Wholesale Fashion Jewelry – 5 Shortcuts to Retail Success

Something in the human spirit is always itching for independence and this itch translates to a constant flow of new entrepreneurs that so often gravitate towards fashion jewelry. What is so irresistible about this accessory? Beyond the high profit margins that wholesale fashion jewelry can open for retailers lies an intrinsic beauty that creates truly wearable art. Yes, wholesale fashion jewelry offers plenty of profit potential that enables retailers to turn small investments into the longest mark-up in the fashion industry, but the magic of fashion jewelry’s beauty stops consumers in their tracks and this magnetic attraction, more than anything else, brings the entrepreneur into retail sales specializing in jewelry.

Many of these new fashion jewelry businesses begin on the simplest level with retailers buying wholesale fashion jewelry and presenting it to friends and co-workers. Easy sales and new found profits ignite a fire to grow the business, but what step comes next? As a twenty-five year veteran of the wholesale fashion jewelry industry, I have seen business after business start in this way and often grow to become the major supplier of fashion accessories in a community. The learning curve never ends as fashion jewelry evolves as well as retail tactics, but some things never change and these key techniques will have positive impact on your fashion jewelry business.

But first, how are you going to sell your treasure of wholesale fashion jewelry? Outgoing personalities love the active sale. Visit businesses, do parties, set up in flea markets or craft shows, and bubble over with enthusiasm as you introduce stunning fashion jewelry to consumers. All they need is a crowd and permission to set up. Bingos, festivals, school picnics, car shows, sporting events-the list is endless. Overhead is low and actually stops when not engaged in sales activities. But so does sales, so many prefer brick and mortar businesses with a higher overhead, but continuing business even when you’re not there.

The quieter, methodical personality may not be up to this bubbling enthusiasm and choose a passive sales mode. Successful businesses often build without the entrepreneur ever engaged in active sales to the consumer. They connect with beauty shops and other locations to provide fashion jewelry on consignment with the owner profiting as well as the entrepreneur. Methodical personalities think out the details like how to handle shrinkage of missing items with no sales recorded. Increasing price and lowering consignment fees compensates for losses when fashion jewelry has open exposure that can result in more shrinkage. The flip side is reduced sales in secure environments like showcases or behind the counter, which reduce shrinkage, but unfortunately, also sales.

Okay, both personalities have a selling method they are comfortable with and both can expand their business with online marketing by working on websites while their sales support them as the websites grow, climbing higher in the results of major search engines. But what about the 5 shortcuts to retail success? They boil down to pricing, selection, presentation, knowledge, and benefits.

-First comes pricing the wholesale fashion jewelry. New entrepreneurs often feel shock waves as they see the wholesale cost compared to retail prices they paid as consumers. The first temptation is undercut all the competition. Stop there!-because fashion jewelry is cyclical and low prices generate low profits that don’t carry retailers through the tough times. Do you want to spend all your earnings on restocking wholesale fashion jewelry and covering overhead? Of course not, you want to grow your business and make a profit and pricing is important.

Retail uses a term called keystone-a nice word for doubling the wholesale price. Make keystone the minimum for mark-up in fashion jewelry and look for the items that give you room for far longer mark-ups. The upside has no rules. Let your intuition guide you because prices can always come down, but it is difficult to go up.

-Next comes selection and this is a factor that major retailers like fine department stores are always struggling to get right. Stroll through one and you will see they have reduced staff on the floor so selection often has to sell itself. The fine department stores need “no miss” choices and have resources, forecasts, statistics, and trained buyers to make these decisions. Small retailers don’t need to be discouraged because this isn’t rocket science and you are closer to the clientele in your location than any major retailer.

Making the perfect selection rests on the age and demographics of your main customer base. Add this to the fashion trends of the season and you are close to perfect. How do you keep up with all those rapid changing fashion trends? Well rapid change is a myth. Trends change very slowly-often over a decade. Yes, colors and subtle adjustments occur every season, but today we are in the midst of classic trends that started in the early 21st century and have a promising future. More on this when we cover knowledge.

-Now for presentation-making the fashion jewelry look special. Ever notice how necklaces clumped together on a tee bar on top of a showcase seem to scream “I’m on sale” while the stuff in the showcase whispers “I’m special”. That’s presentation and how it has changed even for fine department stores.

Teri Agins in The End of Fashion details how department stores that were once “the first visual contact with fashion” and “introduced merchandise concepts to customers” changed in the late 20th century to a collection of brands. Agins quotes one upscale shopper who “was appalled when she discovered $19.99 Nine West shoes displayed right next to $350 Chanels” in her favorite department store that was compromising its image of elite fashion. Make an item look special and it takes on the perception of higher value.

-Next comes knowledge that is worth more than price. Don’t believe it? Think of items you bought because the sales person impressed you with a deep understanding of the product. That was worth more than price. I personally experienced this lesson when I did a trade show with a colleague. I told my customers the fashion jewelry was a real value at the price. His sales person painted a word picture of the wholesale fashion jewelry with the season’s apparel and wrote more orders without the customers even knowing the price.

Knowledge is knowing the trends and knowing the item. Consumers trust a well-informed source and when you know what is today’s style and why it looks right on the customer, you remove the burden of choice from the buyer.

Knowledge today goes deeper because classic trends in fashion jewelry bring gemstone components, shell, Murano style glass, Millefiore, and more to jewelry designs. A story is worth volumes in explaining glass jewelry and knowledge of gemstones that removes the doubt about whether it is real. Don’t be overwhelmed about understanding the trends and knowledge of today’s components because everything is detailed in a report, Wholesale Fashion Jewelry-The Magic of Trends (find a link to the report at the foot of this article).

-Finally there are benefits. Think of benefits as vision-what the customer envisions. Anyone that buys fashion jewelry wants to make a positive statement. They want a look that is flattering and appropriate. So like the car commercial running on the radio, features describe the details like length, color, texture, and shape while benefits say “matches apparel while complementing your complexion”, “draws attention to your slender neck”, or “creates a youthful look that is so you”. The old adage of sell the sizzle, not the steak, gets to the point. Pick the right item for the customer, be sincere, and sell the sizzle.

Will all this work in a slowing economy? Absolutely! In worrisome times women appreciate an escape valve of some small new purchase. What fulfills this better than fashion jewelry? Apply the five shortcuts and lift your customers’ spirits with a feel-good experience.

Products And – Or Services – Defining "Service-Oriented" Products and the Related Role of Technology

The economy can be analyzed using both market-driven and production-driven approaches to industry classification. The North American Industry Classification System (NAICS) uses a market-driven approach; the older Standard Industrial Classification (SIC) uses a production-driven approach.

Under a market-driven approach, the economy comprises goods-producing and service-providing industries. Goods-producing industries include: natural resources and mining, construction, and manufacturing; service-providing industries include: wholesale and retail trade, transportation (and warehousing), utilities, information, financial activities, professional and business services, education and health services, leisure and hospitality, and public administration.

Under a production-driven approach, the economy comprises product-driven and service-driven industries. Product-driven industries comprise enterprises that manage inventories available for sale as primary activities (regardless of whether they transform them or not). Under this approach, the retail, wholesale, and food service industries are product-driven. (The kitchens of food service providers are equivalent to factories.) Product-driven enterprises may have extensive cost accounting and operations practices for inventory management.

Industry classifications can be applied to an enterprise as a whole (the primary industry), and to the establishments within it, which may be in differing secondary industries. Establishments are facilities that include plants (factories and warehouses) and branches (retail and wholesale outlets).

For example, the hospitality industry is service-driven; under the production-driven approach, the bar and restaurant establishments within a hotel are product-driven. The entertainment industry is service-driven; under the production-driven approach, the retail and bar establishments within a theater are product-driven. The health care industry is service-driven; under the production-driven approach, the retail pharmacy establishment within a hospital is product-driven. Under the market-driven approach, all of these establishments are service-providing.

For example, a manufacturing enterprise is goods-producing under a market-driven approach, and product-driven under a production-driven approach. If it also operates a retail delivery system, the stores are service-providers under a market-driven approach, and are product-driven under a production-driven approach. If all sales revenue is sourced from its own products, the enterprise is in two primary industries. However, if forced to decide, its selection should be based upon core competencies – activities that it performs well. The enterprise can be divided into two separate business units: manufacturing and merchandising. The merchandising unit is an internal customer of the manufacturing unit. However, depending on strategy and policy, the manufacturing unit could sell products to wholesalers and other retailers, and the merchandising unit could buy products from other manufacturers and wholesalers. Under a market-driven approach, the manufacturing unit is goods-producing and the merchandising unit is service-providing, whereas under the production-driven approach, the merchandising unit is product-driven.

The make-up of the economy changes overtime as newer industries emerge and grow and older industries mature and decline. For example, the manufacturing industry is shifting from vertically integrated to strategically outsourced. Strategic outsourcers may manufacture specialized components and assemble finished products. However, by outsourcing the manufacturing of utility components to specialty scale manufacturers, strategic outsourcers can lower their production costs.

Biotechnology and nanotechnology are emerging industries. The information industries are growing as technology becomes more ubiquitous, and as knowledge is packaged in digital products. Knowledge is information that has been learned and retained. In the future, knowledge will be retained extensively in electronic form.

Products and services…

The term “product” is associated with something that is tangible – the resulting inventory from agricultural, mining and drilling, construction, and manufacturing activities. Outputs are either end-products, or components that are assembled into end-products in downstream processes within the enterprise or in its customers.

The term “service” is associated with something that is intangible – capabilities either delivered at the point or time of sale, or shortly thereafter, or as a supporting service. Supporting services can be purchased at the time of sale for downstream use, or later, and consist of such items as warranties beyond those bundled with the product, preventive maintenance, and routine cleaning and repairs.

Functions and features of products are easier to discern than those of services, which are event or activity driven, and may occur in the future.

The term “time of sale” means when a contractual or non-contractual agreement between a buyer and a seller is made, and does not necessarily mean when revenue is recognized and earned. Revenue is recognized and earned according to the accounting principles that fit the service offering, which may be over a period of time.

A commodity is a product or service that is indistinguishable and interchangeable with another of the same type because there is little to no value added. Many commodities are natural, such as produce, minerals, oil, and gas. Services can be commoditized too. The distinguishing factors of a commodity provider include convenience, quality of service, and price.

Product-driven enterprises also offer delivery and supporting services. Delivery services include arranging for transportation, dealer preparation, training, and gift wrapping. Supporting services include cleaning, repairs, and maintenance. To remain competitive over time, enterprises have to add services with their product offerings that exceed customer expectations. However, if customers require such services, then they must become part of the basic offerings. For example, bathroom facilities and color TV are included in modern hotel rooms, even though the primary purpose is providing a place to sleep.

Although services are intangible, their effects are not. Transportation services move people, cleaning services remove dirt and stains, and repair services restore items to working order. Services require facilities, equipment, and supplies that are bundled in. When products are bundled in, the enterprise pays sales or use tax, if applicable; when products are sold with services, the customer usually pays sales or use tax, if applicable.

Service-driven enterprises can produce tangible deliverables. For example, dry cleaners produce clean and pressed clothes; professional service firms, such as architects, accountants, attorneys, and consultants produce reports; and engineers produce design drawings that can be transformed into facilities, equipment, or other tangible products.

The recording and movie industries employ technologies that can capture sound and pictures. Starting in laboratories, these industries transform science into art. Hence, live entertainment performances (services) can be transformed into recorded products. As a consequence, an event or activity can be reproduced, duplicated, distributed, and repeated to the public-at-large indefinitely. Digital products are impacting traditional manufacturing, distribution, and consumer buying behaviors, and placing intermediaries at risk.

Process control and information technologies have enabled seamless integration between designers and manufacturers. The “design-to-construction” process becomes ubiquitous as computer-aided design and manufacturing technologies (CAD/CAM) enable a designer in one location to transmit specifications to manufacturers in others. The designs are virtual, and result in instructions that control manufacturing equipment in both local and remote locations. As a consequence, manufacturing can be outsourced strategically to any manufacturer that can accept electronic designs anywhere at any time. Because the process is seamless, the precision is higher.

As more enterprises adopt the design-to-construction model, dramatic changes will occur in the structure of industries. For example, in the publishing industry, books can be printed on demand from electronic files upon receipt of orders placed over the internet, eliminating the need for physical inventory available for sale at printers, publishers, and bookstores. The electronic files represent a virtual finished goods inventory from which physical products can be made when necessary. As a consequence, inventory carrying costs are lower.

Both product-driven and service-driven industries render service from centers that receive inbound and place outbound service and telemarketing calls. Call center activities can be outsourced in a similar fashion to manufacturing.

The notion of strategic outsourcing can be applied to almost every function in an enterprise provided intellectual property is protected. However, although management consultants may be used in the development of strategy, the ultimate responsibility for planning, deployment, execution, and performance remains in-house with the governance function.

Products and/or services…

The term “products and/or services” describes collectively all types of products and services.

Service-driven industries are evolving into providers of both “product-oriented” and “service-oriented” services. In order to differentiate product-oriented services from the delivery and supporting services, the term “service-oriented” products provides more clarity. Service-oriented products must be definable, duplicable, and repeatable. They are intangible outputs of processes that are represented by tangible items, packaged in a definable form. Technology plays a major role in the delivery through hardware, software, and both voice and data telecommunications. “Hard” products are tangible and “soft” products are intangible.

For example, traditional land phone line services were offerings with few differentiating features, primarily in the style of equipment. As the telephone system migrated from electro-mechanical to electronic, the offerings were transformed into service-oriented products with features such as call forwarding, caller identification, call waiting, and voice mail. Cell phone offerings are service-oriented products with more extensive functions and features than land lines. Cell phone service-oriented products have cameras built-in, and have delivery and supporting services bundled in such as account information, internet access, and application software for calculators, calendars, contact information, notes, games, music, pictures and movies. Cell phone and computer technologies are converging.

In the financial and business and professional services industries, service-oriented products are packaged with such items as accounts, agreements, brochures, contracts, databases, documents, equipment, facilities, policies, procedures, and statements.

In the leisure and hospitality industries, service-oriented products such as flights, hotel rooms, car rentals, and limousine services are packaged with facilities, equipment, and supplies. The types of facilities and equipment define specific offerings. For example, an Airbus A380 renders a different experience from a Douglas DC3 even though the principal service is the same: providing air transportation. A hotel room with a view of the ocean renders a different experience from one with no windows at all, even though the principal service is the same: providing accommodation. The quality of the accoutrements such as blankets, pillows, towels, newspapers, cable TV, internet access, and fruit baskets can affect the overall experience. A Cadillac renders a different experience from a Chevrolet, even through the principal service is the same: providing a rental car to drive, or a limousine.

Travel-related service-providers bundle air, hotel, car rental, and limousine services into packages to make the buying decisions easier for consumers. Event planners bundle travel-related services with conference and convention services for enterprises.

Consumables, durables, and facilities…

Manufactured products consist consumables and durables.

Consumables are products change or wear out as they are used and comprise food, clothing, personal care, health care, household supply, and office supply items. Media such as books, records, audio and video CDs, and DVDs are classed as consumables – the intellectual property is worth far more than the media.

Durables are long lasting equipment items such as appliances, furniture, and vehicles.

Digital products may involve no media if they delivered electronically other than the server of the publisher and the electronic device of the user.

Facilities are the outputs of construction activities and are made of durable materials.

Contractual or non-contractual products and/or services…

Agreements are contractual or non-contractual based depending upon the type of offering, and the nature of the relationship between buyers and sellers.

Consumable products can be sold with the right to return for exchange or refund within a certain period of time. Durable products can be sold with agreements that define warranties and maintenance.

Service-oriented products and services can be sold with agreements that specify exactly what is to be delivered and when, with procedures for reporting problems or complaints.

In negotiations, discussions should embrace the specific functions and features of hard and soft products, and the delivery and supporting services. Experienced negotiators pay attention to both the tangibles and intangibles because the total cost of ownership comprises both.

Digital-construction and digital-manufacturing…

As technology continues to develop, service-oriented products will become more common because it makes intangible items definable. New knowledge-based industries will emerge.

The reproduction of software on physical media is classified as goods-producing, and all other development and publishing activities are classified as service-providing under NAICS. However, software and other digital products are durable because they can last indefinitely, even if they have to be transferred among storage media. Software products are developed by service-providers such as business and professional services firms, publishers, and “in-house” developers. Nevertheless, software development activities require the project management disciplines of goods-producing industries, such as construction and manufacturing, to be successful.

The “digital-construction” and “digital-manufacturing” industries are evolving: digital construction delivers software; digital manufacturing delivers soft service-oriented, information, and knowledge-based products. However, through CAD/CAM processes, software delivers hard products too. In the future, almost all hard and soft products will result from digital-construction and digital-manufacturing processes.

Defining product and/or services is an enterpriship (entrepreneurship, leadership, and management) competency.

How To Take Care Of Your Vineyard

If you own a vineyard then do remember to plan out carefully what to harvest and when to harvest in your land. They are considered to be as a hub for wine industry. You can find their presence almost all over the world. Their popularity is due to the reason they are recognized as a place for growing grapes. Grapes are considered to be as a main source for making wines. From decades grapes are used in wine making, and also for eating. If you maintain your winery in a proper manner then it is sure you are going to have a good harvest of grapes.

To maintain vineyards it will ask for lots of resources for its effective maintenance. As it is already been pointed out that they are found almost all over the world then from this one point is sure that they are planted with different varieties of grapes. This is for the reason that each countries climatic condition and the variety of soil also vary. Thus a particular category of grapes will be produced only in that country or region. Some wineries will demand for lesser attention for growing grapes, while some will demand for a greater attention so that you have a good harvest of grapes.

One of the important activities that have to look into is to regularly trim the grape vines so that you get a better reap of grapes. To achieve the greater success in the harvest the location of the harvest also plays an important role as it influences the quality of fruit grown. You must ensure that the vines are receiving a sufficient amount of sunlight. Also take care to keep away animals like birds, rabbits, deer’s, and other animals.

The variety of grapes you require for the production of wines and the required amount of space required to grow each variety needs to be carefully planned. As for the reason the vines which you are growing will usually spread all over the yard thus it will tend to destroy other variety of grapes harvested. To avoid this you must make sure to properly trim the vines so that there is no sign of damages occurring to the varieties of grapes harvested. Whether it is summer or winter season a proper care and maintenance of vineyards will fetch you better results.

Vineyard grapes will necessitate for a greatest care all over the year. With the help of fencing you can provide a great support to your vines grown. Always have a check of wires if you notice any rust in them then immediately replace with the new ones. On the whole you have to take care of your vineyard as they are the main source for wine making. If you are able to produce a good harvest then it is going to give you a lucrative income. The idea of growing grapes has been similar for decades. Some would have changed their process due to the advancement of technology.

The Importance of Employment Tests

It is a known fact that the success of an employer and a company as a whole depends largely on the quality and reliability of its employees. This is the reason why employers must invest time and even money in the recruitment and interview process. Doing so would ensure that only the best possible candidate will be considered for a particular job.

When it comes to screening of potential employees, no other tool does it better than employment tests. These tests can measure what is called the KSA – knowledge, skills and abilities of the job candidates. Employment tests in this context are generally written or automated tests, but also include interviews, personality tests, skill tests, psychological tests, performance tests, medical examinations, agility tests, and so on.

A hiring process that is poorly designed is much like a recruitment process based on flipping a coin. Employers are well-aware that the impact of inefficient recruitment decisions can have costly and detrimental outcomes, which may include expensive training costs, decrease in overall productivity, increase in employee replacement, and increase in legal exposure.

Benefits of Efficient Assessments Incorporating assessment tests ensure that your company is making better hiring decisions. It can determine whether or not an employee can meet your criterion for maintaining high productivity. Consequently, pre-employment tests can reduce expensive and time-consuming recruitment steps by straightforwardly narrowing down the choices that will include only candidates who are best fit for the job. Because job fitting is greatly improved, this scenario can also increase the chances of retaining your employees for far longer periods of time. Furthermore, a well-developed pre-employment testing program can present a professional and positive image for your company, and will decrease the risk of hiring complaints.

Although pre-employment tests are basically a tool that protects employers, it can be just as important for them as for the applicant. It would be a shameful waste of time, effort, and even money to prepare for the responsibilities and challenges of a new job, yet find out later on that one is not capable of performing the tasks on hand and is bound for failure.

The benefits of pre-employment testing are endless. However, employers must know that these tests have certain limitations. For one, written tests must only measure skills that are important for the job description that a candidate is applying for. For this, employers must carefully design their pre-employment testing program. Pre-employment tests not properly designed may create an impression of being discriminatory, and this is something employers must avoid at all times.

Designing testing tools take time and experience. If these two are something your company does not have, you can easily find pre-employment testing software packages on the market. These pre-employment tests have been designed by professionals with expertise and experience in the field of recruitment, and thus can efficiently evaluate the general knowledge, office skills, personality, and so on, of a potential job candidate. There are various types of pre-employment test to choose from, and there will surely be one that best fits your needs as an employer.

Clearly, organizations that have a carefully well-developed testing program that best meets their exact needs will have competitive advantage. Employment tests allow employers to make the best hiring decisions and will consequently improve business revenue, productivity, and overall business outcomes.