Three key things to consider when choosing your jewellery supplier

I remember some seven years ago conducting a questionnaire on behalf of Marjo and one of the questions was “In the next year do you intend to increase the number of silver suppliers”. In the majority of cases (over 50%) the answer was “Yes”. Also, the number of silver suppliers supplying retailers was already over 5. Well, how seven years have changed the market. The same question asked now would be under 3 suppliers and there are certainly no plans for increasing the number of suppliers. The world has changed.

Now that the world is a different place, what would be the criteria that people choose their suppliers on, particularly new ones. From a silver jewellery supplier’s perspective there should be three criteria:

1. Jewellery range and price. There is no doubt that under difficult market conditions value for money is the name of the game. No matter who you are as a supplier, the customer is very aware and keen to look for the best price. A good supplier therefore offers value for money to its customers and also a range of jewellery that is sufficiently broad to cover all the retailers’ needs.

2. Trust & Service. This is such a tired and misconceived word. Everybody seems keen on saying that they provide a good service and then when it comes to the reality of things, there is a massive disappointment. Service means people will go the extra mile to ensure they satisfy your needs. Whether it is getting an urgent order out that same day or looking for that piece of jewellery which is already eliminated, but one might be lying about. Service is a quiet and very important criterion.

3. Congeniality. Life is simply too short to do business with people you don’t enjoy doing business with. There are too many options about and the power is all with the customer, as we live in a demand based economy. One does not have to suffer on and contend with unpleasant people: even if they’ve got desirable goods. Nowadays all goods are replaceable and there are options available on each front. Therefore don’t suffer on and choose wisely.



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