Like any major world event, COVID-19 has wreaked havoc on the global economy, causing shutdowns of trade and commerce that will take years to recover from. Still, as we have seen with other pandemics and global crises, such as the SARS outbreak in the early 2000s, the economy rebounded in a big way before leveling off. The silver market will be no exception to this trend once the pandemic subsides, leaving silver jewelry suppliers with tremendous opportunity to recover economic losses.
As the world’s economies begin to recover and countries ease their health and safety protocols, there will undoubtedly be a rise in demand for silver jewelry; suppliers need to be ready for the influx of demand. But how can suppliers of silver jewelry seize the opportunity for growth?
The answer lies in digitizing sales and fulfillment of all products.
The Future is Digital
For silver jewelry suppliers, the future is not digital – the present is. Finding buyers for jewelry has never been easier, thanks to the ease of spreading awareness about your brand and products through simple technologies like social media and Google.
By creating business accounts on these platforms and advertising to the right people, a silver jewelry supplier can find countless new business opportunities around the world. Plus, because of the nature of COVID-19, face-to-face interactions are no longer necessary to set up business relationships. All you need is a good product and attractive pricing.
Find the Right Fulfillment
Global logistics is no longer the headache it was just a few years ago. Dropshipping and general international shipping are much simpler, cost-effective, and far-reaching than they were, making it very possible for even the smallest silvery jewelry supplier to do international business.
The key is finding a fulfillment provider that can offer attractive rates to the destinations in your target market. With so many options, it will be easy to shop around for the best prices.
Using platforms like Facebook and Instagram, you can set up a business profile and start targeting customers with advertisements. With high-quality images and attractive pricing, you may even attract end-consumers in addition to resellers.
Since you know your target market, you can toggle the settings on the advertising platform you choose to specifically target people based on their demographics. With jewelry, your net is very wide, so only you can know which age, identifying gender, and location best portrays your target market.
Find What Works and Stick To it
There is no magic cheat to win at social media and Google advertising; most success is through knowing your target and running ads based on trial and error. It can be a slow and grueling process, but once you find the right formula that works for your business, the leads and sales will start flowing in.
By starting now, you will be in an advantageous position over your competitors in terms of establishing a customer base and getting your business back into the black.