The fashion jewelry industry has benefited a lot due to globalization. Designs and patterns of fashion jewelry are now designed in one corner of the world, manufactured in another part of the world, shipped to various markets, and sold to various consumers. Fashion jewelry is a vibrant market. Since the life span of the product is very short, the wholesale business model works very fast. Presently, Asian countries are trying hard to get a major share of the wholesale business of the fashion jewelry in the world.
The saleability of any jewelry is primarily based on the physical appearance of the item, and the impression it succeeds in creating in the mind of the customer. The items are beautifully packed by the wholesalers to give an impression of being very expensive items. The first look and impression play a vital role in the purchase of any jewelry. Wholesalers also try to interact with their customers to convince them about the quality of their products, and get their views for further improvement. This has helped the wholesalers in enhancing their market reputation, and in making fashion jewelry business profitable and marketable as well. Their fashion jewelry pieces have been included in their catalogues, which gives the customer detailed information about the product. This is of big help to the customers in making their choice. The customer now has the option of selecting the fashion jewelry items from a large number of jewelry collections, available both online and offline. Because of intensive competition, wholesalers are compelled to ensure that their products are of high quality, to make repeat sales.
Fashion jewelry wholesalers have made their business profitable, because they think on the lines of the customers. Every customer has a different taste in fashion jewelry, and it is practically impossible to please everybody. Since the demand of these items keeps changing, wholesalers would rather not keep a large number of unsold products in their inventories, as it adds to their running costs. They understand the demands of the customers in the market, and concentrate on the rpecific design collection, to minimize unsold items in the inventory. This way, they succeed in attracting customers to them, rather than going to the competition. The success of this type of business solely depends on detailed research and regular monitoring of the changing trends and demands. A good way to be in touch with what is in the vogue is by regularly checking out, what celebrities are wearing. As their fans cannot afford to buy the same accessories, they go on a hunt to find cheap duplicates. This research helps the wholesalers in getting the design that would be an instant hit in the market. They study the fashion trends throughout the world, by going through entertainment and fashion magazines and celebrity shows. They also come up with their own fashion jewelry, which they think would be a big hit in the market.
Many of these wholesalers also utilize social media tools to attract customers and increase their sales. They also set up accounts on social networking sites such as Twitter and Facebook to interact with their potential customers. Many have created their company sites and manage blogs. They market through such media tools because of their extensive reach to the target market. Customers are asked to express their opinion about the type of jewelry being sold by them, and the items they would like to buy. Customers who give creative suggestions are offered discounts and freebies. Their expectations are realistic, and they do not compete with the established leading companies. They have set up online stores, from which customers can buy at very reasonable rates and impressive discounts.