Do you sell wholesale?
Here is what selling wholesale can help you with:
It can provide a regular flow of bigger, more lucrative orders, in contrast to the unpredictable, one-off nature of retail sales;
It gets items out into the world in front of different kinds of shoppers, which builds brand recognition;
It can motivate you to re-evaluate and streamline your production methods;
As a trade member, your application must be accepted before you can connect with buyers or sellers. Both sellers and buyers have to meet the requirements for GoJD Connect.
Trade member requirements for GoJD Connect.
1. Wholesale pricing. The most important criteria for wholesale sellers is pricing. Prices should be 50% or less than the suggested retail price from a wholesaler. Your suggested retail price must match the current retail prices in your GoJD Connect shop or own website. If you sell for less than your suggested retail price in your GoJD Connect shop or elsewhere it would create a difficult trading position and may jeopodise future orders from retailers.
50% is a standard discount for wholesale, retailers typically mark up by a factor of a minimum X2.4 which covers overheads and other costs. If a 50% discount doesn't allow you to make a profit, then it may be that you are underpricing your products and should reconsider your costs. Wholesaling isn't always a good option for every business model.
2. Professionalism - We will look at your website and/or social media presence to determine how well you conduct yourself online and how presentable your products are. It may be that you have an excellent product but the imagery isn't very good. Poor product images and a small range of products reflect badly on products sold online, jewellery more so.
Bear in mind that even if you meet all the requirements it doesn't guarantee that you will be accepted to GoJD Connect. The Guild of Jewellery Designers reserves the right to approve or reject any application to join GoJD Connect and to refuse service to anyone, for any reason, at any time. However. it may be if we see improvements, a future application will be accepted. Don't take it to heart if your application is refused.
If you have been accepted to GoJD Connect, that's when the work begins. We will set up your wholesale area for you and list a product to show you what information is required and where it goes. Adding more products can be easily achieved with the clone feature of the site and then some changes to tailor the new product.
It should have all information about products: at least one crisp image of the item, an identifying title or code (such as a SKU) and in-depth item details. Your profile should include a bio about yourself and your company along with information about the ordering process.
You should also state minimum order quantities, payment methods and terms, production times, shipping methods and costs, as well as return and cancellation policies to ensure a smooth transaction from beginning to end. Retailers viewing the site will be able to view your wholesale area as soon as it goes live so it's best to get as much information to hand ready to put in as soon as you can.
Orders can be taken and paid for through GoJD Connect and go directly to the wholesaler. The Guild of Jewellery Designers have no contact with the payment side and no commission is due or deducted at source. The only cost to the wholesaler for listing on GoJD Connect is the fixed yearly charge. Links can be inserted along with each product to direct retailers to another website for more information or ordering if you so wish. Orders placed through GoJD Connect will be paid for through your PayPal account on placement.
When you receive an order on GoJD Connect it is totally up to you to decide what payment terms to offer - immediate payment or net terms if you have an established relationship.
GoJD Connect or wholesaling in general may not be right for everybody but, if you're confident in your pricing and know your target market, it may be right for you.