Dropshipping vs Wholesale: Options For Wholesale Jewellery Suppliers

If you want to get into the business of selling jewelry then you will most likely encounter two methods: wholesale and dropshipping. Basically, these are two different ways of obtaining your jewelry supply. If you're wondering which method is better then that's something that is tough to answer. Some people swear by getting their inventory from wholesale jewellery suppliers while there are those who prefer dropshipping. So it will mainly depend on what you need and how you want to conduct your business. The two methods will be compared in this article. So at the end of the article, you'll be able to have a more informed decision.

Getting from wholesale jewelry suppliers

To buy wholesale means getting products in bulk so you can avail of a much lower price than what regular customers get. You can make money by selling the jewelry at retail or regular price. This is a more traditional way of selling products and one that has been used for centuries probably. It's a good choice for those who are new to business because of the pretty easy setup. All you really need to do to succeed with this method is a good and reliable wholesale supplier. It is also pretty low-risk. In this method, you don't really need to spend a lot of money upfront.

One of the greatest benefits of getting from wholesale jewellery suppliers is that you can choose products that are already selling. The fact that wholesale suppliers exist for a particular type of jewelry means that there is already a market for that product. So you really won't have a hard time looking for a target market for the products that are being sold wholesale. And if you want to sell other types of products, then most likely, the same supplier has them. Wholesalers usually carry different kinds of products. And if you're a good customer then maybe the wholesaler will allow you to combine your order so you can get different products without needing to meet the minimum for each product.

One of the biggest disadvantages of this method is having to keep and manage an inventory of products. Since jewelry is relatively small compared to other products, you don't need much space. But still, you'll need to manage the inventory yourself. Also, competition can be tough especially if you're selling a popular type of jewelry. You will need to really exert effort on the marketing side of the business for people to notice you over other sellers. Last but not the least, it can be hard to find a reliable supplier. And you need to be careful because there are many unscrupulous individuals posing as suppliers.

Dropshipping

Dropshipping is a relatively new method of selling products. In this method, you don't need to keep an inventory of the products you're selling. This is why this is the preferred method for people with limited space or for those who don't want to be bothered with the task of keeping an inventory. Your supply will come from what are known as third-party suppliers. They will be the ones who will send the products directly to the buyer. So all you really need to do is to promote the product on your online store and deal with the customers. Dropshipping does require some technical knowledge.

The biggest benefit of selling jewelry using the dropshipping method is the fact that there are a lot of products that you can sell. You are not going to be limited to just a few products and that will look good in your online store. It's also a low-risk method because you don't have to buy the products and you don't have to keep inventory. The products will not even pass your hands because they will be shipped directly to your buyer.

The biggest disadvantage of dropshipping is the low-profit margin. You can definitely make more money by getting products from wholesale jewellery suppliers. Competition is also high since the method is fairly easy to do and almost anyone can get into the dropshipping business.

So should you get products from wholesale jewellery suppliers or do dropshipping. The decision is totally up to you. It all depends on your vision for your business and what you're willing to sacrifice for it.