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How Can I Set My Prices For Silver Jewelry?

All material on this web-site is presented as is with no warranty, express or implied, as to the usefulness for any purpose. Use at your own risk.
 
Establishing which items to choose from the Plum Island catalog can be fun and exciting, however the costs and ultimately what the consumer will pay for the silver jewelry needs to be considered. Silver prices for the jewelry items should consider the following when computing the cost analysis:
  • Cost of the jewelry- The cost of the jewelry consists of the price paid for the item plus shipping costs. Discounts within the Plum island Silver catalog are based on dollar volume for each order, with a cumulative discount in effect, affording all customers a bonus, even for the modest customer to the large wholesale silver jewelry dealer.
  • Overhead costs- Fees such as rent, website maintenance, cost of maintaing inventory, and utilities may need consideration within the jewelry pricing scenario.
  • Advertising costs- Monies paid for internet advertising, pay per click, newspaper advertising, magazine ads, or other modes of advertising are also figured into the pricing.
  • Commissions- If salespeople are a part of your company and they are working on commission, that is a necessary consideration when computing jewelry pricing.
Since these factors are highly varied and in some cases, non existent, Plum Island Silver suggests using the catalog's triple keystone pricing as a starting point and then alter it accordingly based on sales, feedback, and geographical location.  This ability to customize retail pricing affords the tools to create a scheme based entirely on those criteria which influence and effect individual businesses. The affiliate sites are a relatively easy way to utilize the variable market schemes available to the retail jeweler. Worthy of note is the competitiveness with which the internet and other means of selling have created, causing retailers to  very carefully price their silver jewelry.  In order to receive the best silver prices and the best quality at Plum Island Silver, our retailers are afforded both a discount on each order as well as a cumulative discount over time.  Offering closeouts, weekly specials, and general sale merchandise, are golden opportunities for the retail jeweler to capitalize on minimizing the cost of goods sold, affording eye catching "leaders" to customers and drawing them into the jewelry store or website for additional purchases.
 
All material on this web-site is presented as is with no warranty, express or implied, as to the usefulness for any purpose. Use at your own risk.
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