Jewelry has been carrying many cultural and emotional factors, and now it’s known as an important thing for people to show their personality and express their emotions.
Hip hop culture, as a kind of personality culture, has always had a wide influence. As part of its culture, hip-hop accessories, with their sparkling diamonds and over-the-top designs, are not bound by age, race, or gender. In recent years, there has been a high market demand and profits.
If you want a piece of the cake, remember that the supply chain is the heart of the business. If you are confused about the wholesale and supplier selection of hip-hop jewelry, please read on, I won’t let you down.
Learn About The Product Category Of Hip Hop Jewelry as the First
Hip hop jewelry has many types of products, such as necklaces, bracelets, rings, earrings, etc. You can choose 1 or 2 types of them to test first, avoid entering multiple categories’ market at the same time, because the jewelry update speed is fast, so it is not suitable for purchasing too many different types of products together.
Meanwhile, you should do some market research. The sales situation is different in each region and the fashion trend is different in the UK and the US.
If you know the local needs, you can find a factory with a competitive price or a factory with quality products as your supplier according to the market demand. You can consider local hot-sale products, and new products online, and then based on these products find a factory with OEM (Original Equipment Manufacturer) capability to make some variations (they can be a color change, shape change, or add some accessories as a change, etc.).
Choose 2 or 3 Authoritative Suppliers
There have 3 tips to help you to select suppliers:
(1) To understand the quality of the factory, we can consider getting some samples to provide to customers, and collect customer feedback to screen the factory.
(2) Understand the factory’s customization capability, whether it is high volume price advantage or low volume flexible customization
(3) Understand the OEM capacity of the factory and the ability to stock up, and know the product advantages of each supplier
The three points I have listed can be summarized as follows: evaluate the comprehensive ability of suppliers from the aspects of design ability, sample providing ability, and stocking ability. Because only having a price advantage is not enough for a wholesale business. The whole process of supply chain and cooperation are the guarantee of business.
Find A Testing Organization to Do Product And Factory Inspection
We can learn a lot about a factory by testing organizations. Such as the factory’s product certification, quality management certification, the factory size, quality system, etc.
Make an inspection report on the factory through them to show the production, quality control, and other capabilities of the factory.
Also, we should choose professional foreign trade companies, control the whole process of product manufacture, and inspection; increase the control of shipment safety, including logistics and freight capacity.
Cost Control of Jewelry Wholesale Business
(1) Products Cost Control: Small batch while multi-batch purchases, can reduce inventory pressure, and flexibly update the jewelry styles, to respond to customer needs and market preferences.
(2) Shipping Cost Control: Evaluate the logistics capacity of large-scale suppliers. Generally, suppliers with large supplies have advantages in logistics channels and costs. Consider the delivery timeliness as the first then the freight cost as the second.
(3) Other Cost Control: Choose direct suppliers. Direct suppliers and factories have a stronger price advantage, reducing the involvement of middlemen.
It is not easy to start a wholesale business, and building a good supply chain will get twice the result with half the effort. I hope my sharing today was helpful and I wish you all the best in your career.