If you look up the best things to sell online, most lists will mention jewelry among the top options. But what if you want to create your own business selling jewelry online? That is not as straightforward as simply selling your old, unused jewelry on eBay or Facebook Marketplace.
Starting an online jewelry store requires planning. You need to have a business plan, find a supplier, and set up a web store to sell your products. That may seem like a lot, but it’s actually easier than ever to start an online retail business. This doesn’t mean that there’s no work involved. But, if you know what steps to take, it is very manageable. Here is everything you should know about how to start an online jewelry store.
How to Start a Jewelry Business Online: Advantages of Selling Jewelry Online
First, let’s take a look at some of the reasons why selling jewelry online is a good idea. Why is jewelry such a common recommendation for online retailers?
One of the unique challenges of online retail is shipping. The larger the item, the harder (and more expensive) it is to ship. This does not mean you can’t sell large items online. But, when looking for items with a low barrier of entry, small products are better than larger ones. Jewelry is typically very small, which means it is often quite easy to ship.
Easy to Manufacture
Some jewelry items are relatively easy to make by hand. Handmade items can help save on inventory costs and also give retailers greater control over their products. Not to mention, many retailers simply enjoy selling items that they have made themselves. If you have an interest in selling handmade goods, jewelry is one of the best options for you.
High Price Points
You can sell jewelry at a good price point, especially when you make it yourself. This is, of course, one of the most important factors when starting an online retail business. The better your price points, the easier it will be to make a profit.
How to Start an Online Jewelry Business: Finding Your Niche
Jewelry is a fairly broad category of items. Typically, new online retail businesses want to start small with their inventory. Focusing on a certain area of your market can keep your business from being stretched too thin. This applies to online jewelry stores just as would any other retailer. Here’s a look at the different categories of jewelry you can choose from.
Fashion jewelry refers to jewelry that consumers can wear in everyday situations. Typically, fashion jewelry is made from less expensive materials than other jewelry types. This should not mean that it is cheap or poorly manufactured. Fashion jewelry can be worn for a long time without showing signs of deterioration.
However, because it’s made from cheaper materials, fashion jewelry should be priced lower than other jewelry types. Exact prices will always vary from one item to another. But fashion jewelry items are typically priced below $100, or slightly above that mark for some items.
Fine jewelry is made from authentic, precious metals and gemstones. Materials like silver, gold, and diamond are typical for fine jewelry. Because they are made from finer materials, fine jewelry items cost more. For the most part, they are not intended for everyday wear. Most people only wear fine jewelry for special occasions.
Fine jewelry prices can range from anywhere from just over $100, to several thousand dollars. A typical price range for fine jewelry items is between $2000 and $3000. This is a very good price point for retailers. However, it is also more expensive to obtain fine jewelry materials in the first place.
If you want full creative control over your business, you can opt to make handmade jewelry. There is a robust market online for handmade jewelry thanks to Etsy. Many people prefer the custom and authentic nature of wearing handmade items. If you enjoy making your own jewelry, this can be the best way to turn your hobby into a revenue stream.
Selling handmade jewelry affords retailers plenty of opportunities for variety. However, the market can be quite competitive, making it difficult to stand out. But the control and affordability of handmade jewelry still make it a very good option for those with the means to do it.
Starting an Online Jewelry Store: Where to Sell
Once you’ve figured out what to sell, the only thing left to do is set up your store. There are two options here, though neither is mutually exclusive. You can set up your own website with an online store. Or, you can sell on an established marketplace, like Etsy or Amazon. You can even do both!
Selling on a Marketplace
There are a few major online marketplaces to consider, each with its own pros and cons. The largest are Amazon and eBay, with Etsy as an excellent option if you are selling handmade items. Other platforms, like Facebook Marketplace and even Instagram, can help reach a targeted audience.
Each marketplace has its own pros and cons. For instance, Amazon has high competition. However, it also has an extremely wide user base. Amazon also has minimal fees and has several other features, including Fulfillment By Amazon to make it affordable.
Etsy, on the other hand, caters to craft enthusiasts and consumers shopping for custom items. However, Etsy also charges listing fees for most items. With that said, setting up shop on any of these platforms is easy and can greatly expand your business.
Creating Your Online Store
The other option is to build your own website for selling jewelry. Or, you might already have a website and simply need to add an online store to it. If this seems daunting, don’t worry! Using an ecommerce platform like Ecwid makes the process much easier than you would expect.
With Ecwid, small business owners can set up their online stores quickly and easily. With easy customization and a plethora of convenient tools, you can design a professional website without any expertise. Read about getting started with Ecwid to learn more.
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