Whilst all the indicators are that sales of luxury items are taking a serious hit (and what’s more luxury than fine jewelry) the market for artisan handmade jewelry is as vigorous as ever. In fact, as a direct consequence of the current economy, there is a boom in this cottage industry as more people opt for or are driven to explore alternative sources of income.
To the independent retailer this represents a potential supply bonanza. Beautifully crafted jewelry made with natural stones can now be sourced from local designers for a fraction of the cost involved in sourcing from the big trade shows and often for a price that is little more than the cost of mass produced and imported jewelry.
It is worth exploring this avenue of supply. In the process you will be supporting local industry, fostering local talent and benefiting the local economy – that’s something to feel good about.
If you are unsure about committing your finances in this way; why not set aside some of your retail space for consignment? Consignment is a win-win option in these uncertain times.
The designer supplies the stock and you supply the retail outlet. The important caveat however is to fill out consignment forms so all parties are clear regarding responsibilities and profit division etc. (You’ll find plenty of sample consignment forms online that can be adapted for your needs.)
The best place to connect with local home based jewelry designers are craft fairs and gem and jewelry shows.
I know more than a few independent retailers, who have found consignment of locally designed jewelry an absolute goldmine and many successful jewelry designers who started out by consigning their unique designs for sale in local boutiques.
