[Jewelry making - Article 00757] - Re: [Orchid] Is wholesale bussiness down?

[Richard Hart]

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Laura

    Other than the issues of the economics of the U.S., and the
    economics of specific regions, there is another issue a wholesaler
    should be aware of that I have experience of as a retailer,
    particularly having a large quality sterling inventory. 

    What I have noticed is that sometimes we love a line, and it moves
    slow or does not move. Some lines move well, and then slow or stop
    selling. Some lines sell and sell and sell. What I believe is true is
    that we have a certain repeat client= ele and once that market makes a
    purchase, the line has to refresh with new designs, or it just stops
    working for us. Some lines are much better at having new and diverse
    designs and/or materials. 

    If your line was selling well before, and you raised your prices
    between 10-20%, and you have new designs it is either the economy, or
    your marketing. It is not the price as all wholesale has gone up. 

    I would think the reps have some idea of what the resistance that
    buyers had in relationship to others lines that they were taking
    orders for. I would ask them, color, price, selection, and try to
    find out what lines did well, and see if you can see what that
    company sells, and what was successful for them. The buyers are
    responding to something about that line. 

    Business whether wholesale or retail is all about navigating
    circumstances. Things change, and I believe that now with all the
    competition and the way information spreads so fast, things change
    faster. 

    I like to say that there is a front end and a back end to everything.
    The front end is making it, the back end is selling it. I have had a
    retail store for 15 years, and I am in the process of developing a
    line that will become my source of income so I can leave retail. It
    has been a good run, and now it is time for a change. I am well aware
    that as much time and creativity as it takes to put a line together,
    it is going to take that much and more to market what I sell. I have
    supported myself for 15 years making jewelry for retail, so there
    ain't no reason I can't do it wholesale. Just another learning curve. 

    I want to maximize what I am doing, so I welcome the challenge that
    each area brings. In each challenge I face I will achieve success as
    I can acquire the skill and knowledge to be successful. Have faith in
    yourself and persevere, you will be successful. 

Richard Hart

 
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