When it comes to choosing jewelry, there are a variety of different styles and variations that are available. Of course, some businesses sell traditional jewels, like emeralds, rubies, or sapphires. Yet, one of the most popular styles in recent years has been the introduction of crystals. These have been used for necklaces, rings, bracelets, and even earrings. But as a necklace style, crystals easily are one of the top trends of 2022.
This article will examine the steps you need to take to wholesale these beautiful jewelry pieces at factory pricing. In addition, there will be a few tips provided that veterans in the industry have used for years to get the lowest price possible, so you can also achieve a great low price for your products! With this information, you'll learn just how easy it is to get the lowest price for this new trending style of 2022.
Why Should You Get Factory Pricing?
Factory pricing is often overlooked because many people, especially new business owners, are not aware that it's possible when shopping on wholesale platforms. They assume that the price they see is the price they have to pay, but suppliers are almost always willing to work with buyers. There are a few reasons why getting factory pricing is so important.
Getting factory pricing for your products ultimately means getting the lowest price possible. This helps you cut costs such as labor, materials, shipping, and other miscellaneous fees. Factory pricing helps your bottom line as a business. Reducing expenses has always been a goal for business owners because you enjoy a more substantial profit margin.
Another reason why factory pricing is important is it allows you to lower your prices to compete with the market. With so many people selling the same items, it would set you apart to sell yours at a price point that other businesses can’t beat! When you get factory pricing, you can lower the cost of your product for your customers, giving them a discount compared with other stores. But the best part is that you still maintain you profit margin from before!
As you can see, factory pricing is the only way to get the best profit margin and offer your customers a price that competitors can't beat.
How to Get Factory Pricing for Crystal Necklaces
Now that you know why it's essential to get factory pricing, it's time to look at how to get factory pricing for this trending item. For first-time wholesale customers, it can be daunting! But if you follow these tips, you’ll get the lowest price point and ensure you have a strong profit margin. Here is how you should proceed in order to get factory pricing for these necklaces.
Order in Bulk
Ordering in bulk is ultimately the only way to get factory pricing. This allows you to get the lowest price, while also eliminating miscellaneous costs, like shipping and other fees. Suppliers like when you order as much as possible, and most pricing is structured to be less per unit as your order quantity increases. Whether it be 100 items or 1000 items, find a great supplier who can work with bulk orders that will offer factory pricing when you order bulk quantities of your crystal jewelry products.
Build a Relationship with Your Supplier
One of the most overlooked tips is building a relationship with their suppliers. Most people don’t think about this because this is a long-term solution. If it’s your first order, you likely won’t achieve factory pricing. Suppliers won’t want to provide you with a discount until they see that this is mutually beneficial. Suppliers will likely want to provide you with their lowest price point if you have a good working relationship.
Building a relationship with them will ultimately ensure you get long-term pricing discounts. Just as much as you love consistent customers for your store, your suppliers love having long-term customers who are regulars to their store! Focus on building these relationships and eventually, your relationship value will allow for discounts and more to benefit you both.
Make an Extra Effort to Collaborate
It would help if you made an extra effort to collaborate with the people you work with. In business, it's only sometimes going to work out how you want it to. In some situations, you need to make a compromise to get what you need for your store and your customers. Compromises are a part of business. If you find a way for the situation to be mutually beneficial, these compromises will become second nature as you work with people in your supply chain.
When you work with your supplier and you make an effort to collaborate to remain dedicated to this long-term business relationship, you will ultimately get the best price because they value you as a customer. With everything in business, it's a matter of the relationships you build and how you treat the people you work with within your supply chain. Don’t be shy about finding the best compromise for you both.
Create Custom Orders with Your Favorite Suppliers
Furthermore, another great solution for factory pricing is to create custom orders with your favorite suppliers. When you start talking to suppliers, you should discuss the option of custom orders if you feel your particular request is outside the scope of their everyday work.
Not only will they appreciate it, but they will likely work with you if you have a large order that will be profitable for them. For example, let's say that you want to order a specific kind of crystal for your jewelry, and they only offer a variety pack. Working with your supplier, you can find a suitable solution within their price point and ultimately, close to your desired budget.
Factory pricing doesn’t happen overnight, but as a business owner, you can work towards it with custom orders. The more business you bring your supplier, the more likely they are to cut you deals because they have consistent business from you.
How to Choose a Crystal Jewelry Supplier
When choosing a supplier for jewelry items like crystals, you must decide who is best to work with and what kind of suppliers will produce a great, valuable long-term relationship. As buyers, it's your job to determine who best suits your needs for your specific products. It will be different for everyone, but there are a few general expectations you should set for yourself.
Here are a few tips to help you choose a crystal supplier for your jewelry products.
Easy, Understandable Pricing
The first area you consider is finding somebody with understandable and reasonable pricing. You don't want to work with somebody whose pricing is difficult to understand. You definitely don’t want to work with a supplier that’s too expensive for your budget. Your supplier should have clear and understandable limits of what their prices are per order.
Focus on finding a supplier with clear indications of what it will cost. Then, you can discuss more intricate details regarding shipping, taxes, or any other overhead costs associated with your bulk order.
A Reasonable Minimum Order
This is also important regarding a reasonable minimum order because you need to find somebody that ultimately fits your needs. So, for example, if you want to order only 100 crystals, you don't want to order from somebody with a minimum required order of 1000 units.
You want to ensure you're working with suppliers who meet what you need. It's all about finding the perfect match for your supply chain. This might seem like a difficult task, but ultimately, you want to avoid overpaying, and you also want to ensure that your minimum order is met regardless to help satisfy your customers.
Strong Brand Reputation
Next, it's essential to think about their reputation. Again, there are various wholesale platforms with reputable sellers, but it's necessary to find suppliers with great reviews. You don't want to work with somebody who only has a few good reviews, just as much as you don't want to work with somebody who has moderate to poor reviews from several different buyers.
Work with people who have great reviews and have received praise for the work and for their products. When it comes to your business, you should know that it's all about the bottom line.
For that reason, you should always work with people who know what they're doing and are professional. Focus on finding somebody with a strong, positive reputation as a supplier, and you'll undoubtedly be able to trust that the work they complete for your business will be just as excellent as the previous work they've completed.
How to Choose the Right Crystal Jewelry Products
When choosing crystal jewelry products, it's essential to make sure you do a thorough search on wholesale platforms to find the best products. When it comes to trending items like crystal pendants, you want to make sure that you find the right product and you don’t just choose the first item that you see. You also don’t want to just go for the lowest price point.
You don't want to choose the cheapest and the quickest shipping because that ultimately might yield poor products. Instead, look for these criteria to pick the best product you and your customers will be happy with.
Measure the Quality
Regarding the quality of your items, you need to choose a price point for your sourced products that your customers are willing to pay. When it comes to quality, the higher quality it is, higher the pricing. Focus on getting the highest quality products available within your budget, so than you can offer the price point that your customers desire.
From there, it should be relatively easy to attract the attention of your customers. It might go without saying, but it is always a good rule of thumb to avoid fake products and always avoid buying the cheapest product. You will regret it, and there are numerous suppliers that offer great qualities at affordable prices!
Customer Desires and Favorites
When choosing products, you also must ensure that whatever you purchase for your inventory—no matter what time of the year—will be the same items you know your customers love. The last thing you want is to buy items that aren’t popular. Even worse, you don’t want to purchase items that your customers will not buy. That just becomes wasted inventory.
Instead, you need to understand what they need and meet their specifications. If they wish to have wire-wrapped pendants, then you purchase them. If they want heart-shaped crystals, then find a supplier for that product. Make sure whatever you purchase is ultimately what they desire because you don’t want to waste inventory. This is what every business owner should follow regardless of their industry.
Choose From What is Trending
Another unique way to find the best products for your customers is to choose from the top trends. Customers always prefer certain items, but it's hard to ignore the power of many of these trends.
For that reason, we recommend purchasing some of the trending items, but always focus more on what your customer desires. Sometimes, they will overlap, and the customer will be aware of the new trends in the industry. Make sure you search for what's currently because you'll likely be able to sell to your current demographic—or even to new customer demographics.
What is Trending in the Market?
We have done some research and looked into the top trends of 2022 for crystal pendants. Here are the top seven items that you could consider purchasing for your customers:
Wrapped Wire Pendant
Crystal Point Pendants
Raw/Uncut Crystal Pendants
Cap Crystal Pendants
Tumbled Pendants
Carving Pendants
Tree of Life Pendants
Shop for Wholesale Jewelry at Factory Pricing Today
When purchasing wholesale jewelry, whether it be crystals or other styles, there's no better place to go than to wholesale websites. These will ensure you get the lowest price for most of your products, even factory pricing.
For more information and to connect with a reputable wholesale platform with millions of reputable, dependable sellers from all over China, check out our website today to begin your wholesale search.
