In an effort to evaluate the route of the silver jewelry wholesale industry and bring peace of mind to online customers, We Silver Jewelry Wholesale evaluates the challenges created during COVID-19 and the preceding economic crisis.
“The problem is that the global economic crisis had already created lots of problems to all sectors, including ours – the wholesale jewelry industry,” said the CEO of the company, Tim Greene. “With Covid-19, the whole market came upside-down. The delivery times nearly doubled, the prices went up – and keep doing so. This has influenced the jewelry wholesale shipping costs as well. Business in NOT as usual.”
As Greene explained, the challenges are on both the health and economic level. Up to now, the retailers were looking for low wholesale silver jewelry prices. And the priority of the self-respected wholesale jewelry suppliers was to provide items from responsible sources.
“Till all that began,” Greene said, “our only preoccupation was to provide quality. As a responsible online silver jewelry wholesaler, we never used conflict materials. We always focused on safety. Our industry – as most, if not all, industries – has seen good and bad days through the years and we always managed to come through. The usual problems had to do with delivery, designs, competition – nothing strange. What we all experience now is unprecedented.”
The wholesale jewelry industry has experienced a big hit simply because jewelry is not a necessity. The economic crisis followed by the pandemic brought disaster. First of all, it’s a matter of health, even for people who work in the industry and had to look after their own. The supply chain slowed down and the retailers started complaining since they paid more to receive later.
“We at We Silver Jewelry Wholesale try to inform our customers about all these problems but also understand the pressures of the retail, especially since the pandemic created even worse financial gaps. We are talking about supply chain problems worldwide and so, it’s a common problem – one that, maybe, we should all work together to solve, at some point. The whole supply chain works together to satisfy the customer. Without the customer, we don’t exist – neither does the market. That’s what we all, in this business, should keep in mind.”
