How the pandemic played out in the retail space during the last 2+ years has taught us a lot. An awful lot. The jewelry trade especially has been buoyed by how resourceful and creative it’s become given these obstacles – with no guidebook to follow.
Early on, consumers quickly became obsessed with online shopping and almost immediately preferred the virtual shopping experience. Shop ‘til you drop in your jammies became the rallying cry. But that was only possible if retailers upped their virtual game.
Safe Shopping in a Virtual Universe
Consumers discovered they could buy with complete confidence – if they don’t like it, simply return it with the pre-paid shipping label that accompanied the product. And just like that, their credit card reflected the refund usually on the same day.
The global pandemic drove the digitalization of businesses who transitioned to e-commerce while simultaneously creating major shifts in retail shopping behavior – changes that are here to stay.
Off-line Shopping – the New Standard
Consumers will never completely return to pre-pan habits of shopping. Since the world opened up again, there’s a hybrid shopping experience evolving for retailers who engage their customers in ways they have grown to prefer. In-store shopping is now called off-line shopping – and that’s not meant tongue-in-cheek.
Manufacturers and wholesalers must up their game and seize a greater market share from loyal consumers – and new customers to boot. The easier wholesalers make it for resellers to market goods from their site, the better.
Ripe for a Solution
Marlene Murphy, AJP, at Jewelry Website Designers (a leading developer for independent jewelers) has answered the call for ease of integrating inventory by creating a proprietary management system for manufacturers and wholesalers. It’s called Profit Hub ™. Tackling all facets of the manufacturing/wholesaling side for the retailer, Murphy created Profit Hub as the latest solution on her website design lineup.
What exactly is the Profit Hub?
Murphy explains, Profit Hub is a custom-built function available exclusively through Jewelry Website Designers that is embedded into a custom e-comm website. It allows the wholesaler or manufacturer to seamlessly sell to their resellers and retail stores online. PH easily enables a reseller to promote the items, adding their own markup. Resellers can import products into their own website or simply embed a mini-site of the wholesaler’s product catalog reflecting their marked up retail price.
Who is the ideal user for Profit Hub?
Any jewelry manufacturer or wholesaler of loose stones or finished goods. In some cases, it could work for a designer selling to retailers
What is the greatest benefit of Profit Hub to manufacturers and wholesalers?
Reseller orders can be efficiently processed online using PayPal, Credit Cards, ACH or just a net 30 billing to their customers. Resellers can view previous orders for efficient re-ordering.
Will clients with basic tech skills be able to master Profit Hub with some practice?
The system is surprisingly intuitive and easy to use. JWD provides personal support as needed for clients after their comprehensive tutorial. Resellers will see the available inventory displayed with a product image and wholesale price, then add their percentage markup or assign specific markup amounts to selected items they’re promoting to create an online mini-catalog. And resellers can choose which items from the wholesaler’s inventory they want to offer.
How can one measure the time-saving benefits that Profit Hub provides its user?
Wholesaler inventory pricing, product details, descriptions can be maintained in their own Product Information Management (PIM) or Inventory Management system which is then uploaded to the website database. No need to enter each item into both systems. Product Images can be uploaded in bulk. Maintaining a single inventory system keeps online and local inventory data in sync.
Wholesalers & manufacturers can also offer promotional marketing materials such as product images, videos, and ad sheets for the reseller’s use. A win-win for both.
Are retailer’s revenue streams primarily from online sales now?
According to Murphy, while jewelers know they need eCommerce capabilities, many say they don’t want the “hassle” it takes to keep their online inventory up-to-date by having to enter individual products into their current website.
Even if retailers don’t integrate the product inventory or mini-site into their own website, being able to pull up the mini catalog with product images with their retail prices is a great way to display products they don’t actually keep in-house and thus boost sales.
Showing is often better than explaining. Murphy developed a mockup for customers to test drive and see the benefits for themselves. Visit jewelrywebsitedesigners.com/profit-hub.cfm and see how this valuable tool can boost your bottom line. Still have questions? Chat with Murphy to learn more; Marlene@jewelrywebsitedesigners.com.