The jewelry industry in the United States is valued at $71.3 billion, and it’s never been easier to enter this booming market.* In the past, brands often needed large advertising budgets to get their brand featured in national publications or TV commercials. These days, all it takes is an online store and an Instagram account to kickstart a new line of earrings or necklaces. By leveraging new channels like influencer marketing, you can put your new brand in front of a global audience for little to no cost.
How to build a jewelry brand from scratch
The thought of building a jewelry brand from scratch might seem overwhelming, but it’s actually a lot easier than you think. First, you’ll need to decide what type of brand you want to build. Are you going to be a luxury retailer, or do you prefer to sell affordable, everyday pieces? Are you going to offer pieces for broad audiences or do you want to focus on a particular demographic? Also, consider the pieces of jewelry that you’re going to focus on, such as pendants or rings.
Once you’ve solidified your brand identity, you need to come up with a name. Keep in mind that your business name will go on all of your marketing materials. Avoid being too specific, with a brand name such as ‘Jay’s Pendants’, because as your business grows you may want to expand into other categories. You might want to to name your brand something more general like ‘Joanna’s Jewelry’ or even ‘Amy’s Accessories.’
Next you’ll need to create a logo that represents your brand. If your budget is limited, you might want to consider an inexpensive marketplace like Upwork where you can get designs created for as little as $5. If you’re just exploring the idea and don’t want to spend money on a logo, you can use Shopify’s Online Logo Maker to create your own. Finally, you’ll be ready to build your online store using Shopify. There’s a free 14 day trial so you can build your brand and see what your website would look like without paying a cent.
Finding products to sell
You can find jewelry from wholesalers and dropshippers. AliExpress dropshipping via Oberlo is a great option. Look for chokers, necklaces, earrings, rings, and more. Simply search for different types of jewelry and use Oberlo’s one-click import. You’ll still need to manually push items to your store after writing unique product descriptions for your products. Once a customer places an order, log into your Oberlo app and process the order. The AliExpress suppliers will ship them directly to your customer.
Why you should consider Influencer marketing
After you select your products and launch your store, you’ll need to drive traffic to your site. These days, influencer marketing on Instagram is one of the most powerful tactics in ecommerce and it’s relatively easy to get started. There are lots of online tools like Whalarthat can help simplify the process of finding relevant, affordable Instagram accounts to partner with. You’ll need to create a plan that includes the content you want shared, the time you expect the post to go live, and the payment details. If you start with less established influencers, you might be able to compensate them by giving them free products. However, most reputable and profitable influencers require some form of financial compensation.
The business model
On AliExpress, you can find products for as little as $1 to $5, which you can sell to your customers for $10 to $30. This retail price might seem high, however, keep in mind that you’ll need to pay influencers, build your brand and maintain your store. You’ll also need some room to offer promotional discounts during holidays. By building healthy margins into your pricing, you’ll be able to build a sustainable business in the long run. Just make sure to order product samples for yourself to ensure that you’re pleased with the quality of the items, and that they’re worthy of the price point you’ve chosen.
Start making your own resin jewellery to sell online. Find out how by clicking here.