Precious metal prices have skyrocketed in the past year due to uncertainty in the US markets. Silver recently surged above $100/oz, while gold exceed $5,000/oz for the first time. These vicious price swings have played havoc on the industry, and deeply affected many of the small businesses reliant on their stability. To mitigate the uncertainty in cost price, B2B buyers have been stockpiling, to guarantee their cost price. This strategy ultimately hedges their bets against the rising wholesale prices, while also supporting retailers and businesses in planning for the upcoming seasons. It’s being seen as a wise strategy across the industry to lock in stock prices now, before we’re hit with further volatility.
Follow Consistent Seasonal Trends – Not One Hit Wonders!: Every business is looking for a unicorn to capitalise on – an undiscovered gem to propel them to success. But these gems are rare, and fads are fleeting. Each year we know that Christmas, Easter, Valentine’s Day are going to be hot seasonal themes with no chance of cooling down. As a business looking to mitigate risk in the market, and plan seasons ahead of time, it’s wise to double-down on seasonal themes. Their guaranteed popularity makes it easy to predict their success, and often buying seasonal items out of season, can save you tons. Designs such as Hearts, Christmas Trees, and Presents will always trend at the right time.
Seasonal themes To Consider
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- Valentine’s Day (14th February): We all know love when we see it. Romantic styles and designs such as Hearts, Roses, Infinity Symbols, these are all bestsellers around the Valentine’s Day period. In an otherwise quiet season, the jewellery industry receives a massive boost by this festive event, with demand peaking between the January payday and middle of February.
- St Patrick’s Day (17th March): One of the most fun festive holidays of the year, this traditional Irish event commemorates St. Patrick and has become known as an iconic international celebration worldwide. A huge boost to industry coincides with the event. Jewellery designs linked to the holiday such as Shamrocks, 4-Leaf Clover, and Leprechauns are all hugely popular around the season.
- Easter (March/April): As we move into Spring, around the world we begin to celebrate Easter. Traditionally Easter is celebrated on the first Sunday following the full moon that occurs on or after the vernal equinox. This date changes each month, but the holiday always occurs in March or April. To prepare for the global event, designs such as Bunnies, Eggs, Baskets and Lambs become increasing popular, as jewellery is often gifted around this time.
- Spring (March – May): Spring is the season for new life. As the days grow longer, and animals come out of hibernation, we see the jewellery industry pivot into new designs. As the weather turns warmer, Flowers, Butterflies and Dragonflies are motifs often worn around this time. . A recent jewellery marketing guide notes that spring designs are dominated by “daisy-shaped earrings, butterfly pendants, and leaf-inspired bracelets”. By preparing your collections and lines in advance, you can well prepare for this long season.
- Summer (June – August): The sun is out, and people are out to look their best. As we celebrate the long warm days, the styles and fashion that the public opt for changes. We start to see summer themes creep into wardrobes, and styles that are bright and colourful become adorned by many. Sea Creatures and Beach Themes are ever popular designs during this season. We notice that the summer is often the most consistent sales period too, with consumers looking to spend more, without being burdened by seasonal expenses such as Christmas.
- Halloween (31st October): As the days get shorter and cooler, and we begin wrapping up warm, we start to prepare for Halloween, the spookiest event in the annual calendar. Halloween is a blessing in the jewellery industry, since it perfectly bridges the long gap between the Summer and Christmas. Sales spike around the middle of October as consumers begin buying costumes and getting into the feel of the season. Charms and adornments such as Bats, Witches, Pumpkins and Broomsticks become popular designs frequently worn by the British public.
- Christmas (Nov–Dec): Winter brings the biggest peak. Elegant, festive jewellery always outperforms in December. Traditions in the UK include pearl sets and sparkling tennis bracelets for adults. Winter collections focus on sophistication: “snowflake motifs, icicle forms, and festive holiday themes are prevalent in earrings, necklaces, and rings,” and pearls are prominent, adding classic sophistication. (Indeed, pearls and cubic-zirconia tennis necklaces make thoughtful Christmas gifts.) For children, bright reds and whites with enamel and crystals think Santa hats, gift-box charms or glittery snowflake earrings are fun crowd-pleasers. In short, offering a mix of elegant winter pieces for adults and colourful, festive charms for kids can maximize holiday turnover.
- Christmas (25th December): Christmas is the payday of the jewellery industry. Consumers scrimp and save for months to afford gifts for their loved ones. Buying begins as early as September, and stretches right up until Christmas Eve on the 24th of December. This is the peak season for retailers to prepare for well in advance. Styles like Santa, Reindeer, Snowflakes and Gifts never go out of fashion, and are ever popular in the market. If there is one time to double-down on your stock, that time is now.
Collectively, these seasonal events fill up the retail calendar. By ensuring as a retailer that you’re well prepared for these events, you’ll guarantee success. There is no need to trend forecast here, the only smart decision making is when to buy. Purchasing well in advance not only mitigates future uncertainty around increasing precious metal prices, but also ensures you’re prepared for consumer buying. To prevent stockouts and expensive rush orders, I strongly recommend planning ahead, and locking in your costs.
Choosing the right supplier
So you’ve got your plan, you’re getting ahead of the game. But then the next challenge comes along… Who do you buy with? As a retailer striving for consistency and preparedness, you want a supplier that offers reputation, quality and reliability. In the fluctuating jewellery market, businesses such as these can be hard to find. By buying from manufacturers directly, you know you’re cutting out the middlemen by going directly to the source. But this sometimes comes with MOQs that can be unsustainable. Delivery timeframes can often be extensive, and when you want a variety of designs, this can get expensive and slow quick!
A great alternative is to look for a factory-direct wholesaler. Now, this is a middleman, but is ultimately a distributor, the most efficient type of middleman. UK-based wholesalers are a great way to not only save money, by purchasing in quantities, but also guarantee quick delivery by being local.
Conclusion
In uncertain times, the winning formula is clear: plan inventory around constant themes and partner with a solid supplier. By stocking classics like hearts, shamrocks, flowers and snowflakes, you ensure steady customer interest year-round. By stocking classic designs and seasonal stalwarts, you’re protecting your business and guaranteeing your profits by opting to stock best sellers. In partnering with a UK-based factory-direct wholesaler, such as Silver JD, you know that you’re going to get the consistency, quality and reliability that any retailers craves during times of uncertainty in the market. So in short really, buy smart, buy local and buy in advance!