Jewelry retailers once had limited options in silver jewelry wholesalers. They typically used wholesalers they trusted, had built up a relationship with, and were local to their region. The wholesaler might offer them generous payment terms as well to secure the business relationship. But, in dealing with only one or two wholesalers, it meant that the retailer could only offer jewelry that the wholesalers provided.
With the growing popularity of the online ecommerce platform, the retail jewelry business has exploded. Nowadays, retailers can shop with manufacturers all over the world. With the improvements in payment processes and shipping, retailers enjoy a sense of comfort and security in dealing with a silver jewelry wholesaler half a world away that they’ve never met personally.
Twenty years ago, this amount of trust would have been unthinkable. To jewelry retailers today, it’s just business as usual.
Adapting to the New Business Dynamic
Jewelry retailers who’ve been in the business for years and remember the old way of doing things, naturally have learned to adapt to the new, online business dynamic. They realize that an ecommerce platform that allows a retailer to order, schedule and pay for a shipment provides many benefits over the old way of conducting business.
And as more and more silver jewelry wholesalers switch over to an online presence, the benefits for retailers will continue to grow. The immediate benefit is in the number of choices for the retailer. Where a retailer might have had a couple of suppliers in the past, they now have a multitude of options.
Ordering and Shipping Capabilities
With the trend towards well-known, global shipping companies providing reliable and insured delivery of the orders, the ordering process is becoming streamlined. The large shipping companies are becoming valued partners of silver jewelry wholesalers because of how much they ease their workload.
Whereas before, the wholesaler or the retailer would be responsible for insuring the shipment, depending on the terms they had worked out, now the shipping company provides the insurance.
There is also no need for the wholesaler to figure out the best way to ship the order by land, sea, or air. Nowadays, the shipping company takes care of all the logistics. They’ve created a holistic system that rids either the wholesaler or the retailer from having to worry about anything that happens between the ordering and arrival of the shipment.
New Focus on the Jewelry Business
For silver jewelry wholesalers, this means they can focus more on the design and manufacturing process and hand the logistics off to the shipping company. To the retailer, it means they can focus more on taking advantage of bulk shipping prices and offering discounts to their most valuable customers based on the savings in shipping costs.
The switch to an online business model has meant that for all three players, they can focus on their specific areas of expertise to deliver a better shopping experience to their end customers. And this is what business is supposed to be all about.
Photos and Web Content by Primal Co., Ltd.