizing product descriptions, correct meta tags, and building backlinks will surely increase their rankings in search engines, hence more and more customers will be attracted to businesses.
Social media platforms are very strong for custom jewelry on platforms like Instagram and Pinterest. Over 70% of all jewelry buyers said they find products on social media, especially on visually oriented platforms. By creating engaging content-behind-the-scenes production processes, customer testimonials, or showcasing new collections, for example-brand awareness and sales can be created. Fashion-specific Instagram influencers grew certain jewelry brands by more than 150% in just one year with targeted campaigns.
The wholesale of customized jewelry must also be carried out with influential or retail partnerships for expanding businesses. For example, a partnership between a customized jewelry brand and popular online marketplaces such as Etsy and Amazon would position a business in front of an already captured audience, as Amazon alone accounted for 38% of all online sales in 2023. Second, solid relationships with designers of jewelry and suppliers guarantee a constant feed of quality raw materials and at the best possible price, reducing production costs and increasing profit margins.
Pricing is the second most crucial factor in wholesale selling of custom jewelry. In the case of wholesale pricing, the prices must be competitive, yet one should not compromise much on the profit margins. A general mark-up for jewelry could range from 2x to 4x of the cost of production, depending on the material involved, the intricacy, and the customization involved. Offering tiered pricing helps businesses be more inclusive, from small boutiques to larger retailers.
“Success in the jewelry business is not only about selling a product; it’s about telling a story,” said Alessandro Bogliolo, chief executive of Tiffany & Co. That very principle can also be applied to bespoke jewelry, where branding and storytelling may be an extremely important part of reaching out to the customers.
To expound on this a little, wholesale businesses in custom jewelry typically invest in paid advertising with Google Ads or ads on social media. While the average return on ad spend in the industry is 5%, well-targeted campaigns drive traffic to your website and boost sales, often immediately returning your investment.
For more details on how to sell wholesale custom jewelry online, see wholesale custom jewelry.