How to Start a Jewelry Ecommerce Business Without Inventory
The world of online jewelry selling can be intimidating, especially if you are new to the field and have limited startup capital. But with the right eCommerce for services platform and a photorealistic product image, you can get a jump start on your online business without having to worry about storage or keeping a physical inventory. Read on for three strategies to jumpstart your online business without inventory:
Dropshipping vs inventory management for jewelry eCommerce business
There are several benefits to using a dropshipping service to operate a jewelry eCommerce business. For starters, you’ll avoid the hassle and expense of managing inventory. Dropshipping services allow you to procure products directly from third-party sellers who ship them directly to the end consumer. You also won’t have to worry about the logistics of handling the merchandise. But the downside is that its hard work. The time-consuming and stressful work involved in managing an inventory and logistics can keep you from getting ahead of yourself.
Dropshipping involves having fewer physical products in stock, and the company will handle the packaging and shipping of your items. Dropshipping can also be a trial period if you’re trying out a new location. Additionally, some products are more expensive to ship or require high maintenance. For example, jewelry is generally heavy and large, which means that it can take up too much storage space.
Identifying a niche for your jewelry eCommerce business
Once you have decided to open a jewelry store, the next step is determining what type of jewelry you will sell. This means determining the type of materials, themes, and target audience. Identifying your niche market is critical to ensuring success. To determine your market, it is best to read industry market research reports. For instance, IBISWorld is considered the gold standard in industry research.
Once you’ve narrowed down your niche, you can choose to focus on one specific type of jewelry. For instance, if you’re a jewelry maker, you may want to focus on handmade pieces. Handmade jewelry is a classic niche and has been around for years. Choose specific types of jewelry to focus on, such as earrings, pendants, and rings. You can find inspiration from online sites like Etsy to decide which styles and materials to stock. If you’re passionate about handmade jewelry, a good example of a successful handmade brand is Dogeared Jewelry, which sells both handmade and mass-produced pieces.
Creating a shoppable gallery from your Instagram feed
Creating a shoppable gallery from the photos on your Instagram feed is an easy way to launch a jewelry eCommerce business without inventory. There are a few options for you to create a shoppable gallery. For example, you can use a tool like Taggshop to create an Instagram shoppable gallery. Taggshop collects your Instagram posts, tags them to make them shoppable, and publishes the results. Many consumers find this a convenient way to buy products and engage with brands on Instagram.
If you want to create a shoppable gallery from your Instagram posts, you need to make sure you have the proper set of settings for your shop. To make it look appealing to shoppers, you need to include a contact form. To do this, you need to create a contact form that complies with Instagram’s policies. If you do not have any design or coding skills, you can use a free Getform form template to create a simple and effective form.
Creating a business plan
When starting a jewelry eCommerce store, there are several things to consider. Firstly, you’ll need to decide whether you’ll manufacture your jewelry or resell other products. Also, you’ll need to determine the proper amount of inventory to stock. It is important to have the right amount of inventory because too little can leave customers disappointed and too much can tie up your cash flow. Developing a business plan is an important part of starting a successful jewelry business.
Besides finding a niche, you’ll also need to market your store. This is one of the most important aspects of starting a jewelry eCommerce business. The eCommerce site will not automatically attract customers – you’ll need to use marketing methods to get more traffic to your site. Social media is a great channel to use for marketing your jewelry store. You can also use email marketing campaigns to advertise your new store and draw in new visitors.